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Cryptocurrency analysis company Santiment analysts focused on three altcoins and a common aspect of them in an analysis published today.
According to analysts, Pepe (PEPE), Fetch AI (FET) and Ethereum Name Service (ENS) interestingly experienced huge jumps in their network growth simultaneously. There was an incredible increase in the newly created wallet number charts of all three altcoins.
Santiment analysts said that when they see an increase in the number of new addresses being created, they believe it is either due to FOMO due to rising prices or a potential bullish move.
However, they also added that the sudden increase in wallet numbers for ENS was due to FOMO arising from rising prices.
On the other hand, FET is joining forces with two other different artificial intelligence-themed altcoins with a large token combination. According to analysts, the increase in the number of wallets in this altcoin is also attributed to this. Analysts also shared that they expect high volatility regarding FET:
“The merger date with OCEAN and AGIX was planned for June, but was postponed to July 15, 2024. “Expect crazy volatility leading up to this date.”
*This is not investment advice.