Meme coins have surged in the past week, with the charts glowing green. Greener pastures or just another pump-and-dump?
Memecoins are back in the spotlight as traders shift significant capital into the highly volatile and speculative market. As older memecoins like Dogecoin and Shiba Inu hold strong, new contenders have rallied with notable gains.
Fartcoin and Trump are examples of newer memecoins with notable market caps and gains in the past week. According to CoinMarketCap data, the charts reveal even capital inflow into the memecoins, suggesting a new cycle after weeks of volatility.
Should you consider memecoins?
Whether new or old and established memecoins, community hype could impact a coin’s behaviour. With a bullish community sentiment, the memecoin market could be poised for a rally in the mid-term, raking in profits for traders with a high risk appetite.
In such a case, now could be a good time to consider memecoins such as DOGE, FLOKI, and SHIB for accumulation. However, one should do their own research and understand that memecoins are highly volatile and risky due to their speculative nature.
