The crypto market intelligence company Santiment has recently disclosed some latest statistics regarding the price upticks of the memecoins. The platform took to X to disclose the recent price movement of the prominent meme coins taking into account PEPE, APE, SHIB, and DOGE. While providing more details regarding this, Santiment pointed out that the top crypto assets like XRP, Ethereum, or Bitcoin have not recorded such price increases.
Santiment’s Latest Statistics Indicate Huge Price Rises in Memecoins
In comparison with Bitcoin, the meme tokens Pepe, Apecoin, Shiba Inu, and Dogecoin have witnessed their weekly high prices. The platform has labelled this development to be quite surprising. As per Santiment, bottoms began to form nearly on Wednesday. Subsequently, these tokens have expressed nice indications. Some others among the altcoins are also expressing price increases. APE’s price has jumped by 8.44%, SHIB’s value has witnessed an 8.28% elevation, and PEPE’s present price has increased by 7.20%.
Nonetheless, it also brought to the front that this does not play the role of a very coordinated endeavour for a few trading groups or traders. Santiment also discussed this situation from a perspective of social value. In this respect, the platform mentioned that there does not seem to be a specific recognition of the price growths of the respective memecoins.
Crypto Industry May be Turning toward an Overheated Zone, Says Santiment
The elevation in the price of those tokens started to occur just a few hours back. However, if these meme tokens’ price escalation keeps on increasing, FOMO sentiment may likely cause a rapid formation of a top spot. The company also talked about the historical movement of the meme tokens. It added that the community requires awareness that increases from speculative tokens that just see minimal development operations (at best). According to Santiment, this can usually signify that the whole crypto industry may be turning toward an overheated zone.
