Cryptocurrency analytics firm Santiment has suggested that Ethereum (ETH), Shiba Inu (SHIB) and SushiSwap (SUSHI) investors may have recently been displaying “mild signs of panic”. This decreased activity could indicate a potential short-term rebound opportunity for all three networks. At time of writing, ETH was trading at $1,648 with a 24 hour increase of nearly 2%. Similarly, SHIB, a Dogecoin (DOGE) rival, was valued at $0.000007 and seen an increase of 0.67% while SUSHI, a multi-chain decentralized exchange (DEX) native asset, was situated at $0.578 with a 3% increase.

Santiment have also drawn attention towards the new launch of Friend.tech's Stars Arena, a decentralized social finance application (SocialFi) powered by Avalanche (AVAX). The successful launch is said to have led to an “injection” of AVAX address activity. At time of writing, AVAX is trading at $10.66 and had a 24 hour increase of nearly 5%.

It appears that Santiment believe that, overall, activity surrounding a number of altcoins are suggesting a potential opportunity for short-term rallies. Despite this, it must be kept in mind that cryptocurrencies remain notoriously volatile and investors should always conduct their own research before entering the market.



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