The cryptocurrency market is facing another correction. Despite Bitcoin (BTC) maintaining the $95,000 price level, investor sentiment remains low. The market has faced multiple dips this year. The global crypto market cap has fallen nearly 3% in the last 24 hours to $3.27 trillion. Most major assets are trading in the red zone in the daily charts.

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Why Are Cryptocurrencies Stagnating?

The latest market dip comes after the Bybit hack. The popular crypto exchange was hacked for $1.4 billion worth of Ethereum-related coins. The attack has significantly hurt investor sentiment.

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Other macroeconomic factors may have also played a part in the cryptocurrency market dip. Trade wars between the US and other countries have substantially hit investor optimism. Inflation has also kept investors on the edge of their seats. The low prices could be a good entry point for many investors.

Top 3 Meme Cryptocurrencies Predicted To Hit All-Time Highs In March

1. Dogecoin (DOGE)

DOGE is trading at very low prices right now. The meme cryptocurrency is down by more than 68% from its all-time high of $0.7316. According to CoinCodex, DOGE could rise to a new peak of $1.11 on Mar. 20. The memecoin will rally by nearly 214% if it hits the $1.11 target.

2. Pepe (PEPE)

PEPE is another popular meme cryptocurrency that has faced a significant price correction. PEPE is down by 67.7% from its all-time high of $0.00002803. According to CoinCodex, PEPE could rise to a new peak of $0.00004500 on Mar. 31. The memecoin will rally by about 396.6% if it hits the $0.00004500 price target.

3. Floki (FLOKI)

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FLOKI has struggled to gain momentum in recent times. The meme cryptocurrency is down by 73.6% from its all-time high of $0.0003449. CoinCodex predicts PEPE to hit a new all-time high of $0.000466 on Mar. 31. The dog-themed memecoin will rally by 411.41% if it hits the $0.000466 target.