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Cryptocurrency Decline: What Lies Ahead for the Market?

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by Giorgi Kostiuk

2 months ago


Today, the crypto market demonstrates a 3% drop, leading to a decrease in capitalization to $3 trillion. Bitcoin has dropped to $103,000, and analysts warn of possible further declines.

Overview of Current Crypto Market Situation

Bitcoin has fallen by 1.1%, and major altcoins such as Ethereum, Solana, and XRP have also shown declines of up to 3%. Memecoins, like Dogecoin and Litecoin, continue to slide. Currently, the overall market capitalization stands at $3 trillion.

Experts' Predictions on Altcoin Decline

Analyst Crypto Capo warns that altcoins may drop by 50-70%, and Ethereum could potentially decline by 45-55%, reaching a price range of $1000-$1200. He notes key support levels for Bitcoin at $93,000 and $60K-$70K.

We haven't seen anything yet.CITE_W_A

Potential Risks for Memecoins

Analysis shows that memecoins are on the brink of significant breakdowns. For instance, FARTCOIN may drop by 61% to $0.38, and potentially 82% to $0.17. RETARDIO is exhibiting weakness, while PEPE has triggered a bearish Head and Shoulders pattern, suggesting a 70% drop ahead.

The crypto market continues to face pressure, and expectations for declines in altcoins and memecoins are conceptually supported by expert opinions. Currently, there are no strong buy signals, and the market remains clouded with uncertainty.

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Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.