After a period of intense activity in the meme coin market, investors’ focus has shifted back to Bitcoin (BTC), Ethereum (ETH), Solana (SOL), TON, and other layer one blockchains. This shift may indicate a return to an upward trend in the market. According to Santiment data, these networks now account for 44.2% of social discussions related to digital currencies, potentially signaling a market comeback. Santiment’s team announced a decrease in discussions about meme coins like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE), possibly due to recent market fluctuations reducing the dominance of these cryptocurrencies. Bitcoin and other layer one cryptocurrencies like Ethereum and TON are considered the backbone of the crypto ecosystem. Increased trader attention to these assets may reflect market maturity and prioritize security, innovation, and real-world adoption. Historical data analysis shows that excitement around meme coins usually precedes a market correction. After a decrease in this excitement, a significant market price correction typically occurs. However, this change may help create a more balanced market as excessive use of financial leverage is declining. Santiment believes that waning interest in meme coins could indicate a move towards more stable trends. The gambling mindset associated with meme coins is now giving way to fundamental-based investments. This analysis aligns with predictions expecting a halt to widespread altcoin selling and a quick market rebound. At the time of writing, the price of Bitcoin has reached $98,143 with a 1.12% daily growth. Similar upward trends are observed in Ethereum, TON, and Cardano, with growth rates of 1.44%, 0.56%, and 3.30%, respectively. Although it’s not certain whether the market has definitively turned bullish, Santiment analysts believe the market is in a healthy consolidation phase. You can track the live prices of all tokens and cryptocurrencies on the momentary price page.
