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Why Investors Were Bailing From Altcoins This Week

Crypto investors no doubt spent much of this week fondly remembering the good old days, i.e., much of 2024, when their holdings rose in price more often than not. According to data compiled by S&P Global Market Intelligence, Chainlink (CRYPTO: LINK), one of the more popular, high-profile utility tokens, lost almost 16% of its value across the week. Uniswap (CRYPTO: UNI) fared little better, booking "only" a 15% decline, while Bitcoin Cash (CRYPTO: BCH) investors could possibly console themselves with a relatively shallow 10% dip.

Why Dogecoin Is Jumping Today

Dogecoin (CRYPTO: DOGE) is seeing significant gains in Friday's trading. The cryptocurrency's token price was up 4.5% over the past 24 hours, as of 4:30 p.m. ET. Meanwhile, the price of Bitcoin was up 2.9%, and the price of Ethereum was up 1.7%.

Why Crypto's Meme Coins Are Crashing

The crypto meme was strong at the end of 2024 with investors bidding up major tokens like Dogecoin (CRYPTO: DOGE), Shiba Inu (CRYPTO: SHIB), and Pepe (CRYPTO: PEPE) along with even wilder tokens like dogwifhat, Fartcoin, and Bonk. According to data provided by S&P Global Market Intelligence, at noon ET on Friday, Dogecoin is down 10.4% in the past week, Shiba Inu has dropped 11.7%, and Pepe is down 19.9% in just the last week.