Network Growth Surge
Data from Santiment shows that PEPE, FET, and ENS have experienced a significant increase in their network growth, indicating a surge in new addresses joining their respective blockchains. This growth suggests that these altcoins are attracting new users.
PEPE Leads the Pack
Among the three, PEPE has seen the most significant adoption, with a network growth of 4,196. This indicates that many new investors are joining the PEPE network.
Bullish Implications
Historically, adoption has been a positive sign for cryptocurrencies, as a larger user base provides a stronger foundation for future price growth. However, in the short term, spikes in network growth can be mixed, sometimes indicating FOMO (fear of missing out).
ENS and FOMO
ENS has seen a 9% price surge over the past week, which could suggest that the adoption spike may be driven by FOMO.
PEPE and FET Potential
In the case of PEPE and FET, whose prices have been declining, the network growth surge could have more bullish implications. It suggests that new investors are entering these markets despite the current price downtrend.
Current Prices
- PEPE: $0.00001043 (down 18% over the past week)
