🗣️ 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.

🐻 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.

🐶🤕 Meme coins like Dogecoin (+12%) and Bonk (+13%) have been major stories Wednesday, with spikes in prices across the sector. Speculative assets continue churning as Bitcoin profits get redistributed. Altcoins can continue to grow as long as crowd FOMO doesn't get in the way.

🐳 Among cryptocurrencies with at least a $2B in market cap, these are the projects seeing the highest rises in whale activity compared to the week prior:

1) Injective $INJ 🥇 +456% Rise
2) Wrapped Bitcoin $WBTC 🥈 +421% Rise
3) Shiba Inu $SHIB 🥉 +360% Rise
4) Multi Collateral Dai $DAI +147% Rise
5) Pepe $PEPE +109% Rise
6) Tether $USDT +74% Rise
7) Ethena Labs $USDe +67% Rise
8) Dogecoin $DOGE +67% Rise
9) Wrapped Ethereum $weETH +62% Rise
10) Optimism $OP +59% Rise

🗣️ Altcoin euphoria continues with crypto ending its week with speculative large caps seeing major rises in discussion rates. The top trending projects driving markets are:

🪙 Toncoin $TON - Association with the cryptocurrency The Open Network (TON) in the context of the Hamster Kombat airdrop.

🪙 Shiba Inu $SHIB - Discussions around its cryptocurrency and associated projects like Shibarium. The community is optimistic about a 33,000% increase in the burn rate, contributing to a 23% price rise recently.

🪙 Pepe $PEPE - Users are debating its potential for a bull run, comparing it to other memecoins like Shiba Inu. There is a sentiment that 'pepe' has not yet experienced significant growth, but many believe it could perform well in upcoming market cycles.

📈 Pepe, Fetch.AI, and Ethereum Name Service all have one thing in common - sudden huge spikes in network growth. When coins see a surge in new addresses being created, it is often related to FOMO because of climbing prices (like with ENS), or a potential breakout.

📈The hype surrounding #Ethereum's first spot #ETF has been a catalyst for one of #crypto's top 5 days of 2024. $ETH, $UNI, $PEPE, $BONK, & $LDO are all over +20% in 24 hours. #Bitcoin's jump to $71.4K for the 1sttime in 6 weeks is almost an afterthought.

Explore the Santiment data screener here and find which #bullish opportunities are still to come!

📊 As #Bitcoin attempts to rebound following its largest sustained dip in over 5 months, traders have been increasingly focused on the challenges behind holding $BTC in cold storage, via #ETF's, and through various borrowing options.

Also seeing an increasing amount of narratives heading into the weekend, the major #memecoin market cap drops are showing polarized views. Some are still quite euphoric about the freedom and "wild west" concept behind them, while other traders are showing skepticism toward the facade behind them, and potential scams associated with them and the #cryptocurrency markets.

Check out the entirely free Santiment dashboard that is constantly auto-generating the highest topics and frequencies of discussion behind them. Stay in tune with what is driving the markets with this dashboard.

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📊 As #crypto markets remain eerily flat these past 24 hours, the push and pull between #AI coins and #memecoins has resumed.

🤖 $AGIX, $RNDR, & $FET surged earlier today, but began dipping 3 hours ago

🐶 $FLOKI, $PEPE, & $WIF dipped earlier today, but began surging 3 hours ago

Explore the above chart comparing these 6 assets here.

Track all of the notable #AI projects on our custom watchlist here.

Track all of the notable #memecoin projects on our custom watchlist here.