The prices of various meme coins have been seeing an upward surge. Dogecoin and BONK particularly are seeing double-digit increases with their prices rising by more than 20% each in the past 7 days.
This trend has captured the attention of the cryptocurrency community, prompting discussions about the factors driving this momentum.
According to Santiment, a leading analytics platform, “Meme coins like Dogecoin (+12%) and Bonk (+13%) have been major stories Wednesday, with spikes in prices across the sector.”
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They noted that these speculative assets are experiencing a resurgence as Bitcoin profits are being redistributed within the market. This redistribution appears to be fueling interest in altcoins, allowing them to thrive.
Santiment further emphasizes that altcoins can continue to rise in value if crowd FOMO doesn’t disrupt the flow. Positive market sentiment is needed to sustain this upward trajectory.
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