Memecoins such as Dogecoin, Pepe, Bonk, and Dogwifhat are experiencing significant activity due to Bitcoin's recent surge. Large wallets are primarily driving these increases in value.

The behavior of large holders suggests that they might soon sell once retail investors, driven by FOMO, enter the market, potentially leading to price retracements.

This cyclical pattern is common, where initial pumps create a FOMO wave followed by a sell-off from major holders, impacting the prices of these memecoins.