Dogecoin, Solana Stumble as Altcoins Hit by Market Correction
The crypto market experienced a downturn after a brief period of optimism over cooling inflation. Major altcoins, including Dogecoin (DOGE), Solana (SOL), and Cardano (ADA), saw significant declines, with DOGE dropping 5.8% to $0.19 and ADA falling 5.1%. Other altcoins like Tron (TRX) and Avalanche (AVAX) also faced losses. In contrast, Bitcoin (BTC) and Ethereum (ETH) had milder losses of 2% and 1.5%, respectively. Market experts attribute the selloff to profit-taking and macroeconomic factors, such as a stronger US dollar and rising government bond yields. Analysts view the corrections as normal market behavior, with some expressing concerns about Dogecoin's future due to recent controversies. Despite current weaknesses, there is cautious optimism for altcoins if Bitcoin maintains a price above $100,000 and institutional interest continues.
