The recent downturn in the cryptocurrency market saw a 5.89% drop in the overall market cap as bears pushed prices down, resulting in Bitcoin falling to $66,000 and Ethereum briefly dropping to $3,319.

During this period, the total liquidation in the network reached $157 million, mostly from long orders. Even meme coins, known for their volatile price swings, were not immune. The market cap of meme coins decreased by 10.8%, despite a significant 42% increase in trading volume. Some meme coins experienced double-digit declines.

Cryptocurrency Price Analysis During Market Downturn

Dogecoin (DOGE): DOGE faced a 14% decrease in the last 24 hours, currently trading at $0.1866. Trading volume surged by 66%, hitting a seven-day low of $0.1850. Over the past month, Dogecoin surged by 33%, with analysts suggesting a potential rise to $0.228 in a bullish scenario or a drop to $0.175 in a bearish case.

Pepe: Pepe saw a 14% decline in the last 24 hours, trading at $0.000007217. Trading volume increased by 7%, with analysts projecting a rise to $0.00000923 in a bullish scenario or a drop to $0.00000660 in a bearish scenario.

Dogwifhat: Dogwifhat experienced an 11% decline in the past 24 hours, currently trading at $3.8. It surged by 229% over the past month, with analysts suggesting a potential rise to $4.81 in a bullish scenario or a drop to $3.0 in a bearish scenario.

The market downturn has raised concerns among investors, leading to a close monitoring of the situation for any potential shifts in market sentiment and price movements.

Important: This article provides information and should not be considered legal, tax, investment, financial, or any other type of advice.