Benzinga - The altcoin market has been facing a prolonged period of decline since the mid-July peak, resulting in a significant drop in trader interest for popular memecoins, on-chain analytics platform Santiment said on Wednesday.
What Happened: Notably, meme coins such as Dogecoin (CRYPTO: DOGE), Dogelon Mars (CRYPTO: ELON), Pepe Coin (CRYPTO: PEPE), and Shiba Inu (CRYPTO: SHIB) have fallen off the radar for traders, exhibiting a reduced level of overall market attention, Santiment data shows.
"Memecoins are showing a smaller ratio of overall trader interest than they have in some time," Santiment tweeted.