According to the statement made by Santiment, one of the most well-known analysis companies in the cryptocurrency world, as Bitcoin exceeded the $ 31,000 threshold, remarkable movements began in some altcoins.
According to Santiment analysts, Pepe (PEPE) has climbed 16%, Dogelon Mars (ELON) 57% and HarryPotterObamaSonic10Inu (BITCOIN) 36% in the last seven days. These three cryptocurrencies, like all other memecoins, do not have any intrinsic value and are used purely for speculation in the cryptocurrency market.
In addition, analysts also evaluated the status of the three memecoins in question according to their onchain data. According to analysts, there is a bullish outlook as PEPE’s supply in the stock markets is in a downward trend, and a bearish outlook is in favor as ELON’s supply in the stock exchanges is in an upward trend.
PEPE was recently the subject of a major dispute among developers. Some main developers sold tokens from their multisig wallets without permission, causing a sudden dump in the PEPE price. The current PEPE management claimed that they had gotten rid of the bad apples within themselves and would focus more on PEPE from now on.
*This is not investment advice.
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Source: https://en.bitcoinsistemi.com/santiment-analysts-three-memecoins-surge-with-bitcoin-leading-the-way/