Meme coins like Dogecoin and Shiba Inu have reached record popularity, coinciding with Bitcoin's rise to $69,000, spurring interest among traders and causing these assets' prices to soar.

Rise in Meme Coin Popularity

According to Santiment, meme coins such as Dogecoin and Shiba Inu have become the most discussed cryptocurrencies in the past five months. This surge in popularity corresponds with Bitcoin reaching $69,000, prompting traders to invest in high-risk assets.

Changes in the Crypto Landscape

While the crypto market's attention is on meme coins, Layer 2 solutions such as Arbitrum and Optimism are being overlooked. However, historical data suggests that overlooking advanced technologies can indicate future growth opportunities. Dogecoin's price rose by 30% over the week, while Shiba Inu increased by 8%.

Outlook for Layer 2 Solutions

In the current market scenario, top Layer 2 blockchains such as Arbitrum and Optimism have been overshadowed by meme coins. Santiment notes this may be a potential growth signal for these solutions in the future. While Bitcoin and Solana maintain dominance among Layer 1 technologies, overlooked Layer 2 solutions might soon show growth.

Meme coins continue to attract attention both socially and financially. Meanwhile, Layer 2 solutions may offer new growth opportunities if the current interest in meme coins starts to wane.