Ethereum

Shiba

SushiSwap

Shiba Inu

Avalanche

<div class="dailyhodl">
 <p>On-chain activity suggests Ethereum (ETH) and two altcoins could be primed for short-term price rallies, according to the crypto analytics firm Santiment.</p>
 <p>Santiment notes that ETH, Shiba Inu (SHIB) and SushiSwap (SUSHI) traders displayed “mild signs of panic” on Thursday.</p>
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 <p>All three networks displayed some of the highest levels of trader loss-taking (versus profit) in 2023, according to the analytics firm. Santiment notes the loss-taking indicators are big capitulation signals and are “typically signs of a short-term rebound opportunity.”</p>
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/F7xGCU2bAAAK7SM?format=jpg&amp;name=4096x4096" alt="Image" width="2757" height="1752">
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   Source: Santiment/X
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 <p>ETH is trading at $1,648 at time of writing. The second-ranked crypto asset is up nearly 2% in the past 24 hours.</p>
 <p>SHIB, a Dogecoin (DOGE) rival, is trading at $0.000007 at time of writing. The 19th-ranked asset by market cap is up 0.67% in the past 24 hours.</p>
 <p>Sushiswap is a multi-chain decentralized exchange (DEX). The project’s native asset, SUSHI, is trading around $0.578 at time of writing and is up more than 3% in the past 24 hours.</p>
 <p>Santiment also notes that traders are bullish on Ethereum rival Avalanche (AVAX) due to the buzz around the recently launched Friend.tech challenger Stars Arena, a decentralized social finance application (SocialFi) on the AVAX blockchain. The analytics firm notes the Stars Arena launch led to an “injection” of new AVAX address activity.</p>
 <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/F7tnMXra0AAE43n?format=jpg&amp;name=4096x4096" alt="Image" width="2536" height="1730">
  <figcaption class="wp-caption-text">
   Source: Santiment/X
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 <p>AVAX is trading at $10.66 at time of writing. The 21st-ranked crypto asset by market cap is up nearly 5% in the past 24 hours.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/on-chain-activity-hints-at-short-term-rebound-opportunities-for-ethereum-and-two-altcoins-santiment-tbt65515.html">https://thebittimes.com/on-chain-activity-hints-at-short-term-rebound-opportunities-for-ethereum-and-two-altcoins-santiment-tbt65515.html</a></p>

On-Chain Activity Hints at Short-Term Rebound Opportunities for Ethereum and Two Altcoins: Santiment

TheBitTimes

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