Cryptocurrency analysis company Santiment analysts listed altcoins that may be under the influence of FOMO or FUD in their statement.
According to Santiment analysts, some altcoins have been experiencing moderate price breaks in the last few days. These include Cartesi (CTSI), Ondo Finance (ONDO), Dogecoin (DOGE), Amp (AMP) and Manta Network (MANTA).
Analysts claimed that the pumping altcoins in this list are likely to experience a correction in the short term, while the declining altcoins are likely to bounce.
According to analysts, the reason for this situation is that traders who are new to trading in the market and the mainstream community are starting to talk about such altcoins due to their current price movements. Santiment believes that these discussions of price movements create either FOMO-related peaks or FUD-related troughs.
Bitcoin price rose above $48,000 after Spot ETF approvals, but as the “sell the news” view gained strength, it is trading at $39,800 at the time of writing.
*This is not investment advice.