Crypto Market Overview: Despite the struggle, emerging meme coins have captured the attention of traders across the world

The week has not been favorable for the crypto market as it continues to showcase bearish tendencies. Ever since Biden made a surprising exit from the presidential race

Despite Biden's surprising exit from the presidential race, the financial market has remained uncertain. Even stablest cryptocurrencies, Bitcoin and Ethereum, are gradually losing minor value. However, emerging meme coins have captured the attention of traders.

Here is an overview of the crypto industry with daily market updates.

Bitcoin has stabilized and is currently experiencing a slight decrease in value following a week of continuous increase. The coin has lost 2.28% value in the past 24 hours.

The crypto has fallen from the $66k milestone but is now floating comfortably above the $65k mark. Without any major development, Bitcoin’s price has moved to 66.5k dollars for BTC holders in the past 3 months.

If the coin continues to drop, its average purchase price can reach the 63.6k dollar mark.

After spending the week in a flurry, things have suddenly come to a halt for ZRO. The token has lost 4.25% value in the past 24 hours.

However, analysts have strong expectations from the coin amid market shifts.

The crypto market has yet again surprised everyone with its antics. In the past 24 hours, Hawk Tuah, a popular internet meme, has outperformed every other crypto as a meme token.

In the past day, HAWK has registered a 260.20% surge, while its 7-day growth is at 308.51%. Despite defying market sentiment, it is expected the community-driven platform will lose pace in a few weeks.

Ethereum is following Bitcoin’s footsteps in terms of market performance and ETF updates. The second-largest crypto is also yet to make an odds-defying bullish run after its ETF approval.

On the contrary, ETH has lost 1.22% value in the past 24 hours. The coin is now under the 3,500-dollar mark, which is concerning for traders. However, BTC also showed real progress only months after its ETF approval, eventually leading to Bitcoin hitting its all-time high.

Solana and LayerZero are in the same boat, losing momentum after a bullish week. The coin gained 37.54% in value in the past month and 7.43% in the past week.

Even the release of a SOL-based meme coin was not enough to help Solana outperform overall market sentiment.

Overall, the crypto market seems to be undergoing a small correction before preparing for a big jump. Even the top 10 cryptos, barring a couple of stablecoins, are losing at least 1% in market value. However, this correction phase is expected to be followed by a massive comeback.