🐟 When a network's overall amount of wallets declines, it is a sign of FUD & capitulation from novice traders that is often a bullish indicator for the coin's price (since those liquidated coins are likely being bought by larger whales & sharks who are hodling for the long-term.

Retail traders largely control the amount of non-empty wallets on a network, considering there are an enormous amount of small wallets compared to whale wallets. With this said, here are the changes in non-empty wallets over the past month for notable top cap assets:

🪙 Bitcoin (BTC): +11,263 (+0.02%)
🪙 Ethereum (ETH): +1,950,000 (+1.50%)
🪙 XRP Ledger (XRP): +88,261 (+1.61%)
🪙 Cardano (ADA): -34,931 (-0.78%)
🪙 Dogecoin (DOGE): +109,410 (+1.65%)
🪙 Chainlink (LINK): +991 (+0.14%)

🗣️ The top trending tokens in crypto are being dominated by meme coins as speculative assets dominate this historic bull rally. The top 6 notable assets seeing significantly higher discussion rates across social media are PNUT, PEPE, DOGE, MEME, NUX, and COIN. Bitcoin sits at #7.

😹🐶 Meme coins have undoubtedly netted the best returns over the past week for traders with DOGE (+96%), PEPE (+97%), WIF (+67%), & BONK (+67%) leading the way.

Historically high speculative asset social dominance typically indicates greed and emotional trading. Be cautious while memes are the main cryptocurrency topic of interest across X, Reddit, Telegram, 4Chan, and BitcoinTalk.

🐶📈 Regardless of your take on meme coins, it has been impossible to ignore the ascension of crypto's top meme coin. In the past 4 weeks, there have been 74,885 more wallets holding less than 100K DOGE.

Meanwhile, shark and whale wallets are declining during this time, with a net drop of -350 in this same timeframe. Though 108 have returned in the past couple days to help spark this latest rally over $0.40 for the first in three and a half years.

Ideally, we want to see retail and key stakeholders accumulating speculative-driven coins like DOGE together. The next few days will be telling for sharks and whales to keep this momentum alive. 👀

📊 As altcoins made huge runs post-US election, the rate of discussion toward crypto's top assets are directly correlating with price activity.

📌 Most eyes are still on Bitcoin as traders see whether it can surpass $80K by the end of the week
📌 Ethereum has made a recent jump in discussion rate by surpassing $2.9K and slightly outperforming Bitcoin (a rare sight) on Thursday
📌 Solana, XRP, and Dogecoin are all a bit under the radar as the community has shifted their sights on BTC and ETH. But prices are still performing well

📈 Bitcoin has jumped back above $70K prior to US election results coming in later today. Several memecoins and AI/Big Data altcoins like DOGE, SHIB, FET, BONK, & POP, are also spiking. The S&P 500 is also up big as well, which is a strong sign of later November growth.

📊 As traders wait for clarity in crypto markets, Bitcoin has been seeing a notable decline in the amount of non-empty wallets. 211.5K less addresses exist compared to 3 weeks ago, a strong sign of FUD that typically is associated with future bullish price performances.

Meanwhile, Santiment also picked up a drop of -11.6K USDC wallets in a single day this weekend, as stablecoin behavior fluctuates wildly.

Also, keep an eye on Dogecoin wallets suddenly rising rapidly (+46.4K in one week). This is a sign of traders speculating and gambling on memecoins, even after last week's local top.

🐻 Crypto markets have corrected alongside equities as traders increase speculation that the bull rally has come to an end. With crowd optimism transitioning to doubt, these are the $500M+ market cap projects showing the best upside based on buying into the crowd FUD:

1 Chainlink $LINK
2 Bitcoin $BTC
3 Goatseus Maximus $GOAT
4 Dogecoin $DOGE
5 Ripple $XRP
6 Pepe $PEPE
7 Filecoin $FIL
8 ShibainuCoin $SHIB
9 Eigenlayer $EIGEN
10 BuildOnBeam $BEAM

Cryptocurrency is still very much a speculative sector, even for the most established projects. Markets typically move the opposite direction of the crowd's expectation, meaning the bearish narratives surrounding these coins can lead to rewarding results for those willing to go against the crowd selloffs that are beginning to mount.

📊 This pictured chart is not showing the prices of these coins. Instead, it illustrates the ratio of positive vs. negative sentiment (and volume of conversations) toward $APE, $DOGE, $GOAT, and $GIGA across social media.

These are among the best performing coins in crypto the past couple weeks, and naturally attracted lots of FOMO & bullish sentiment as each coin pumped. Once the bullish sentiment got high, each asset corrected one by one.

This phenomenon is not exclusive to memecoins, either. Prices typically always go the opposite direction of the crowd's expectations, and when the crowd gets extreme on either the bullish or bearish end, it becomes highly predictable to buy or sell.

Use this template to check in on how any of the 3,000+ coins Santiment tracks look, according to the ratio of bullish vs. bearish comments across social media.

📺 In our latest video, we chat with ThinkingCrypto about the week of pumps. How does Bitcoin's health look now that 'Uptober' looks like a thing again? And what's up with memecoins, Sui, Aptos, and other altcoins?