Santiment: Bearish sentiment on memecoins could signal market bottom

An analysis from crypto on-chain analytics platform Santiment suggests that the memecoin market has bottomed out and may be poised for a rebound. Santiment noted that the total market capitalization of memecoins has decreased by 34% over the past 30 days to $31.02 billion. The platform views widespread discussion about the end of the memecoin era as a typical sign of capitulation. According to Santiment, the ideal time to take an interest in a particular sector is precisely when the general public has abandoned it. The firm added that the prevalence of bearish opinions over bullish ones on social media could also be a signal that a market rebound is starting.