Ana Nicenko, one of the Finbold analysts, shared 3 altcoins that should be avoided during the week of July 24. The cryptos in question suffer from volatile price movements, poor news flow, and poor ratings.
‘Stay away from these 3 altcoin projects during the week of July 24’
First up is Ordinals (ORDI), which runs on Bitcoin and presents information such as text and images as NFTs.
In fact, the trendy Ordinals are on the list because of unstable price movements. ORDI price is currently trading in the $6.70 region, where it has melted 7.5% from last week. It has lost more than 10% in value throughout July. For comparison, even an underlooked altcoin like The Graph (GRT) gained double-digit gains in the same period.
GMX (GMX)
GMX, on the other hand, is recording losses in all observed timeframes, despite development efforts such as a partnership with RedStone.
At the time of writing, it is trading in the $51.81 region, where it has lost around 10% compared to the last 7 and 14 days. Some analysts, such as altcoin Sherpa, have warned that the price is facing a potential 20% drop. cryptocoin.com Some of the analyzes we quoted included the following explanations:
GMX: I think it looks like it will go back to $40 this time around. It was a cryptocurrency favorite a few months ago, but was waiting for it to cool down and enter accumulation mode after a bottom. I expect this to underperform the rest of the market in the medium term.
Pepe (PEPE)
Finally, PEPE has taken a huge hit since its launch and initial popularity. It has raised concerns among investors, especially as a number of new meme tokens have entered the market and stolen the limelight. PEPE is currently melting in all time zones. Its price is trading in the $0.00000150 region, where it has spent a long time.
PEPE, which debuted in April, drew attention with its high earnings in the first weeks. As that hype fades, the price breaches local bottoms one by one. However, let’s also note that the supply of PEPE held by leading addresses has fallen over the past few weeks. On top of that, whale activity also decreased, which is something else about development.
While PEPE’s weekly price action was negative, DOGE reacted differently as its weekly chart was painted green. DOGE was up over 3% at one point yesterday, according to CoinMarketCap. It is currently trading at $0.07133. It could be the latest developments from Elon Musk that put Dogecoin in motion. The Twitter boss released an update for X App this morning.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram And YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your own research and due diligence before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.