The Worst Performing Cryptocurrencies Right Now
The cryptocurrency market has seen its fair share of ups and downs, with some coins performing exceptionally well while others struggle to maintain their value. In this article, we will take a look at the cryptocurrencies that have underperformed in recent times, either staying stagnant or experiencing a decline in prices. Let’s dive into the details:
Starknet
Starknet (STRK) is an altcoin that is currently facing a decline in its price. The coin reached a high of $3.15 but has since fallen to a low of $1.68. Although bulls bought on dips, the upward correction was halted at $1.95. At the time of writing, STRK is valued at $1.82. The selling pressure is expected to continue, making STRK the worst performing cryptocurrency among its peers.
- Current price: $1.85
- Market cap: $18,441,677,389
- Trading volume: $711,301,799
- 7-day loss: 21.34%
Mina
Mina (MINA) is another altcoin that has experienced a decline in its price recently. Since December 26, 2023, the coin has faced resistance at $1.50, hindering any significant upward movements. The price has retreated three times from its recent peak and is currently trading between the moving average lines, indicating a potential rangebound trend. MINA is currently valued at $1.29 and may fall further if the bears break below the 50-day SMA.
- Current price: $1.29
- Market capitalization: $1,456,496,778
- Trading volume: $51,077,806
- 7-day loss: 15.23%
Helium
Helium (HNT) has been experiencing a rally in its price, but the bullish momentum seems to have reached a point of exhaustion since December 19, 2023, when it peaked at $10.00. The coin has been oscillating sideways between $5.50 and $10.00, and its performance will depend on whether the current resistance and support levels are broken. At the time of writing, HNT is valued at $9.11.
- Price: $9.09
- Market capitalization: $2,027,552,946
- Trading volume: $19,951,120
- 7-day loss: 14.84%
Dymension
Dymension (DYM) is currently trading sideways in a vertical uptrend that was halted at a high of $8.88. Since February 6, the coin has been forced to trade below the barrier at $9.00. The presence of doji candlesticks has caused the price action to remain stagnant. DYM is currently valued at $7.33.
- Price: $7.07
- Market capitalization: $7,066,377,009
- Trading volume: $83,419,942
- 7-day loss: 14.01%
Arbitrum
Arbitrum (ARB) has been on an uptrend and has fully recovered from its previous downtrend. However, the current upswing ended after reaching a high of $2.40. Since January 11, 2024, the coin has been trading sideways below the $2.20 resistance level. The price has been fluctuating between $1.60 and $2.20, and if it falls below the $1.60 support, the downtrend will continue. ARB is currently ranked as the fifth worst performing cryptocurrency.
- Current price: $1.77
- Market capitalization: $18,237,627,028
- Trading volume: $438,902,187
- 7-day loss: 13.69%
Hot Take: The Importance of Researching Cryptocurrencies Before Investing
As a crypto enthusiast, it is crucial to stay informed about the market and understand the performance of different cryptocurrencies before making any investment decisions. The above list highlights some of the worst performing coins in recent times, but this does not mean they are doomed to fail in the long run.
Remember:
- Cryptocurrency prices are highly volatile and can change rapidly.
- Past performance is not always indicative of future results.
- Each cryptocurrency has its unique characteristics and potential for growth.
Therefore, if you are considering investing in any of these underperforming cryptocurrencies or any other coin for that matter, make sure to conduct thorough research and analysis. Stay updated with the latest news and trends in the crypto market, and seek advice from experienced investors or professionals if needed.
Investing in cryptocurrencies can be highly rewarding, but it also carries risks. By staying informed and making educated decisions, you can increase your chances of success in this exciting and ever-evolving industry.
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