After three straight days in the green, the crypto market is experiencing a slump. The total market cap is now down by around 1.13% to stand at $851 billion.
Bitcoin (BTC) has struggled to break above the $17,250 level and is now heading lower to $16,900. Similarly, Ethereum (ETH) has fallen and is currently consolidating near $1,275.
Dogecoin (DOGE) is up more than 24% in the past week amid speculation that it could play a part in Musk’s Twitter plans. Rising from $0.08189 seven days ago, the meme coin has outperformed bitcoin with a 40% surge in the past 10 days. However, similar DOGE gains in the past have paved the way for a broader market sell-off.
Other big gainers include EthereumPoW (ETHW), which has increased by more than 20% to $4. The price of GMX (GMX) has increased by more than 14% to $55, while the price of Terra Classic (LUNC) has increased by nearly 10%.