5 Worst Performing Cryptos To Avoid Post-Bitcoin Halving

5 Worst Performing Cryptos: Late Friday evening, Bitcoin underwent its fourth halving at block 840,000, reducing the mining reward from 6.25 to 3.125 new bitcoins per block. This process is scheduled approximately every four years to reduce the rate at which new bitcoins are generated, thereby controlling inflation and extending the currency’s longevity.

As per the historical trend, the reduced supply and steady or increasing demand following the Halving event have typically triggered a significant uptrend in both Bitcoin and the broader altcoin market. However, despite the anticipated bullish trend following the halving, some altcoins may underperform, suggesting that investors carefully seek out better investment opportunities.

Also Read: 6 Expert Picked Crypto To Buy On The Cusp Of 2024 Bitcoin Halving

1) Dogwifhat (WIF)
Dogwifhat (WIF) is a memecoin based on the Solana blockchain, known for its engaging community and the vibrant meme of a Shiba Inu wearing a hat. For over a week, the WIF price has been fluctuating sideways between $3.172 and $1.98, indicating neither clear dominance of buyers nor sellers.

The Dogwifhat price currently trades at $2.86, reflecting an intraday loss of 2%. This memecoin holds a market cap of $2.85 Billion and is ranked as the 40th largest cryptocurrency by market cap. As analysis of the daily chart shows, a downsloping trendline has been leading an active correction trend for the past three weeks, and a breakout above it is essential to reclaim the bullish trend.

Also Read: Coinbase To Expand Crypto Futures with New Dogwifhat Offering

2) Bittensor (TAO)
Bittensor (TAO)| Tradingview
Bittensor (TAO) is an innovative decentralized machine learning network designed to decentralize the development and training of AI models. The TAO coin entered the current correction trend in early March as its price reverted from $756.8.

Since then, a descending trendline has been guiding a steady downtrend, which has plunged its value nearly 40% to currently trade at $457. The Bittensor shows its current market cap at $3.05 Billion, while the 24-hour trading value is at $41.3 Million.

If the selling pressure persists, the TAO price may breach the 200-day EMA slope at $400, signaling a major shift in market dynamics favoring sellers.

Also Read: 3 Top Altcoins To Hold After Bitcoin Halving Targeting 100x Profit

3) Ethena (ENA)