After the US Federal Reserve lowered interest rates by 50 basis points on September 18, the crypto market is expecting a rise. However, some popular altcoins have already gone up in value ahead of the rate cuts. Because of this, investors might want to sell these 5 cryptos to avoid losing money. These five cryptocurrency tokens are showing signs to sell after the September 18 Fed Meeting (FOMC). Investors should consider selling these tokens now to prevent potential losses.
Top 5 Cryptos to Sell Now
1. Render
Since September 6, Render’s price surged by nearly 20%, following a broader trend among altcoins in anticipation of the Fed’s interest rate decision on September 18. However, as of September 19, Santiment data shows that daily active addresses for RENDER dropped by 66% after peaking on September 13. This cryptocurrency is likely to face a sell-off after the Fed’s rate cut, especially as the hype surrounding OpenAI’s new model fades.
2. Polygon
Polygon’s recent shift and rebranding from MATIC to POL grabbed a lot of attention, but the excitement appears to be fading. Investors should keep a close watch on POL. Since the rebrand, there has been a significant increase in supply on exchanges, while top holders are selling. This indicates a lack of interest from large investors (whales) and could signal an upcoming price correction for MATIC.
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3. Uniswap
The third altcoin to consider selling after the Fed’s 50 basis point cut is Uniswap. Although there are rumors about a potential fee switch proposal during the v4 upgrade, investors should avoid holding UNI for one main reason – the 100% token unlock. With all tokens now circulating in the market, there will be significant selling pressure, which could negatively affect UNI’s short-term price outlook.
4. Optimism
Optimism was once regarded as one of the top Ethereum Layer 2 scaling solutions, but by 2024, OP has faded from the spotlight. Its network growth has dropped to around 500, down from a peak of 2,500, marking a 5x decline.
The network growth metric tracks new users joining the Optimism blockchain. A rise in this metric signals fresh capital and investor interest in the token at current price levels. However, for OP, the opposite is happening, with declining network growth. This could lead to increased selling pressure for OP in the future.
5. BabyDogeCoin
After its recent listing on Binance, this top meme coin surged 130% and is holding strong. While rallies based on exchange listings are usually short-lived and often reverse, BABYDOGE is showing resilience. However, investors should stay cautious for any signs of weakness. If buying pressure decreases, this crypto could drop by nearly 40%, reaching a key support level at $0.00000000132.4.
These 5 cryptos may experience a sharp reversal due to the sell signals and the Federal Reserve’s interest rate cut on September 18. As a result, investors should consider selling these altcoins to prevent potential losses.
