The prominent cryptocurrency analysis platform, Santiment, in its latest announcement highlighted that some of the major altcoins including Ripple‘s XRP, Cardano (ADA), and Shiba Inu (SHIB) are trading at a lower price than they should, emphasizing that “they are going for a bargain”. Here are the altcoins that Santiment considers cheap.
Cheap 7 Altcoins According to Santiment
According to Santiment, XRP, ADA, and SHIB possess market values that surpass their executed market values, indicating a potential price increase. Other altcoins that the company regards as cheap in addition to these three include Dogecoin (DOGE), Polygon (MATIC), Uniswap (UNI), and Chainlink (LINK).
Based on their short, medium, and long-term realized value analysis, the crypto analysis platform emphasizes that all these altcoins could sharply rise in the coming weeks and months.
On the other hand, data shows varying performances for all these altcoins over the past week. Claims that the Ripple-SEC case would be resolved sparked a 11.6% increase in XRP over a 7-day period, rising above $0.54. At the time this article was written, ADA, trading at $0.37, lost 1.3% of its value in the last 7 days. SHIB, the second largest memecoin, lost 2.80% of its value in the same timeframe. It is observed that DOGE, MATIC, UNI, and LINK have respectively dropped 2.05%, 4.28%, 3.28% and 3.12% in the last week.
Bitcoin’s Pressure Suppressing Altcoins
Bitcoin (BTC), the largest cryptocurrency, is under selling pressure, which in turn suppresses the price of altcoins. BTC, which has lost 3.90% of its value in the last 7 days, is changing hands at $26,809, below $27,000.
Macro developments, along with many market observers and experts expecting a pullback to $25,000, even $23,000 in Bitcoin, continue to fuel the selling pressure on the leading cryptocurrency.
