Altcoins React to Bitcoin's Dip

The recent decline in Bitcoin's price has dragged major altcoins down with it. Ethereum (ETH), Solana (SOL), and Dogecoin (DOGE) are among the top altcoins experiencing significant drops. ETH has fallen by 8.43% over the past week to $2,287, though it gained 2.72% in the last 24 hours. Ethereum’s performance remains closely tied to Bitcoin’s trends, complicating efforts to escape the current downtrend.

Solana (SOL) has dropped by 4.62% to $128.69 in the past week, amid ongoing concerns about network reliability. These issues have spurred increased short-selling, further pressuring the token’s price.

Dogecoin (DOGE) has decreased by 7.29% over the past month to $0.10. Despite some whale accumulation, DOGE lacks recovery signs and remains in a bearish trend. The low trading volumes and absence of significant news suggest DOGE will continue facing downward pressure. Unless Bitcoin rebounds, these altcoins are likely to remain weak.