Should You Buy Solana Dip Or PEPE, Dogwifhat Meme Coins?
Release: 2024/06/25 04:28 Reading: 626
Crypto Market Experiences Dip with Bitcoin Plunging Below $60,000
On Monday, the crypto market faced significant selling pressure, with Bitcoin dropping below $60,000, marking a decrease of nearly 5%. This momentum extended to altcoins, with Ethereum losing 5.4% to $3,232, Binance Coin falling 3.3% to $555, and Solana experiencing a more modest decline of 0.1% to $127.
Digital Asset Investment Products Face Outflows
Digital asset investment products have witnessed a second consecutive week of net outflows, reaching $584 million, resulting in a total reduction of $1.2 billion in assets under management. As per the Satoshi Club, Ethereum (ETH) led these outflows, totaling $58 million.
In contrast, Solana (SOL), Litecoin (LTC), and Polygon (MATIC) saw inflows of $2.7 million, $1.3 million, and $1 million, respectively. This trend reflects a mixed investment landscape within the market without a dominant direction.
Dip Opportunities in Solana, PEPE, and Dogwifhat
Amidst the ongoing market correction, here are three cryptocurrencies that present potential dip opportunities for sidelined buyers:
Solana (SOL):
Solana is a high-performance blockchain platform known for its rapid transaction speeds and low costs. Over the past few months, SOL has been trading sideways within a triangle pattern, with a potential upward trend if it breaks beyond the triangle's range.
PEPE Coin (PEPE):
PEPE Coin has entered a correction following a rally in late May, forming a bull flag pattern on its chart. A potential breakout from the upper trendline could signal a continuation of the bullish trend.
Dogwifhat Coin (WIF):
Dogwifhat Coin has been oversold during the recent market downturn, reaching a record 68% loss. However, there has been renewed demand pressure, and a reversal pattern could indicate a potential market recovery.
Key Takeaway
The broader market sentiment remains bearish, but potential investors can consider dip opportunities in Solana, PEPE, and Dogwifhat while remaining aware of the ongoing market correction.
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