Analysis Company CEO Gives Five Altcoin Names: "They Are Experiencing Dead Cat Bounce"

According to Joao Wedson, CEO of the cryptocurrency analysis company Alphractal, some altcoins in the market experienced a decline following sudden increases in open positions.

According to the CEO, Cardano (ADA), Litecoin (LTC), Sui (SUI) and TRUMP altcoins had the highest Liquidation/Open Position ratio in the last 24 hours, meaning that a large amount of open positions were liquidated in these altcoins.

The analyst stated that this situation means a ‘dead cat bounce’ for the mentioned altcoins. A dead cat bounce refers to an unexpected price bounce that occurs after a long and slow decline, and usually just before another price drop.

On the other hand, Alphractal, which evaluates the rest of the cryptocurrency market, stated that some altcoins in certain categories are more resilient than others in the crypto market. It pointed out that memecoins and artificial intelligence projects have experienced sharp declines in recent days, while altcoin categories such as layer-1 and payments have shown resistance. Analysts shared that with the momentum gained by a specific category, altcoins of the same type tend to rise together.