Santiment Identifies Altcoins Facing Rising FUD Amid Market Correction

In a recent analysis, cryptocurrency research firm Santiment highlighted several altcoins currently facing elevated levels of fear, uncertainty, and doubt (FUD).

They noted that the cryptocurrency market has experienced a correction, similar to trends observed in US stocks, leading traders to speculate that the bullish trend may have ended.

This shift has resulted in increased FUD among altcoins with market capitalizations over $500 million, as investor sentiment moves from optimism to skepticism.

Santiment identified Chainlink ( LINK ) with a decline of 371%, Bitcoin ( BTC ) down 226%, and Goatseus Maximus ( GOAT ) falling 118%.

Other affected coins include Dogecoin ( DOGE ) at -157%, XRP at -186%, and Pepe ( PEPE ) experiencing a staggering decline of 574%. Filecoin ( FIL ) saw a drop of 380%, while Shiba Inu ( SHIB ) plunged 719%. EigenLayer ( EIGEN ) showed a slight increase of 20%, and Beam ( BEAM ) fell by 425%.

The firm emphasized that even the most established projects in the cryptocurrency market are still highly speculative. Analysts pointed out that market movements frequently contradict prevailing sentiment, suggesting that the current bearish outlook on these cryptocurrencies could reverse over time.