”Gamble Mindset” Returns As Meme Coin Buzz Hits Year High, Dogecoin Sentiment Soars
A “gamble mindset” has returned to the meme coin market as social sentiment around Dogecoin (DOGE) soars and the number of online meme coin mentions hits a year high. That’s according to onchain analytics firm Santiment, which said Bitcoin is again attracting investors with ”FOMO fear” while traders are increasingly investing in meme coins based solely on speculation and short-term gains. “Online discussions about these high-risk tokens have proliferated as traders embrace a gamble mindset, rather than a calculated investment approach,” Santiment’s marketing director Brian Quinlivan said in a May 1 blog post . Crypto Traders And Investors Enter “Greed-Driven” Phase As DOGE Sentiment Soars In the post, Quinlivan said that although Bitcoin led the crypto market in terms of gains during the final 8 days of April, funds had started to flow into smaller cryptos that are “more speculative.” As such, he claimed invest...