![\"Memecoin](\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjYtMDIvMDE5YzVhNmMtNjA3OC03NjRmLWEwNWYtMDRjZDQ2Nzc0NzVkLmpwZw==.jpg\")
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The total memecoin market capitalization has dropped roughly 34% over the past month as the broader market sold off, but Santiment suggests the slump may not last long.<\/p>\n
A reversal in memecoins could come sooner than traders expect, even amid choppy conditions across the broader crypto market, if history is any indication, according to crypto sentiment platform Santiment.<\/p>\n
\u201cThere is a growing narrative of “nostalgia” regarding memecoins, with many traders treating the sector as if it is permanently dead,\u201d Santiment said<\/a> in a report published on Friday.<\/p>\n \u201cThis collective acceptance of the ‘end of the meme era’ is a classic capitulation signal,\u201d Santiment said, explaining that when a sector of the market is completely written off, it is often the \u201ccontrarian time\u201d to start paying attention.<\/p>\n Read more<\/p>\n<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n