- Large wallets drive meme coin gains, but retail FOMO may trigger corrections once greed signals peak.
- DOGE, PEPE, and WIF saw early spikes; BONK lagged, signaling delayed market sentiment before peaking.
- Rising trading volumes and social dominance hint at steady momentum, but greed remains a critical warning sign.
Meme coins are gaining traction as Dogecoin, PEPE, Dogwifhat (WIF), and BONK show increasing price activity. According to Santiment on X, large wallet holders are driving market caps upward. Meanwhile, retail traders appear poised to join the momentum. However, greed signals remain a significant factor that could trigger sudden corrections once retail FOMO peaks. From early November to December, price spikes and social dominance trends have shaped these meme coins’ trajectories.
Greed Signals and Price Corrections
On November 12, Dogecoin, PEPE, and WIF exhibited clear greed signals. Consequently, this led to notable price drops shortly after. During this period, DOGE experienced a sharp rise, followed by a gradual taper. Similarly, PEPE and WIF displayed sudden spikes before retracing, aligning with investor sentiment shifts.
However, BONK followed a delayed pattern. On November 16, it registered its own greed signals, peaking four days after the other three. This delay suggests that market sentiment lagged for BONK, unlike its peers. Its price climbed alongside rising social dominance but declined shortly after.
Trading Volume and Social Dominance Trends
Throughout late November, all four meme coins remained active with intermittent price movements. Besides, BONK showed temporary spikes in social dominance before stabilizing alongside its price. By December 7, PEPE experienced minor greed signals, but prices for all coins remained relatively stable. This stability marked a departure from November’s volatile corrections.
Moreover, Santiment’s data highlights a steady increase in trading volumes across DOGE, PEPE, WIF, and BONK. Additionally, social dominance trends varied among the coins. DOGE and BONK showed significant peaks during price surges. Meanwhile, PEPE and WIF recorded more moderate increases.
Market Outlook for Meme Coins
By early December, all four meme coins displayed upward trends alongside increased trading activity. Significantly, prices did not face sudden retracements despite minor greed signals. Furthermore, social dominance for DOGE, PEPE, WIF, and BONK reflected steady upward momentum.
Hence, meme coin traders should closely monitor price movements and investor sentiment. While large wallets appear to drive gains, greed remains a critical signal. When retail traders join the fray, sharp corrections could follow. Santiment’s analysis shows the delicate balance between market speculation and greed, influencing meme coin fates.
