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Two well-known cryptocurrencies, Dogecoin (DOGE) and Solana (SOL), have recently dropped significantly from their record highs.

 

Dogecoin’s (DOGE) decline 

Dogecoin, which gained significant attention due to its meme-inspired origins and celebrity endorsements from individuals such as Elon Musk, has recently declined its price sharply. 

After reaching its all-time high of $0.731578, Dogecoin witnessed a significant correction, leading to a decline of over 90%. This Dogecoin decline can be attributed to various factors, including the recent SEC-Binance and Coinbase lawsuit, market volatility, and shifting investor sentiment. 

In the last month, Dogecoin has lost 15.4% of its value. This bearish trend is predicted to continue as Dogecoin currently has a value of $0.0626 with a market cap of $8.7B, a rise of 1.62% in the last 24 hours. 

Solana (SOL) faces a setback 

Another cryptocurrency that has faced a substantial decline is Solana. Known for its high-speed blockchain and promising technological advancements, Solana experienced a significant correction after reaching its peak of $259.96. 

The Solana decline of over 90% can be attributed to factors, including market-wide corrections, increased selling pressure, and concerns over scalability and network congestion. 

With a market cap of $6.3B and current cost of $15.82, Solana has increased by 7.36% just in the last day. Despite the setback, Solana’s underlying technology and development ecosystem remain robust, leaving room for future growth.


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