The market intelligence platform Santiment reported today in an X post that about two-thirds of the top 100 cryptocurrencies by market cap have retraced over the past week of trading. The post also highlighted that, in only the past few hours, many of these tokens lost a big chunk of their November profits.
😟 Fear sentiment is creeping in after two thirds of the top 100 #altcoins have retraced over the past week. Particularly in the past hours, several have lost a large chunk of their November profits. If #FUD becomes prominent, #buythedip opportunities should be worth exploring. pic.twitter.com/RU44XwJyyj
— Santiment (@santimentfeed) November 27, 2023
In the past 24 hours, the global cryptocurrency market cap decreased by 1.34%, bringing the total down to about $1.42 trillion. On the bright side, Santiment did point out that these price dips could create multiple ideal “buy the dip” opportunities for traders who are looking to make some money.
Some of the top losers with regard to their 24-hour performance include FTX Token (FTT), Blur (BLUR), and Celestia (TIA). These tokens saw their prices decrease by 14.62%, 12.51%, and 9.46%, respectively. As a result, FTT was trading hands at $3.55 at press time, while BLUR was worth $0.5294. Meanwhile, TIA’s trading value dropped to $5.27.
On the other hand, Santiment’s data indicated that there were two tokens that stood out and were able to buck the bearish trend while also experiencing an increase in social volume. Axie Infinity (AXS) experienced a 14.13% price surge throughout the past day, which brought its trading value up to $7.12.
AXS / TetherUS 1D (Source: TradingView)
The token’s 24-hour trading volume also surged by over 500%, which left it standing at $502,442,226. Its latest price rise also succeeded in pushing its weekly performance back into the green zone to +13.48%. Its monthly performance was also up by over 45%.
DOGE / TetherUS 1D (Source: TradingView)
Dogecoin (DOGE) was another token that received the support of traders as its price climbed by 2.76% in the past day. This meant that the meme coin was worth approximately $0.08033 after it was able to set a high price of $0.08131.
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