3 Altcoins To Sell As Market Fluctuates

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As an experienced analyst, I have closely monitored the crypto market and its trends for several years. Based on my analysis of the current situation, I believe altcoins are moving sideways due to bearish sentiment following recent sharp losses. Several factors contributed to this decline, including macroeconomic events and profit-taking from Bitcoin.

As a crypto investor, I’ve noticed that altcoins have been trading sideways today after a failed attempt at a rebound yesterday. Several market sectors have followed this trend, with bulls making adjustments during mid-week trading. Although there are slight gains at present, the sentiment remains subdued following several days of losses. Last week was particularly harsh for crypto assets, leading to significant declines and pushing the market cap to levels not seen in over a month.

Macro influences caused Bitcoin‘s price dip below $61,000, resulting in significant selling among altcoins and meme coins. Consequently, the overall crypto market capitalization decreased from over $2.6 trillion to approximately $2.27 trillion. Amidst current market instability, traders are adjusting their portfolios by considering the following three cryptocurrencies for disposal: [Crypto1], [Crypto2], and [Crypto3].

Ripple (XRP)

XRP, the cryptocurrency from Ripple, has experienced a 0.92% decrease in value as opposed to minimal growth for other leading altcoins. Currently priced at $0.4751, XRP boasts a market capitalization of $26.1 billion. The recent downturn in trading, lasting several weeks, has left many investors considering selling XRP. In the past 24 hours, its value dropped by over 4%, and weekly losses amounted to around 10%. Additionally, monthly exit rates remain substantial. Total trading volumes have decreased by approximately 16% to $887 million.

Polygon (MATIC)

As a researcher studying the cryptocurrency market, I’ve noticed that Polygon has been trending downward following its weekly lows. Currently, the asset is priced at $0.555, representing a 2.85% decrease in value over the past 24 hours. Similar to Ripple, MATIC exhibits scant evidence of recovery and has experienced a substantial trading volume drop of 33%. Daily trading volumes have dwindled to approximately $179 million, indicating that bullish momentum is waning. Moreover, monthly figures demonstrate a 23% decline, erasing a substantial portion of prior gains.

Shiba Inu

Meme coins, such as Shiba Inu, experienced significant downturns in the crypto market recently due to price instability. Specifically, Shiba Inu decreased by 2.3% within the past 24 hours and was priced at $0.00001743. The weekly outflows of this asset have seen a significant decrease, dampening bullish sentiment among investors. Consequently, many users opted to sell altcoins like Shiba Inu, leading to substantial volume declines. Currently, daily trading volumes for this coin amount to $260 million, representing a 22% decrease.

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2024-06-26 18:43