Waves (WAVES) and Zilliqa (ZIL) are leading the cryptocurrency market while most of the top altcoins are greatly underperforming
The price of the cryptocurrency meme Shiba Inu (SHIB) has plunged more than 9% in the past 24 hours, according to data provided by CoinMarketCap.
The second-largest canine cryptocurrency is underperforming the broader cryptocurrency market.
As reported by U.Today, the Shiba Inu team recently announced details of their highly anticipated metaverse project, but that did little to stave off a price correction. The proposed virtual land sale has also drawn criticism, with Dogecoin co-founder Billy Markus saying it could just be a cash grab for developers that doesn’t add any additional value to the game. project itself.
Dogecoin (DOGE) has also plunged more than 7% over the past 24 hours, erasing almost all of its gains over the past 24 hours.
Bitcoin (BTC), the world’s largest cryptocurrency, plunged more than 5%, slipping below $45,000 and dragging the rest of the cryptocurrency market down.
Ethereum has performed slightly better, shedding 4% over the last 24 hours. In the meantime, archrival Solana (SOL) is only down a mere 1%, becoming the top performer among the leading altcoins.
Other “Ethereum killers” are trading in line with the rest of the market: Cardano (ADA) and Polkadot (DOT) fell more than 7%.
The cryptocurrency market is struggling to recover after the European Parliament voted in favor of prohibiting anonymous crypto transactions.
Top performers
Waves (WAVES) is the only cryptocurrency in the top 30 that is currently in the green, adding 8% in the past 24 hours. It soared over 75% in just one week.
Zilliaqa (ZIL), which made headlines over the past week with its eye-popping rally, also continues to trade in the green.
