Dogecoin

Bonk

Momentum

Coin

<ul class="wp-block-list news-points">
 <li><strong>Altcoins face reduced leverage, signaling cautious market sentiment this week.</strong></li>
 <li><strong>BONK struggles with bearish momentum, testing key support levels for stability.</strong></li>
 <li><strong>WIF and DOGE show consolidation patterns, with critical resistance limiting gains.</strong></li>
</ul>
<p>The crypto market experienced a notable shift this week, with a selloff that triggered a decline in the open interest-to-market cap ratio for many altcoins, according to Kaiko data. This indicates reduced leverage and trading activity in the altcoin market, highlighting a growing sense of caution among investors. Meme tokens, including Bonk (BONK), Dogwifhat (WIF), PEPE, and Dogecoin (DOGE), felt the brunt of the downturn, with substantial declines in their market metrics.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4ca.png" alt="📊" class="wp-smiley" style="height: 1em; max-height: 1em;">Following this week’s selloff, the open interest to market cap ratio dropped for most altcoins, indicating lower leverage.<br><br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f449.png" alt="👉" class="wp-smiley" style="height: 1em; max-height: 1em;">Meme tokens like BONK, WIF, PEPE, and DOGE saw the biggest declines. <a href="https://t.co/2xJMEpFjGI" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/2xJMEpFjGI</a></p>— Kaiko (@KaikoData) <a href="https://twitter.com/KaikoData/status/1867610638119579700?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">December 13, 2024</a>
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<h2 class="wp-block-heading" id="h-bonk-faces-bearish-momentum">BONK Faces Bearish Momentum</h2>
<p>Bonk (BONK) <a href="https://coinedition.com/bonk-surpasses-wif-with-4b-market-cap-to-become-the-largest-meme-coin-on-solana/?utm_source=telegram_channel&amp;utm_medium=referral" rel="noopener noreferrer nofollow">witnessed</a> a 2.81% price drop in the last 24 hours, trading at <a href="https://coinmarketcap.com/currencies/bonk1/" target="_blank" rel="noopener noreferrer nofollow">$0.00003862</a>. The token’s market cap fell by 2.77%, now standing at $2.92 billion, while i…</p>
<p>The post <a href="https://coinedition.com/reduced-leverage-drags-altcoin-trading-meme-tokens-bear-the-brunt/" rel="noopener noreferrer nofollow">Reduced Leverage Drags Altcoin Trading: Meme Tokens Bear the Brunt</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.</p>

Reduced Leverage Drags Altcoin Trading: Meme Tokens Bear the Brunt

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