Dogecoin, Dogelon Mars, Pepe, Shiba Inu Lose Traders' Interest Amid 3-Month Market Slump
Portfolio Pulse from Mehab Qureshi
The altcoin market has been facing a decline since mid-July, leading to a drop in trader interest for popular memecoins such as Dogecoin (CRYPTO: DOGE), Dogelon Mars (CRYPTO: ELON), Pepe Coin (CRYPTO: PEPE), and Shiba Inu (CRYPTO: SHIB), according to on-chain analytics platform Santiment. DOGE is currently experiencing its lowest discussion rate since 2020, indicating a significant decrease in enthusiasm and engagement. Despite a temporary setback, PEPE managed to regain some traction and attention from traders.
September 28, 2023 | 9:32 am
News sentiment analysis
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NEGATIVE IMPACT
Dogecoin (CRYPTO: DOGE) is experiencing its lowest discussion rate since 2020, indicating a significant decrease in enthusiasm and engagement.
The decrease in discussion rate and trader interest for Dogecoin suggests a potential decrease in its price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Dogelon Mars (CRYPTO: ELON) has seen a decrease in trader interest.
The decrease in trader interest for Dogelon Mars suggests a potential decrease in its price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Shiba Inu (CRYPTO: SHIB) has seen a decrease in trader interest.
The decrease in trader interest for Shiba Inu suggests a potential decrease in its price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEUTRAL IMPACT
Pepe Coin (CRYPTO: PEPE) saw a slight dip following a notable 19% weekly uptick but managed to regain some traction and attention from traders.
Despite a slight dip, Pepe Coin managed to regain some traction, suggesting a neutral impact on its price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Bitcoin (CRYPTO: BTC) was trading at $26,365.36, up 0.43% in the last 24 hours.
The news does not directly impact Bitcoin, but the overall decline in the altcoin market could potentially drive more investors towards Bitcoin, hence the slight increase in price.
CONFIDENCE 90
IMPORTANCE 50
RELEVANCE 50