Shiba Inu, Dogecoin And Floki Set To Eclipse Bitcoin's Legacy After Market Chaos, Says Analytics Firm
Portfolio Pulse from Murtuza Merchant
The recent market downturn has led to significant declines in cryptocurrency market caps, sparking debate among traders and investors. Crypto analytics firm Santiment suggests that the average returns on altcoins are currently in a 'mathematically historic opportunity zone', indicating potential upside for investors. Despite the market turmoil, the number of substantial Bitcoin wallet holders hasn't declined, suggesting confidence among seasoned investors. The overall cryptocurrency market has experienced a significant drop, with Ripple, Solana, Dogecoin, and Shiba Inu seeing decreases of 13%, 11.3%, 15.6%, and 21% respectively in the past week.
August 20, 2023 | 1:32 pm
News sentiment analysis
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NEGATIVE IMPACT
Dogecoin has seen a decrease of 15.6% in the past week.
Dogecoin has experienced a significant decrease in value in the past week, which could potentially lead to a further decrease in the short term due to the current market conditions.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Shiba Inu has seen a decrease of 21% in the past week.
Shiba Inu has experienced a significant decrease in value in the past week, which could potentially lead to a further decrease in the short term due to the current market conditions.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Solana has seen a decrease of 11.3% in the past week.
Solana has experienced a significant decrease in value in the past week, which could potentially lead to a further decrease in the short term due to the current market conditions.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Ripple has seen a decrease of 13% in the past week.
Ripple has experienced a significant decrease in value in the past week, which could potentially lead to a further decrease in the short term due to the current market conditions.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Despite market turmoil, the number of substantial Bitcoin wallet holders hasn't declined, suggesting confidence among seasoned investors.
The number of substantial Bitcoin wallet holders hasn't declined despite the market downturn, suggesting that seasoned investors are confident and may be viewing the current market conditions as a buying opportunity. This could potentially stabilize the price of Bitcoin in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70