Santiment: “While Bitcoin and Ethereum experienced a decline, these two altcoins reached the top!” What Does This Situation Indicate?
Despite the decline in Bitcoin and Ethereum, the spotlight has shifted towards two alternative cryptocurrencies (altcoins) that have shown remarkable growth.
While Mem token popularity has been increasing in recent weeks, the majority of this attention is centered around mem tokens based on Solana (SOL).
Specifically, the rise of Solana-based BOME has attracted significant attention, accompanied by some controversy.
Due to the surge in Solana and BOME prices, SOL and BOME have emerged as the altcoins that have captured the most crowd attention over the weekend.
After analyzing SOL and BOME, Santiment has found that these two altcoins have outperformed not only Bitcoin and Ethereum, but also the overall cryptocurrency market in the past seven days.
Santiment also highlights that investors are increasingly considering Solana and SOL-based mem tokens as viable alternatives to altcoins based on Ethereum (ETH). This growing interest from the crowd could potentially indicate an impending retail investor frenzy.
“BOME and SOL have become the two top trending assets across social platforms such as Reddit, Telegram, and 4Chan, surpassing the performance of other cryptocurrencies recently.
“The crowd continues to perceive Solana and SOL-based mem tokens as reliable substitutes for Ethereum-based altcoins.”
Currently, Solana is trading at $203 at the time of writing.
*Disclaimer: This information is not to be construed as investment advice.