Spinning animations are a go-to for loading sequences because they visually represent that something is in progress, which helps set the right expectation for users. The circular motion also subtly suggests continuity and endless possibilities—kind of like how the process is still ongoing, not stuck.
Speaking of which, if you're into creating cool, engaging loading animations or icons, Pixcap.com has some rad 3D icons that can add that extra flair to your designs. Worth to try!