3 Altcoins To Sell Amid Bearish Sentiment

3 Altcoins To Sell Amid Bearish Sentiment

PENGY May 31, 2024, 3:02 am Facebook Twitter


Crypto assets have plunged today amid negative sentiments with possible market sell-offs prompting traders to look for altcoins to sell. The losses can be seen in several altcoins including Ethereum (ETH), BNB, Solana (SOL), Ripple (XRP), and Cardano (ADA). Meme coins are not also exempted from current positions as assets lose part of previously traded inflows.

At press time, the cryptocurrency market cap slipped 0.1% to $2.54 trillion with daily volumes growing above $84 billion marking a 1.8% rise. Despite a fall in altcoins and meme coins, market leader Bitcoin (BTC) maintains its drive in the green zone posting a 1.3% increase with its price trading at $68,477. On the other hand, meme tokens plunged to $65.5 billion, a 5% drop in the market. Here are three altcoins to sell amid a market correction.

Ethereum (ETH)

Ethereum dominated crypto charts this month soaring over 22% with its price fluctuating near the $4,000 resistance level. The price jump of Ethereum was due to the regulatory nod by the Securities and Exchange Commission (SEC) on spot ETH ETFs.

However, divergent views have emerged on the impacts of the ETF with analysts saying low volumes will not impact the asset’s price significantly. Ethereum price is at $3,748, after declining 0.48% today and 0.33% this week. However monthly numbers remain bullish at 24%.

Ripple (XRP)

Ripple has suffered short-term losses in the crypto market this year limiting previous bullish projections for the asset. As its regulatory sage with the SEC drags on, many still wear a bearish outlook on the altcoin’s prospects. Ripple trades at $0.519 falling 0.70% today and 1.68% this month. Although volumes at up 12%, on-chain data reveals the current bearish stance.

Shiba Inu (SHIB)

Shiba Inu like other meme coins recorded losses in the last 24 hours. The dog-themed token is down 7.2% today as its price hovers around $0.00002585. SHIB’s downward performance can be seen in trading volumes but ultimately comes on the back of wider sentiments plunging placing it among altcoins to sell. Meme coins are known to rise with the wider market as investors rally towards assets. 

Also Read: Shiba Inu Holders List Out; Check Out Top Contributors

The post 3 Altcoins To Sell Amid Bearish Sentiment appeared first on CoinGape.

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