WIF, PEPE DOGE Lead Memecoins with 114% Surge: What Comes Next?

  • The rise of meme coins in the cryptocurrency market has been phenomenal, surpassing all other competitors in terms of growth.
  • DOGE, WIF, and PEPE have experienced a decrease in social engagement.

The meme coin sector has witnessed unparalleled growth this year, outshining all other segments of the crypto market. Recent data from Artemis reveals a remarkable 114% increase year to date.

Meme Coin Dominance

The success of WIF, PEPE, and DOGE has played a significant role in driving the growth of meme coins as a whole. Surprisingly, meme coins have outperformed Centralized Exchange tokens, DePIN tokens, and even AI tokens.

Source: Artemis

Despite this success, the future looks uncertain for these meme coins.

An analysis by AMBCrypto using Santiment’s data showed a noticeable decrease in social engagement for WIF and DOGE over the past month. A decline in popularity may lead to a drop in the value of these tokens.

With newer meme coins like TRUMP and BODEN gaining traction on social media platforms, WIF and DOGE face the risk of losing market share.

These meme coins will need to regain their popularity on social platforms to maintain positive momentum in their prices.

On the contrary, PEPE experienced a spike in Social Volume in recent days, indicating its ability to remain relevant on social media despite increased competition in the market.

Source: Santiment

Insights from the Data

PEPE also showed positive growth in terms of network expansion in recent days, indicating a growing interest from new investors.

DOGE experienced an increase in transaction velocity, suggesting a rise in the frequency of transactions, while WIF saw a similar uptick in transaction volume.

Source: Santiment

As for price movements, DOGE and PEPE have shown positive performance in the past week, while WIF has struggled to do the same.

PEPE recorded a 14.98% growth, DOGE surged by 3%, and WIF experienced a 10% decline in value over the last week.

Source: Santiment

Next: Discovering the driving force behind Floki Inu’s impressive 111% surge and what lies ahead

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