Markets
5 Cryptocurrencies to Sell to Avoid Bear Market Losses
The digital asset market continues its downward trajectory this week, prompting investors looking for crypto to sell to avoid losses. Most social media users claim that asset offloading is only for the short term, as the market correction is harsher. The market situation is linked to a decline in institutional buying, as the price of Bitcoin fell below $70,000.
At the time of going to press, Bitcoin Price is trading at $65,018, an increase of 0.2% and a slightly better position than most altcoins. As the broader market cap plunges to $2.36 trillion, altcoins and meme coins saw the highest crypto losses. Double-digit losses recorded in most quarters continue to weaken sentiment. Here are 5 cryptos to sell to avoid short-term losses.
Solana (SOL)
Solana is down 4.67% at $137 below several resistance levels from its Q1 2024 highs. The asset posted deeper weekly losses at 11%, while monthly numbers fell at 21%. Solana’s market cap stands at $63.2 billion, indicating a decline in this once high-flying asset.
Toncoin (TON)
THE Toncoin The ecosystem has seen huge gains this year, surpassing Bitcoin by a few points. However, recent bearish activity has seen its price fall. TON price stands at $7.26, down 5.5% today amid pressure on broader crypto assets. While the short-term volume is falling, its weekly and monthly volumes remain in the green zone.
Avalanche (AVAX)
Avalanche is down 9.8% over the past 24 hours to $25.93. Despite increasing volumes, AVAX maintains its downward trend. According to data from CoinGecko AVAX volumes exceed $545 million. Asset markets recorded an 18% loss over the previous seven days and a massive 30% decline. This loss was triggered by capital outflows in recent times, taking the asset into the woods.
Dogecoin (DOGE)
According to market analysts, Dogecoin is a sell crypto, recording declining sentiments today. DOGE is down 11% with slow intraday trading. Weekly positions trade negatively by 15%, resulting in larger coin losses. Meme coins have lost steam alongside broader crypto assets. DOGE is trading at $0.1194.
Shiba Inu (SHIB)
Shiba Inu fell 10.44% in double-digit outflows, like other meme coins. Holders continue to sell due to bearish situations with the price at $0.00001764. Long-term numbers are also down following this month’s negative trading, which led to the asset being sold off among cryptocurrencies amid losses.
Read also: 3 Bullish Coins for Today’s Declining Market
David is a financial news contributor with 4 years of experience in Blockchain technology and cryptocurrencies. He is interested in emerging technologies and has an eye for the latest news. Staying on top of trends, David has worked across several niches including regulation, partnerships, crypto assets, stocks, NFTs, and more. Far from the financial markets, David goes cycling and horse riding.