Main Points:
- Cryptocurrency prices under pressure, meme coins sell-off continues
- Meme coins tracked by CoinGecko with market cap decline
- Bitcoin stuck below $60,000, meme coin values dropping
- Technical indicators suggest further declines
Cryptocurrency Prices Under Pressure
On Monday, cryptocurrency prices remained under pressure with meme coins experiencing a continued sell-off. CoinGecko reported a significant decline in the market cap of meme coins, indicating a downward trend in the market.
Meme Coin Sell-Off Continues
Amidst the cryptocurrency market downturn, meme coins such as Dogwifhat and Brett have seen substantial drops in value. These tokens have retreated by over 50% from their peak, with technical indicators pointing towards further declines in the near future.
Bitcoin’s Influence on Meme Coins
Bitcoin’s inability to surpass $60,000 has had a direct impact on meme coin values, leading to a correlated downtrend. As meme coins like Pepe and Bonk face significant losses, investors are closely monitoring Bitcoin’s movement for potential market shifts.
