The digital asset market continues its downward trajectory this week prompting investors looking for crypto to sell to avoid losses. Most users on social media spaces say offloading assets is just for the short term as the market correction bites harder. The market situation is linked to a decline in institutional buys as Bitcoin price fell below $70,000.
At press time, Bitcoin price trades at $65,432, declining 2% and slightly at a better position than most altcoins. As the wider market capitalization plunges to $2.35 trillion, altcoins and meme coins have seen the highest crypto losses. The double-digit losses in most quarters continue to weaken sentiments. Here are 5 crypto to sell to avoid short-term losses.
Solana (SOL)
Solana is down 4.67% trading at $137 below multiple resistance levels from its Q1 2024 highs. The asset recorded wider weekly losses at 11% while monthly figures dropped to 21%. The market cap of Solana stands at $63.2 billion showing a decline in the once high-flying asset.
Toncoin (TON)
The Toncoin ecosystem recorded huge gains this year, outpacing Bitcoin by some points. However, recent bearish activity has seen its price plunge. TON price stands at $7.26, a 5.5% decline today amid pressure on wider crypto assets. As short-term volume plummets, its weekly and monthly volumes remain in the green zone.
Avalanche (AVAX)
Avalanche is down 9.8% in the last 24 hours trading at $25.93. Despite increasing volumes, AVAX maintains its downward trend. According to data from CoinGecko AVAX volumes are over $545 million. The asset markets had an 18% loss in the previous seven days and a massive 30% decline. This loss was sparked by outflows in recent times taking the asset to the woods.
Dogecoin (DOGE)
Per market analysts, Dogecoin is a crypto to sell recording declining sentiments today. DOGE is down 11% with slow intraday trading. Weekly positions are trading negatively by 15% leading to wider meme coin losses. Meme coins have lost steam alongside wider crypto assets. DOGE exchanges hands at $0.1194.
Shiba Inu (SHIB)
Shiba Inu plummeted 10.44% into double digit saying outflows like other meme coins. Holders continues to sell due to bearish situations with its price at $0.00001764. Long-term figures are also down following negative trading this month making the asset among crypto to sell amid losses.
Also Read: 3 Bullish Meme Coins For Today’s Declining Market
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David is a finance news contributor with 4 years of experience in Blockchain Technology and Cryptocurrencies. He is interested in learning about emerging technologies and has an eye for breaking news. Staying updated with trends, David reported in several niches including regulation, partnerships, crypto assets, stocks, NFTs, etc. Away from the financial markets, David goes cycling and horse riding.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
