These 3 altcoins are the hardest hit


The market capitalization of the crypto market has been falling for days. Bitcoin has hit its lowest level since February 2021, and some altcoins have hit it even harder.

According to CoinGecko, the crypto market has lost over 15 percent of its total market capitalization in the past 24 hours alone. Not only has Bitcoin fallen extremely sharply, Ethereum has also had to bleed and has plunged below the psychologically important mark of $ 3,000. This means that the second largest cryptocurrency by market capitalization is falling 15.35 percent on a daily basis. But not only the two draft horses of the crypto market had to suffer in the last few days, some Altcoins have crashed even harder in the last 24 hours.

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3. SafeMoon (SAFEMOON): -22.06%

SafeMoon has been on everyone’s lips for the past few weeks. Many have touted the Memecoin as the new Dogecoin (DOGE) and especially crypto newbies have joined the hype surrounding the project.

Since SafeMoon hit an all-time high of $ 0.000011 on May 11, the cryptocurrency has been steadily plummeting. At press time, SafeMoon has lost nearly 50 percent of its value since its all-time high and is currently trading at $ 0.000006.

Although the price of the Memecoin has fallen by 22.06 percent within the last 24 hours, SafeMoon still has a considerable market capitalization of 3.5 billion US dollars and thus proves it 47th place on CoinGecko.

2. Shiba Inu (SHIB): -23.93%

Shiba Inu is another Dogecoin-like memecoin that has seen tremendous price gains in recent months. In the last 30 days alone, the SHIB price rose by over 620 percent and only recently did Ethereum co-founder Vitalik Buterin ensure that the hype surrounding the crypto project was fired even further.

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Vitalik Buterin “burned” SHIB worth 6.8 billion US dollars. He has thus destroyed around 90 percent of the tokens that the SHIB developers had previously overwritten. Buterin wants to donate the remaining 10 percent of the cryptocurrency.

While this news drew a lot of attention to Shiba Inu, some SHIB token holders are likely to be unsettled after Vitalik Buterin’s announcement. They fear that the sale of the remaining coins of the Ethereum co-founder could push the SHIB price down. As a result, Memecoin is among the biggest losers today, seeing a 23.93 percent drop on a daily basis.

1. NEXO (NEXO): -26.38%

Nexo is a blockchain company that enables users to obtain loans for their cryptocurrencies. In addition, customers can invest their cryptocurrencies or stablecoins on the Nexo platform in order to receive interest. The NEXO token is at the center of the platform. Every NEXO token holder receives better conditions if he wants to use the various services from Nexo.

The crash in the crypto market in recent days has ensured that many customers have withdrawn their capital from Nexo. This is likely to have resulted in NEXO’s price falling. On a daily basis, NEXO is down 26.38 percent and at press time, a single NEXO token costs $ 2.40.

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