Here Are The Hottest Altcoins To Buy As The Bull Market Returns – Santiment
December 22 2023 - 10:00AM
NEWSBTC
As the bull market returns, market intelligence platform Santiment
has provided some insights into altcoins that one should keep an
eye on. This comes as other altcoins like Solana (SOL) and Cardano
(ADA) are already leading the way on the back of a significant
rally from both tokens. Four Altcoins To Keep An Eye On In a post
on their X (formerly Twitter) platform, Santiment highlighted ETH,
SHIB, FET, and DENT as four altcoins to keep an eye on. These four
crypto tokens are said to be seeing their top 10 respective
exchange wallets move coins away from exchanges. This usually
connotes a long-term bullish signal as it suggests that these
wallets are moving the tokens to cold storage. Related
Reading: Renewed Hope For Crypto: 2023 Sets The Stage For A
Monumental 2024 The timing is also important. Many anticipate that
the next bull run is around the corner, while some even say that it
has already begun. Whatever the case might be, it is obvious that
crypto investors are looking to position themselves ahead of the
market boom that lies ahead. As such, the decline of these coins on
exchanges could mean that some people are betting big on them.
According to further data provided by Santiment, Ether has seen a
4.3% drop in the holdings of these top 10 exchange wallets in the
last 3 months. In the same period, Shiba Inu (SHIB) and DENT have
seen 2.7% and 1.5% drop respectively. Fetch.ai’s FET happens to
have been the most significant drop among the four at 26.1%. ETH
will undoubtedly be among the altcoins that crypto investors will
be keeping an eye on in the next bull run. If certain price
predictions are anything to go by, the second-largest crypto token
by market cap could be one of the best performers in the next
cycle. For one, the Blockchain analytics platform Token Terminal
predicts that it will rise to as high as $13,000. Total
market cap recovers above$1.62 trillion | Source: Crypto Total
Market Cap on Tradingview.com Shiba Inu Could Be A Dark Horse
From Santiment’s report, it is obvious that crypto investors
believe that Shiba Inu (SHIB) could be one of the best-performing
tokens in the next bull run. The reason is not farfetched, as the
team and community continue to show they are committed to the meme
coin’s growth. This is evident in how Shibarium’s utility has
increased significantly, which could potentially affect SHIB.
Related Reading: Solana Headed To $100? Here’s What’s Driving The
Growth Another milestone that can be credited to the team and
community is the spike in SHIB burns. Recently, Bitcoinist reported
how the SHIB burn rate has spiked by 420%. The majority of these
tokens burnt are from transaction fees made on the Shibarium
network. The Shiba Inu team had committed to converting some of
these fees to SHIB and burning them. The SHIB burn rate will
continue to spike, considering that Shibarium’s utility will more
likely than not see new highs when the bull market returns. As the
meme coin continues to see its circulating supply decline, one can
expect its value to rise. Therefore, there is no doubt that SHIB
should be one altcoin that many should keep an eye on.
Featured image from Binance, chart from Tradingview.com
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