3 Altcoins Likely To Dump Ahead Of US CPI Data Release

1) Cardano (ADA)

ADA, the native cryptocurrency of the Cardano ecosystem has been trading sideways for the past two months. Amid the broader market consolidation, the coin price resonated within two converging trend lines revealing the formation of a symmetrical triangle pattern. On June 8th, the ADA price breached the support trendline of the triangle structure, indicating the consolidation assets sellers to recuperate bearish momentum. The post-breakdown fall plunged the asset 5% down to currently trade at $0.42,

2)Dogwifhat (WIF)

Dogwifhat (WIF) is a memecoin based on the Solana blockchain, featuring a Shiba Inu dog wearing a pink hat as its mascot. Despite the broader market consolidation, the WIF price managed to sustain a mid-term uptrend utilizing an ascending support trendline. The dynamic support is leading to a higher low formation in WIF’s daily chart indicating the buyers are actively accumulating this asset at market dips. However, this memecoin witnessed a notable correction in the last two weeks, falling from a high of $4.08 to $2.62 registering a 35.6% drop.The Dogwifhat coin currently holds a market of $2.62 billion, while the 24-hour trading volume jumped 21% to bolster falling prices and hit $460.1 Million.

3)Notcoin (NOT)

Notcoin (NOT) is a cryptocurrency project built on The Open Network (TON) blockchain, initially gaining traction as a viral tap-to-earn game on Telegram. On June 2nd, the price of NOT witnessed an immediate reversal from the $0.029 resistance resulting in a 47% drop to reach $0.015, while the market cap fell to $1.642 Billion.

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