Top Altcoins To Sell Amid Short-Term Market Correction

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Top Altcoins To Sell Amid Short-Term Market Correction – Crypto News

Published

1 year ago

May 9, 2024

Dripp

The cryptocurrency market faces a short-term decline as users look for altcoins to sell amid recent volatility. On-chain data shows a sharp decline in crypto prices in the last 24 hours. This price fall slashed a previous recorded weekly gains as the price of Bitcoin (BTC) slumped below $63,000.

Aside from Bitcoin, top altcoins also posted declining prices in the market with some entering double figures as sentiments plunge. The loss of steam for top altcoins follows a swing in macroeconomic factors with bulls projecting a short-term correction before rebound. Here are three altcoins to sell amid the market correction.

Solana (SOL)

Solana remains among the community favorite altcoins with a price of $143. Solana is down 1.93% in the last 24 hours and 17% this month. However weekly flows for Solana still stands in the green zone. The fall of the asset in the last 48 hours ranks it among altcoins to sell.

Another factor against short-term SOL performance is the decline in trading volumes. Daily trading volumes are down 12.26% indicate weaker on-chain factors. Solana memecoins have also recorded a loss in momentum in the last 24 hours.

Polkadot (DOT)

Polkadot exchanges hands at $6.92, a 2% decline in the last 24 hours as sentiments plunge. DOT joins altcoins that have lost weekly gains as with recent outflows. While the community hopes it can pick up from its recent bottom, some traders have flagged it as an altcoin to sell this week. The asset posted 22% monthly outflows.

Dogecoin (DOGE)

Leading memecoin Dogecoin attracted bullish momentum with some traders tipping a run to $1. However, short term correction threatens the form of the asset as other memecoins lose steam. This week, the daily trading volumes for DOGE has dropped. The total memecoin market cap is down 2.2% to $50.7 billion.

Although these altcoins are in a decline, they have rallied this year with bulls giving projections on positive sentiments.

Also Read: What’s Happening With Cardano Price This Month?