- Meme coins DOGE, PEPE, and WIF showed early greed signals, triggering sharp corrections in November, while BONK peaked with delayed market sentiment.
- Rising trading volumes and social dominance drove meme coin momentum, with DOGE and BONK dominating attention during price surges in November.
- Despite minor greed signals, meme coins maintained stability in December, signaling a more balanced market trajectory compared to earlier volatility.
Meme coins, including Dogecoin (DOGE), PEPE, Dogwifhat (WIF), and BONK, experienced notable price activity from early November to December. Analysis by Sentiment reveals large wallet holders played a significant role in driving these gains. However, rising greed signals among investors triggered price corrections, highlighting the fragile balance in the market.
On November 12, DOGE, PEPE, and WIF demonstrated distinct greed signals, leading to price drops shortly after. DOGE saw a sharp rise followed by a steady decline, while PEPE and WIF mirrored this trend with sudden spikes and subsequent corrections.
Conversely, BONK exhibited a delayed response. Its greed signals peaked on November 16, four days after the others, signaling slower market sentiment for the coin. This lag in activity was accompanied by rising social dominance before the price retraced.
Increased Trading Volumes and Social Momentum
November saw heightened trading activity across the meme coin market, with DOGE, PEPE, WIF, and BONK maintaining strong momentum. Besides, trading volumes steadily climbed, reflecting continued interest from large wallets and retail traders.
Social dominance trends varied significantly among the coins. DOGE and BONK recorded substantial spikes during price surges, capturing heightened attention from investors. However, PEPE and WIF showed more moderate increases in social dominance, aligning with their less volatile trading patterns.
By late November, BONK’s social dominance experienced temporary spikes before stabilizing alongside its price. This trend highlighted its unique market trajectory compared to the earlier movements of DOGE, PEPE, and WIF.
Steady Momentum Observed in December
By early December, meme coins showed steady growth, with minor greed signals failing to trigger sharp corrections. Notably, PEPE registered slight greed activity on December 7, but overall prices remained stable, marking a shift from November’s volatile market behavior.
DOGE, PEPE, WIF, and BONK maintained their upward momentum, supported by rising trading volumes and growing social dominance. Significantly, the absence of dramatic corrections despite increased activity suggests a more stabilized trading environment for these meme coins.
As meme coin trading activity continues to rise, analysts highlight the critical role of large wallet holders in sustaining market momentum. Moreover, retail traders entering the market could drive further gains, though heightened greed signals may prompt corrections.
Santiment’s data underscores the need for traders to monitor investor sentiment closely. While the market shows signs of resilience, balancing speculation and caution remains key to navigating future movements in the meme coin space.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
