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<p>Leading on-chain analytics provider <strong>Santiment</strong> <a href="https://twitter.com/santimentfeed/status/1762548671915413969" target="_blank" rel="noreferrer noopener nofollow">cautions</a> that the abrupt rebound across speculative meme coins like PEPE, Floki, and WIF warrants caution signs for the broader cryptocurrency market outlook.</p> 
<p>Alongside the explosive rally by non-fundamental dog coins, record Bitcoin ETF volume hint overeager bulls could face harsh pullbacks if momentum stalls.</p> 
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<p><em>Source: <strong><a class="thirstylink" rel="nofollow" target="_blank" title="Santiment" href="https://captainaltcoin.com/go/santiment/" data-shortcode="true">Santiment – Start using it today</a></strong></em></p> 
<h2 class="wp-block-heading" id="meme-coin-fever-returns-alongside-bitcoin-s-59k-push">Meme Coin Fever Returns Alongside Bitcoin’s $59k Push</h2> 
<p>Santiment flags concerning parallels emerging as Bitcoin powered to its highest levels in over 15 months this week, approaching the psychologically notable $60,000 threshold – only for meme tokens like PEPE and Wifedoge to concurrently gain significant traction.</p> 
<p><strong>“<a class="wpil_keyword_link" href="https://captainaltcoin.com/meme-coins/" title="Meme" data-wpil-keyword-link="linked" target="_blank">Meme</a> coins are gaining significant increased traction and market cap growth on an otherwise flat Tuesday,” </strong>the researchers noted Tuesday, listing PEPE up 63%, Floki climbing 44%, and WIF surging 43% on the day against modest moves elsewhere.</p> 
<p>According to Santiment’s findings during past market cycles, sharp diversion of capital from Bitcoin into extremely speculative derivative assets often marked exhaustion turning points – making the developments this week a ‘caution flag’ worth monitoring closely.</p> 
<h2 class="wp-block-heading" id="record-outflows-from-bitcoin-investment-trusts">Record Outflows from Bitcoin Investment Trusts</h2> 
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 <img loading="lazy" decoding="async" width="1024" height="705" src="https://captainaltcoin.com/wp-content/uploads/2024/02/image-1034-1024x705.png" alt="" class="wp-image-444911" srcset="https://captainaltcoin.com/wp-content/uploads/2024/02/image-1034-1024x705.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-1034-300x207.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-1034-768x529.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-1034-1536x1058.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-1034-2048x1411.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-1034-218x150.png 218w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-1034-100x69.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-1034-508x350.png 508w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-1034-788x542.png 788w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>Santiment also <a href="https://twitter.com/santimentfeed/status/1762743871606526084" target="_blank" rel="noreferrer noopener nofollow">highlights</a> the Grayscale Bitcoin Trust (GBTC) posting consecutive all-time high daily outflows this week above $7.64 billion, indicating holders are urgently redeploying exposure elsewhere. Similar dynamics plagued GBTC, leading to previous bear trends.</p> 
<p><strong>“Speculated to largely be contributed to investors’ combined FOMO and profit taking surrounding Bitcoin breaking new 2-year high market values this week…”</strong></p>  
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<p>If the goal proves rotating short-term gains into lagging small caps like meme tokens in hopes of igniting a bull run, history shows retail’s actions could badly backfire if Bitcoin sentiment flips bearish.</p> 
<p>Thus, Santiment cautions on the troubling signs of overextension and greed across areas like meme tokens, just as layers of resistance overhead look to challenge Bitcoin’s ascent, threatening a swift mood change if unsupported buying dries up.</p> 
<p>You may also be interested in:</p> 
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 <li><a href="https://captainaltcoin.com/stacks-stx-and-pyth-network-pyth-prices-pumping-heres-why/" target="_blank" rel="noreferrer noopener">Stacks (STX) and Pyth Network (PYTH) Prices Pumping – Here’s Why</a></li> 
 <li><a href="https://captainaltcoin.com/xrp-price-faces-downward-pressure-investors-turn-to-bdag-and-pushd/" target="_blank" rel="noreferrer noopener">SEC vs Ripple Lawsuit Prompts Investors to Turn Towards BlockDAG’s $2M Presale</a></li> 
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<p>The post <a href="https://captainaltcoin.com/fomo-towards-pepe-and-these-meme-coins-raises-caution-flag-for-crypto-markets-warns-analyst/">FOMO Towards PEPE and These Meme Coins Raises Caution Flag for Crypto Markets, Warns Analyst</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

FOMO Towards PEPE and These Meme Coins Raises Caution Flag for Crypto Markets, Warns Analyst

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