Santiment Identifies Underrated Altcoin That Can Dominate The Crypto Market

He Processing Token (RNDR) has rapidly gained prominence in the digital asset market, as noted by Holy, one of the leading cryptanalysis companies. Previously relatively unknown, RNDR has quickly climbed to the 45th position in market capitalization within the crypto realm. A recent rise in price, coupled with an increase in on-chain trading and transactions, further solidifies RNDR's position.

Double-digit surge makes a difference to the RNDR

RNDR stands out from the competition with its remarkable double-digit growth over the past 24-hour trading cycle. Among the top 100 cryptocurrencies, RNDR is the only asset that achieved such significant growth, showing its potential and attracting attention.

The RNDR growth trend has established a steady presence within the ongoing May rally. Despite this positive development, Santiment warns of an increase in whale transactions, marking the third highest volume in the last month.

While traditional market trends may suggest a profit-taking phase, RNDR's distinctive behavior indicates the potential for sustained price increases, despite the presence of substantial whale transactions.

Emerging 'shark' and 'whale' directions

The Santiment data adds credibility to the notion that the RNDR rally still has room to grow. The number of addresses holding 1 to 10 million RNDRs has skyrocketed, reaching an all-time high of 90. This significant increase suggests that the rally may still be in progress rather than entering a profit-taking phase.

Also read: Crypto Market Analysis: Top 4 Metaverse Tokens With Bullish Outlook For June And July

Investors, beware the euphoria of the crowd!

Santiment also raises concerns about possible crowd euphoria around RNDR. With RNDR becoming a hot topic in the crypto market, its social dominance in discussions among the top 100 market cap coins has risen to 0.4%. Though seemingly insignificant at first glance, considering its typical 0.1% level, this trend could signal an upcoming crowd-driven price spike.