The post Altcoin Market Struggles to Rise – What’s Happening? appeared on BitcoinEthereumNews.com.

$WIF is down 34%, $OP is down 32%, $PEPE is down 28%, $SOL is down 20% in the last seven days, resulting in a very turbulent period and triggering questions about whether an altcoin season will even happen. As investors navigate this challenging landscape, it’s essential to examine the factors contributing to these declines and to identify any potential opportunities amidst the chaos. Biggest Losers in the Last 7 Days The biggest losers among altcoins over the past week were: • $WIF: With a loss of 34%, it thus becomes a prime example of why we should always be careful with altcoins in general. • $OP: Down by 32%, its continued decline — is the optimistically-themed Optimism in name only now?   • $PEPE: Down 28% for the week, the meme coin that has been taking us all by storm — Pepe ($PEPE) — seems to have suffered a time-out together with all those other manias.   • $RENDER: The render token Render ($RENDER) saw its value go down by 25%. This is another example of how even utility-driven coins can face setbacks.   • $SOL: After rising to great heights, Solana ($SOL) is now 20% less than it was a week ago. Even the top-tier altcoins are struggling. These declines highlight the many problems that exist in the altcoin market — some contribute to it, others reflect wider economic trends. Half a dominion others believe the downturn began in part due to an exodus from stocks on profit-taking hopes. Will Altcoin Season Even Happen? Historically, Q4 — and December in particular — has always been a bountiful harvest time for those in cryptocurrency markets. But this year defies all the rules: altcoin markets seem to have lost momentum as they struggle for a footing. Therefore, when a seasonal rally…

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Filed under: News - @ December 22, 2024 9:22 pm