Online discussions about memecoins have hit a year-to-date high, gaining considerable attention after sentiment cooled earlier in the year, according to onchain analytics platform Santiment.\u00a0<\/p>\n
Two weeks ago, discussions around Bitcoin (BTC<\/a>) and layer-1 protocols<\/a> peaked during the market volatility brought on by the Trump administration\u2019s sweeping tariffs. However, that\u2019s since shifted to high market cap memecoins, Santiment marketing director Brian Quinlivan said<\/a> in a May 1 blog post.<\/p>\n \u201cOnline discussions about these high-risk tokens have proliferated as traders embrace a gamble mindset, rather than a calculated investment approach,\u201d he said.<\/p>\n \u201cThis is a telltale sign that traders are increasingly investing based solely on speculation and short-term gains,\u201d Quinlivan added.<\/p>\n Online discussions about memecoins have hit a 2025 high, surpassing discussions about Bitcoin. Source: <\/em>Santiment<\/em><\/a><\/p>\n Quinlivan said the overall crypto market rose 10% in the past eight days, but Bitcoin only gained 7%, which indicates traders are flocking to more speculative assets.<\/p>\n \u201cAny time Bitcoin leads an initial rally and then begins to move sideways, investors generally start taking bigger risks in hopes of scoring even higher returns through more speculative and riskier purchases,\u201d he said.<\/p>\n In particular, Dogecoin (DOGE<\/a>) has seen a notable spike in positive crowd sentiment after a major decline in crowd interest during April, as various applications<\/a> for DOGE exchange-traded funds were filed in the US.<\/p>\n Despite the Securities and Exchange Commission delaying its decision on these filings until mid-June<\/a>, Quinlivan says traders are in a state of cautious anticipation.<\/p>\n \u201cUntil late April, DOGE had been on a major decline in terms of crowd interest. But its social dominance has spiked to its highest level in nearly three months, as the conversations and filings surrounding Nasdaq\u2019s ETF listings have risen,\u201d he said.<\/p>\n Dogecoin has seen a notable spike in positive crowd sentiment. Source: <\/em>Santiment<\/em><\/a><\/p>\n DefiLlama data shows PumpSwap, the decentralized exchange<\/a> of the memecoin launch platform Pump.Fun saw<\/a> a spike to $11 billion in monthly trading volume during April after recording only $1.7 billion in March.<\/p>\n Related: <\/strong><\/em>Crypto token failures soar, with 1 in 4 launched since 2021 dying in Q1: CoinGecko<\/strong><\/em><\/a><\/p>\n Meanwhile, Pump.Fun\u2019s monthly trading volume rose<\/a> to $3.3 billion in April, up from $2.5 billion in March.<\/p>\n Memecoin activity exploded after the launch of US President Donald Trump\u2019s memecoin<\/a> on Jan. 18, with Pump.fun usage recording a high<\/a> of $3.3 billion in weekly trading volume.<\/p>\n However, traders soon cooled on memecoins. CoinGecko founder Bobby Ong said in a March 6 report<\/a> that memecoin investor interest dropped after a series of bad launches, noting the fallout from the Libra (LIBRA)<\/a> token launch in February as a significant catalyst.\u00a0<\/p>\nDogecoin discussions spike on ETF news<\/h2>\n