Crypto assets have recorded inflows in the past three quarters as institutional investors increased their appetite for cryptocurrencies. These inflows have skyrocketed the price of most assets this year to new highs recorded in several months.
While bullish traders project more gains in the market based on upcoming events like the Bitcoin halving, bearish investors signal a price correction as most assets have reached their peak cycles, they claim. Crypto assets are known for their high volatility earning the risky tag from traditional investors.
After weeks of highs, some analysts suggest a price correction is imminent. Here are the top crypto assets to consider selling this month before the market takes a bearish outlook.
Solana
Solana (SOL) is a top crypto asset popularly termed the ETH killer along community lines. The asset trades at $182.7, a 0.4% decline in the last 24 hours. Solana recorded massive gains last year wiping out 2022 losses as the price continued an uphill run. SOL surged over 900% in 2023 and rallied as an institutional investor favorite crypto.
The asset has faced sights of slowed momentum this week falling 2.9% and a reduced monthly gain to 42%. Two major reasons for the fall in Solana price are the approval of Ethereum ETFs in the future and reduced Solana memecoin optimism.
Last year institutional investors pumped funds into Solana but with wealth managers hinting at a possible Ethereum spot ETF approval by the United States Securities and Exchange Commission (SEC) investors can favor Ethereum over the asset.
Dogecoin
Dogecoin (DOGE) is the leading memecoin and a highly volatile crypto asset. The cryptocurrency market has rallied around DOGE as the bull run switched on. However, with signs of corrections, bear traders warn of a price slide with the wider markets DOGE is up 1.5% today but has fallen 18% this week.
These flows have reduced its massive price surge to 18% this month. The memecoin could face outflows due to macroeconomic factors and reduced market sentiments.
Dogwifhat
Solana memecoin is among the crypto assets to enjoy a massive rise in the past months. However, these assets have seen outflows in recent weeks sparked by reduced sentiments and a stall in the memecoin frenzy. The crypto is down 4.1% in the last 24 hours and 9.2% this week.
Read Also: Crypto Stocks Spike as Markets Rally
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