Top Crypto Losers Of The Week And Why? | CoinGape (2024)

This week has just started, but it’s different from the previous weeks as a new downturn has begun and crypto losers have emerged in the market. Most cryptos have struggled these past few days, including those that used to dominate the market. Bitcoin has dropped to $63K, whereas Ethereum has accepted the $32K. It is a prominent fall from their values just a few days ago.

It doesn’t end there. The market has witnessed some of the well-performing cryptos falling to the ground as crypto losers, struggling to make a comeback.

Top Crypto Losers Of The Week

As so many cryptocurrencies are suffering, a long list of cryptocurrencies’ poor performance is available, showcasing the cryptocurrencies on the verge of entering a bearish trend. The list of top crypto losers is mentioned below, so let’s look into those and the reason behind their fall.

Also Read: Is Meme Coin Hype Coming To An End?

1. Floki Inu (FLOKI)

Just a few days ago, Floki Inu was among the top-performing cryptos, and now it’s on the list of crypto losers. It has dropped to $0.0001699 after a 37% dip. The market cap has also fluctuated, currently at $1,624,524,250, with a 17% loss from yesterday. It is because of the recent FLOKI token burning process where the team has burnt more than 3.9 Million FLOKI tokens for the utility demand. Despite that, the trading volume has surged almost 4%, pushing the value to $599,321,262.

2. Bitcoin SV (BSV)

It took BSV two years to see a slight hike, pushing the value to $121.17, the highest of two years. But as of now, the price has dropped to $72.9, with a 33% drop. The market cap is also down to $1,441,144,803 after the 11% drop. The price drop started after the UK court ruling, which cleared that Craig Wright is not Satoshi Nakamoto and neither has written the Bitcoin whitepaper. As Bitcoin SV is also known for Bitcoin Satoshi’s Vision and follows the Bitcoin whitepaper closely, this ruling has severely affected the BSV prices.

3. SATS (1000 SATS)

SATS Price is down by 34% as the value is $0.0004497 with a market cap of $899,477,781, which has also dropped by 14%. The downfall of the market has impacted the SATS price. As it has been only a few months since this token launched in the market, any new peaks trigger the ‘sell the news’ factor, and people end up selling their tokens for even smaller profits. However the trading volume has increased to $92,317,741 after an 8% hike.

4. BONK

After setting an all-time–high value of $0.00004704 just 15 days ago, BONK is walking on a price drop journey along with other crypto losers. Its price is currently at $0.00002034 after a price drop of 31% in a week. The same goes for its market cap and trading volume as the market cap is down by 22%, bringing the value to $1,326,907,652, and the trading volume is at $356,520,711 after a 10% drop from yesterday. BONK didn’t serve any unique reasons for its recent hike. The crypto stayed in movement before losing the investor’s interest in tokens, leading to an ongoing price dip.

5. Optimism

Optimism’s price started falling 4-5 days ago, reaching $3.08 after a 30% dip in a week. The dip followed in the case of market cap, as it’s at $3,102,757,738 after a 10.9% drop. The trading volume’s case is different because it has surged by 46%, bringing the value to $448,545,937.

The market is following a downturn today, and because of that, various cryptocurrencies are falling behind. Many have lost their weeks of hikes and getting back to their prices before the hike periods, including optimism.

Conclusion

Just a few minutes is enough to change the price momentum of the crypto market and turn cryptocurrencies from winners to crypto losers. In the last few days, the crypto market has been losing value due to various reasons, including the Fed meeting. An experienced investor will know how to handle even such a downtrend while waiting for this to shift to an uptrend.

Read more about Can ETH Price Cross $8K in 2024.