Santiment, a cryptocurrency analysis company, stated in its announcement that signs of FOMO have started to be observed in the market.
According to Santiment’s post, memecoins have seen surprising gains today. Analysts cite PEPE, which is up over 75% today, FLOKI, up 50%, and WIF, up 51%.
Santiment analysts believe that the increase in memecoins is a sign of FOMO in the cryptocurrency market, and cryptocurrency investors should be cautious.
The price of Bitcoin has attempted to rise above $57,000. Previously, BTC reached an all-time high of $69,000 in 2021.