The memecoin market's downturn seems like a typical adjustment seen before Bitcoin halvings, yet more downside is possible.
Memecoins like Dogecoin (DOGE), Dogwifhat (WIF), and Pepe (PEPE) are among the worst-performing cryptocurrencies today, highlighting a noticeable waning of the earlier enthusiasm that propelled the sector.
Prima facie, the decline across the top joke cryptocurrencies is part of a pre-halving dump across the crypto market.
Top digital assets, including Bitcoin (BTC) and Ether (ETH), have recently pulled back from their yearly highs as traders secure profits ahead of the Bitcoin Halving 2024, prompting similar strategies in the memecoin sector.
