Helium, Notcoin And Dogwifhat Lead The 3% Crypto Market Correction As The Top 10 Cryptos All Tumble, Analyst Warns Of “Final Scare”
Helium (HNT), Notcoin (NOT) and Dowgwifhat (WIF) are the biggest losers during the recent 3% crypto market correction as the top 10 all tumble and an analyst warns of a “final scare.”
HNT plunged more than 10% to trade at $6.53 as of 7:45 a.m. EST. NOT also suffered a more than 10% drop in price throughout the past trading session, while Solana meme coin WIF shed over 8% of its value during the same period.
All Of The Top 10 Undergo A Pullback In Latest Crypto Market Correction
Market leaders Bitcoin (BTC) and Ethereum (ETH) both suffered 24-hour price drops of more than 3%. BTC remains below the $60K mark at $58,501.13. ETH, on the other hand, maintains a position above the $2.5K support, and trades at $2,627.56.
Top to cryptos by market cap (Source: CoinMarketCap)
Binance Coin (BNB), which is the fourth largest crypto by market cap, remittance token XRP and Ethereum competitor Cardano (ADA) each only suffered a 1% 24-hour loss. While BNB and ADA remain in the green on the weekly time frame, the same cannot be said for XRP . CoinMarketCap data shows XRP plummeted more than 8% in the past 7 days.
Solana (SOL) dropped over 3%. Meanwhile, Dogecoin (DOGE) and Toncoin (TON) fell over 2% and 7%, respectively.
Analyst Warns Of A “Final Scare”
An analyst by the name of Miles Deutscher noted that BTC is following a trend very similar to summer 2023. As such, he anticipates that there will be a “few more weeks of apathy,” followed by “a final scare” before a “massive expansion to the upside.”
Pseudonymous trader Elja shared a short-term outlook in an Aug. 15 X post, and said that BTC is currently breaking down. His post included a picture of a bearish rising wedge pattern that formed on BTC’s 1-hour chart. He subsequently warned that that $56.5K-$57K level failing to hold could lead to the crypto king dumping to $54K.
Related Articles:
- Upcoming Crypto Presales: Unlock Early Investment Opportunities!
- Senate Majority Leader Chuck Schumer Pledges To Establish Pro-Crypto Law By Year End If Kamala Harris Elected
- `Next Cryptocurrency to Explode Thursday, August 15 — Threshold, Euler, Biconomy, Flare
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Former NFL player Russell Okung's new football league wants to pay players in Bitcoin
McDonald’s partners with Doodles for collector cups, online promotion
Trump picks ex-SEC chair Jay Clayton as US Attorney for Manhattan
241115: Dogecoin Surges 48% as Traders Eye $1 Milestone
Dogecoin (DOGE) surged by 48% within 24 hours, continuing a strong, four-day rally that has stirred hopes of a $1 price target. The memecoin, which briefly exceeded 41 cents for the first time since May 2021, has gained over 150% in the last week and nearly tripled over 30 days. Speculation around