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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.
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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