Attention Shifts to Top Crypto Assets as Meme Coin Mania Fades: Santiment

“The crypto community has largely shifted their attention to Bitcoin and other layer-1 assets like Ethereum, Solana, Toncoin, and Cardano,” reported Santiment on Feb. 11.

It added that, collectively, the top L1 assets are getting 44% of discussions among specific cryptocurrencies, while top meme coins like Dogecoin, Shiba Inu, and Pepe are being discussed less and less across social media.

“This is likely thanks to the recent volatility and speculative altcoin price dominance falling behind,” analysts noted.

More Sustainable Market Environment

Santiment suggested that this was a positive shift in trader attention, which is “generally a sign of a more stable and sustainable market environment.”

Meme coins, which are driven by “hype, viral trends, and a gambling mindset rather than fundamental value,” signal a phase of “excess greed where traders chase rapid, short-term gains without considering long-term viability,” it said.

Bitcoin and layer-1 networks represent the foundational infrastructure of the crypto space, it said before adding that “increased focus on these assets usually reflects a more mature and informed approach by the community, which prioritizes security, innovation, and real-world adoption.”

“When traders pivot back to assets with strong utility and established market positions, it suggests a healthier market cycle.”

The crypto community has largely shifted their attention to Bitcoin and other Layer 1 assets like Ethereum, Solana, Toncoin, and Cardano. Collectively, the top Layer 1 assets are getting 44.2% of discussions among specific coins. Meanwhile, top meme coins like Dogecoin, Shiba… pic.twitter.com/PpBjD9vSi4

— Santiment (@santimentfeed) February 10, 2025

Santiment concluded that the positive sentiment shift encourages a more balanced ecosystem, reducing the risk of “speculative mania,” while the decreased discussion rates for meme coins show that we are in a “healthy cool-down” period.

Recent meme coin mania was fueled by the launch of Donald Trump’s namesake coin (TRUMP) in mid-January. The token, which has no utility whatsoever, surged to around $73 before crashing by 78% to current levels around $16 just three weeks later.

Crypto Market Outlook

Crypto markets are showing slim signs of recovery today, with total market capitalization up marginally to $3.35 trillion.

Bitcoin has led the way as usual reclaiming $98,000 during the Tuesday morning Asian trading session. However, it has still been down-trending since its Jan. 20 all-time high.

#BTC

This Bitcoin cycle has been a story of Re-Accumulation Ranges

And as has been the case throughout the cycle…

Any downside deviations below the Range Low (green) will represent outsized bargain opportunities for Bitcoin$BTC #Crypto #Bitcoin https://t.co/kfS48DYzbr pic.twitter.com/wJ5i3NBnly

— Rekt Capital (@rektcapital) February 10, 2025

Ethereum returned to $2,700 but remains severely weakened and continues to lose ground against BTC. ETH needs to clear resistance at $3,100 to show any real recovery signals.

Altcoins were faring a little better, with XRP, BNB, and DOGE making larger gains and ADA surging 14% following a spot ETF application from Grayscale.