Solana
Solana-based Dogwifhat and Dogecoin Pare gain as Bitcoin struggles to reclaim $64,000
Alex Dovbnya
Meme coins are among the most lagging in the last 24 hours
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Some of the major coins have pared gains, struggling to maintain momentum, according to CoinGecko. data.
As of press time, Dogecoin (DOGE) is the only major cryptocurrency in the red, up more than 1.5% in the past 24 hours.
Shiba Inu (SHIB) is also in the red, losing 3% over the last 24 hours.
Solana-based newcomer Dogwifhat is down more than 3% despite posting a double-digit gain previously.
Bonk, another Solana-based cryptocurrency, is the worst performer among major altcoins, losing more than 8%.
Greed returns to the market
According to the Fear and Greed Index, the market is once again dominated by greed.
Yet this enthusiasm might be premature given that Bitcoin is still struggling to rise above the $64,000 level.
This significant change in sentiment comes after the leading cryptocurrency succumbed to “fear” following a massive drop to the $56,000 level last week.
Great performances
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 almost 3%.
Algorand (ALDO) and NEAR Protocol (NEAR) are also in the green despite being named as unregistered securities in the recent class action lawsuit against Coinbase.
About the Author
Alex Dovbnya
Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience covering everything related to this booming industry, from price analysis to blockchain disruption. Alex has authored over 1,000 articles for U.Today, CryptoComes and other fintech media. He is particularly interested in regulatory trends across the world that are shaping the future of digital assets. He can be contacted at alex.dovbnya@u.today.