Online chatter around memecoins has surged to a year-to-date high, signalling a renewed wave of speculative interest among traders, according to a recent blog post from blockchain analytics firm Santiment.
This uptick follows a brief focus on Bitcoin (BTC) and layer-1 protocols during recent market turbulence triggered by tariff announcements from the Trump administration. However, interest has quickly pivoted, with high market cap memecoins now dominating crypto conversations.
“Traders are increasingly chasing short-term wins rather than relying on long-term fundamentals,”
said Brian Quinlivan, Santiment’s marketing director.
He noted that discussions around high-risk tokens have intensified, reflecting a growing preference for speculative plays over calculated investment strategies.
The broader crypto market has climbed 10% over the past eight days, outpacing Bitcoin’s 7% gain—a trend that Quinlivan interprets as traders rotating into riskier assets in search of bigger profits.
“When Bitcoin starts to plateau after leading an initial rally, it often signals a shift where traders begin exploring higher-risk opportunities for amplified returns,”
he explained.
Dogecoin (DOGE), in particular, has experienced a resurgence in positive sentiment after a notable decline throughout April. The revival coincides with several DOGE exchange-traded fund (ETF) applications filed in the U.S., sparking renewed optimism despite regulatory delays. The Securities and Exchange Commission is not expected to decide on the filings until mid-June.
“DOGE’s social dominance has spiked to its highest in nearly three months,” Quinlivan added, attributing the spike to increased discussion surrounding Nasdaq-linked ETF listings.
Meanwhile, PumpSwap, the decentralized exchange of memecoin launchpad Pump.Fun has also seen explosive growth. According to DeFiLlama, its monthly trading volume skyrocketed to $11 billion in April, a sharp rise from $1.7 billion in March, underscoring the market’s appetite for speculative assets. The return of memecoins to the spotlight highlights a broader trend: as Bitcoin stabilizes, traders appear more willing to embrace risk in pursuit of quick gains.
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