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XRP, ADA, SHIB, DOGE Plunge as Momentum Fades

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Alex Dovbnya

The cryptocurrency market is underperforming, with Bitcoin slipping below the $23,000 level

Cryptocurrencies prices slumped lower on Friday, with the Bitcoin (BTC) price slipping to an intraday low of $22,788 on the Bitstamp exchange.

Dogecoin (DOGE) is the top laggard within the top ten, losing roughly 9% of its value over the past 24 hours.

Shiba Inu (SHIB), another popular canine coin, has slipped by more than 10% over the same period of time.

Image by coinmarketcap.com

The underperformance of DOGE and SHIB shows that calls for another meme coin season were premature.

Ethereum (ETH) is holding above the $1,800 level, but the flagship altcoin has lost its momentum ahead of the merge upgrade.

The total cryptocurrency market cap is now on the verge of slipping below the $1 trillion mark once again. 

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