Meme coins are experiencing more mini breakouts this weekend. Coins such as Dogecoin, Pepe, Dogwifhat, and Bonk are at the center of this activity, according to Santiment. Larger wallets are driving these market movements, potentially pushing market caps higher. This situation could continue until retail FOMO reappears again.

Dogecoin, Pepe, Bonk Experience Typical Price Cycles

Once the retail investors are aware and the excitement is at its high, the bigger fish tend to start exploiting the situation. They dispose, resulting in a steep price drop soon after that. This pattern has been seen in the past and will be seen again in the future.

On November 12, Dogecoin (DOGE), Pepe (PEPE), and Dogwifhat (WIF) all displayed indicators of a greed-based market. After this influx of interest, their prices went down a little after that, if I remember correctly. It was the same with the other tokens as the trend continued on November 16 when Bonk (BONK) received greed signals. Four days later, its price rose to the highest it would go before starting to decline.

Meme Coins Stability May Be Temporary; Gains Could Continue

Although, on December 7, the greed in exchanging Pepe was slightly higher than the previous days. However, the other three coins, DOGE, WIF, and BONK, remained pretty much flat throughout the trading period. This means that these coins are safe for now, however, more volatility for these coins cannot be ruled out. The current stability may be followed by further gains, but one should be careful.

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It reveals that meme coins have a different behavior from most other types of assets. The data also showed that buyers with big wallets are those that push the prices up higher. Their impact starts becoming visible when retail interest is active. When the market is getting crowded with buy interests, these big wallets tend to cash in. This leads to a very fast reversal of prices.

Therefore, meme coins such as DOGE, Pepe, Dogwifhat, and Bonk are experiencing some price hikes with caution. Retail FOMO is driving these mini breakouts but when the trend wears off a sell-off is expected to emerge, especially from larger wallets.