Alex Dovnya
Meme coins are among the biggest laggards in the past 24 hours
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According to CoinGecko, some of the leading meme coins are seeing declining profits and struggling to maintain momentum. data.
At the time of this writing, Dogecoin (DOGE) is the only major cryptocurrency in the red, gaining more than 1.5% in the past 24 hours.
Shiba Inu (SHIB) is also in the red, down 3% in the past 24 hours.
Solana-based startup Dogwifat is down more than 3% despite previously posting double-digit profits.
Bonk, another Solana-based cryptocurrency, performed the worst among the major altcoins, dropping more than 8%.
Greed returns to the market
According to the “Fear and Greed” index, the market is once again dominated by greed.
However, this excitement may be premature given that Bitcoin is still struggling to break above the $64,000 level.
The major shift in sentiment comes after major cryptocurrencies succumbed to “fear” following a sharp drop to the $56,000 level last week.
top performer
While Bitcoin is in consolidation mode, other major cryptocurrencies are also struggling to post significant gains.
However, there are still some outliers. Monero (XM) and Avalanche (AVAX) are both up nearly 3%.
Algorand (ALDO) and NEAR Protocol (NEAR) have also gained attention despite being named as unregistered securities in a recent class action lawsuit against Coinbase.
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Alex Dovnya
