The cryptocurrency market presents an unpleasant picture as the weekend approaches.
Many leading cryptocurrencies are losing value amid recent corrections, creating a pessimistic atmosphere across the market. Major coins like Bitcoin (BTC) 
$87,699, Ethereum (ETH) 
$2,027, Solana 
$140(SOL), and XRP have experienced declines, complicating short-term expectations for traders. The total market valuation has dropped by 2%, decreasing to $2.84 trillion. While investors grapple with this sudden downturn following a recent uptrend, the situation is quite different for memecoins, which are witnessing a rise. Coins like Shiba Inu (SHIB), Dogecoin 
$0.00000005085563(DOGE), and Pepe (PEPE) are performing well, indicating a contradictory trend in the market.
Bitcoin and Ethereum Navigate Downward
The flagship of the market, Bitcoin, has lost nearly 2% in value over the last 24 hours, falling to the $87,000 range. Expectations for reaching the $90,000 target appear to be on hold temporarily. This decline in Bitcoin has also dragged down many other altcoins.
Ethereum reflects a similar trend, dropping 3.1% and trading just above the $2,000 mark. Market pressures are hindering Ethereum’s short-term rise, while XRP has experienced a decrease of nearly 4%, retreating to $2.36. Despite a positive outcome in the Ripple 
$2-SEC case for altcoins, the anticipated rebound has not materialized. XRP is still trading 38% below its all-time high of $3.84. 
XRP Price Chart
Solana has decreased by 5%, dropping to the $137 level. Despite the relocation of BlackRock’s BUIDL fund to the Solana network and the integration of SOL coin by Polymarket, the price has not reflected these developments. Similarly, Cardano 
$0.740496(ADA) is trading around $0.70, also down by approximately 5%. Predictions suggesting ADA would reach $10 seem quite distant for now.
Memecoins See an Upsurge
Despite the overall market decline, memecoins have remarkably surged. Notably, Shiba Inu displays an approximate 4% increase, seemingly ready to eliminate one of its zeros in price. Renewed investor interest is fostering optimism for SHIB.
Dogecoin has climbed 2% to reach $0.1945. Recent developments, such as the creation of the “Dogecoin Reserve,” support upward movement in DOGE’s price. The increase in daily trading volume reinforces confidence in upward price predictions. The most notable rise has occurred for PEPE, which has jumped nearly 7% in the past 24 hours. Daily trading volume has surged to $1 billion, marking a 96% increase. While the market experiences this uptick, Ark Invest CEO Cathie Wood believes memecoins will lose value in the coming days. Despite these negative forecasts, coins like PEPE continue to attract investor interest.