- Crypto enthusiast Ran Neuner predicts a brutal dump in the crypto market.
- Neuner believes that this dip might signal the end of the meme coin season.
- The total market capitalization of the crypto space is down by 2.5%.
Prominent crypto advocate Ran Neuner has taken to Twitter to shed light on the current tumultuous state of the cryptocurrency market. As the crypto sphere experiences a harsh downturn, Neuner suggests that this rough patch could serve as a necessary purge, particularly for meme coins that have recently flooded the market.
Neuner’s tweet anticipates the end of the meme coin season, implying that the dip might lead to a considerable reduction in their popularity. He also hints at the influence of the recent market-making shutdowns by Jump and Jane Street in the USA as a substantial factor in this downturn.
Source: CoinGecko
Today, the total market capitalization of the cryptocurrency arena has suffered a significant blow, with a decrease of 2.5%. This slump could be attributed to several factors, one of which may be the massive dumping of tokens from new meme coins in the space.
Simultaneously, Bitcoin, the flagship cryptocurrency, has also experienced a bearish performance, with analysts predicting a potential drop below the $26k mark.
In such challenging times, it is vital to note the resilience of the crypto space. Despite encountering numerous hurdles, it has consistently managed to bounce back, demonstrating its inherent robustness.
However, it’s also essential to practice due diligence and conduct thorough research before investing in any cryptocurrency, particularly during periods of increased volatility. By doing so, one can safeguard against potential losses from unreliable crypto projects and ensure a more secure investment portfolio.
