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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/cryptocurrency-prices-face-major-decline" data-wpel-link="internal" rel="noopener noreferrer nofollow">Cryptocurrency Prices Face Major Decline</a><br></p>
<p style="text-align: justify">The cryptocurrency market has entered a challenging phase characterized by significant price drops. Following the Federal Reserve’s recent <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">interest rate</a> decision, Bitcoin (BTC) saw a decline despite favorable inflation <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data</a>, plummeting from $70,000 to $58,500. Currently holding above $60,000, analysts warn it could potentially drop further to $54,000. Meanwhile, the situation for meme coins such as BONK, PEPE, SHIB, and the widely-discussed altcoin Ethereum is scrutinized.</p>
<h2 id="what-is-happening-with-bonk-coin">What is Happening with BONK Coin?</h2>
<p style="text-align: justify">BONK, a prominent meme coin on the <a href="https://en.bitcoinhaber.net/scammers-target-solana-network-investors" data-wpel-link="internal" rel="noopener noreferrer nofollow">Solana</a> network, initially made waves at the close of 2023. However, recent performance has been disappointing, compounded by an airdrop frenzy linked to SAGA phones. BONK has experienced a 6.32% decline in the past 24 hours, bringing its price to $0.00002274. Over the past week, it saw a 13% increase, yet it has dropped 43% over the last 30 days. The market cap now stands at $1.55 billion, and its 24-hour trading volume has reduced by 36% to $178 million, indicating waning interest.</p>
<h2 id="how-is-pepe-coin-performing">How is PEPE Coin Performing?</h2>
<p style="text-align: justify">PEPE, another significant player in the meme coin arena, surprised the market after DOGE and SHIB. It boosted Ethereum network activity, especially during a quiet market period. Although PEPE saw a rise accompanying the BTC-driven market surge in March and hit new all-time highs, it has since faced steep declines. Currently, PEPE is trading at $0.00001162 after a 6% drop in the last 24 hours, with its market cap falling to $4.890 billion and a trading volume decline of 5%, now below $500 million.</p>
<h2 id="ethereum-s-current-price-dynamics">Ethereum’s Current Price Dynamics</h2>
<p style="text-align: justify">Ethereum, the second-largest cryptocurrency, has been in the spotlight since late May. Despite a minor 0.55% increase in the last 24 hours, its price remains significantly below the $2,900 level seen before May 23. Ethereum’s market cap is at $407 billion, maintaining the crucial $400 billion threshold, and its 24-hour trading volume has risen by 5.39% to $12.6 billion. Priced at 111,800 TRY, there are speculations about potential spot ETF approvals next week that could trigger price movements similar to BTC.</p>
<h2 id="trading-insights-and-market-sentiments">Trading Insights and Market Sentiments</h2>
<p style="text-align: justify">For those navigating the current market, here are some critical inferences:</p>
<ul>
 <li>Monitor Federal Reserve decisions as they significantly impact BTC prices.</li>
 <li>Stay updated on airdrop events that might affect meme coin valuations.</li>
 <li>Watch for ETF approvals, which could drive substantial price changes in major cryptocurrencies.</li>
 <li>Evaluate trading volumes to gauge market interest and potential price movements.</li>
</ul>
<p style="text-align: justify">In conclusion, the cryptocurrency market is facing a turbulent period with notable declines across various coins. Market participants should remain vigilant and informed to navigate these changes effectively.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/cryptocurrency-prices-face-major-decline" data-wpel-link="internal" rel="noopener noreferrer nofollow">Cryptocurrency Prices Face Major Decline</a></h5>

Cryptocurrency Prices Face Major Decline

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