Santiment: Classic Capitulation Signal Appears in Meme Coin Market
PANews, February 14—According to Cointelegraph, on-chain data analytics platform Santiment stated that as traders generally believe the "Meme coin era is over," the market is showing "classic capitulation signals," which often present a contrarian opportunity. Santiment pointed out that when a particular sector of the market is completely out of favor, it often signals that the bottom is near. Data shows that the total market capitalization of Meme coins has dropped by 34.04% over the past 30 days to $31.02 billions.
Santiment also observed that pessimism about the crypto market on social media significantly outweighs optimism. This phenomenon, where skepticism persists even as prices rise, is a healthy sign that the market may continue to recover. Analysts noted that, unlike previous broad-based altcoin seasons, the next market cycle may be more selective, with only certain cryptocurrencies benefiting.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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