Memecoin Whales Tease Retail Investors, Aiming to Trigger FOMO

• The exercise of Memecoin whales signifies a deliberate transfer to set off FOMO.

• The whales are affecting mini outbreaks in a number of memecoins.

• DOGE, PEPE, WIF and BONK all skilled mini outbreaks this weekend.

Information from Santiment, a market evaluation platform, has revealed a growing pattern amongst memecoins within the cryptocurrency market. In a latest submit on

In line with Santiment’s latest submit, bigger pockets holders brought about mini outbreaks throughout a number of memecoins. Their aim right here is to affect the market capitalizations of memecoins equivalent to Dogecoin (DOGE), Pepe (PEPE), Dogwifhat (WIF) and Bonk (BONK). These massive pockets holders are doing this to draw retail buyers till the Worry Of Lacking Out (FOMO) returns to the memecoin sector.

From Santiment’s standpoint, triggering a FOMO within the memecoins sector would create grasping sentiment and entice extra retail buyers to the market, inflicting costs to rise. Afterwards, the bigger pockets holders bought their baggage, resulting in a normal retracement within the memecoins market.

In the meantime, DOGE, the highest-ranked memecoin by market cap, has maintained bullish momentum because the crypto market breakout on November 5. The memecoin is up 241% within the present rally, with its value rising above $0.48 for the primary time since 2021. The highest memecoin was buying and selling at $0.4694 on the time of writing, in accordance with information from TradingView.

PEPE adopted the same value pattern and is up 243% since November 5. The frog-themed memecoin rose 32% this weekend to hit a brand new all-time excessive. Regardless of Santiment’s retracement forecast, PEPE displays notable momentum, suggesting greater value targets because the memecoin discovers new value ranges.

In the meantime, WIF noticed a 158% enhance following the crypto market breakout on November 5. Nevertheless, the memecoin recovered considerably earlier than heading again to the upside, whereas BONK fell from a 243% rally earlier than regaining momentum to commerce at $0.00004697 on the time of writing.