Retail Traders Embracing ‘Gamble’ Mindset As Memecoin Discussions Hit Highest Level This Year, Warns Santiment
The gambling mentality is becoming the dominant mindset among crypto traders amid a surge in memecoin discussions, according to analytics firm Santiment. In a new report, Santiment says that memecoin mindshare is making a comeback despite the recent high-profile collapses of several assets in the sector. Santiment says that the rise in memecoin-centered discussions on social media suggests an increase in speculation and short-term investing mentality. “Memecoins, in particular, are once again gaining considerable attention. Online discussions about these high-risk tokens have proliferated as traders embrace a ‘gamble’ mindset, rather than a calculated investment approach. Notice how social volume has been creeping up for top market cap meme coins, and declining for layer-1s and layer-2s. This is a telltale sign that traders are increasingly investing based solely on speculation and short-term gains.” Source: Santiment Santiment says that...