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Dogecoin & Other Memecoins No Longer Grabbing Social Media Attention: Santiment

  • The analytics firm Santiment has revealed how social media traders have shifted their attention from Dogecoin and other memecoins to Bitcoin.
  • The Social Dominance indicator, which measures the percentage of social media discussions related to the top 100 coins, shows a decline in the dominance of memecoins.
  • Investor attention has shifted to Bitcoin and other layer 1 assets, leading to an increase in their combined social dominance.
  • The shift in social dominance indicates a shift from greed to fear among investors, potentially leading to a further decline in the cryptocurrency sector.

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