Ethereum (ETH) price trades in red below $3,700 at the time of writing on Friday, closing below its key support level the previous week.
Dogecoin (DOGE) leads the retreat of meme coins, trading at $0.2251 on Friday. The decline reflects risk-off sentiment building after cryptocurrency prices generally rallied over the past three weeks, pushing the total market capitalization above the $4 trillion mark.
Cryptocurrencies are facing relatively strong headwinds on Thursday, particularly altcoins led by Ethereum (ETH) and Ripple (XRP). The largest smart contracts token is consolidating at around $3,630, marking a 6% decline from recent highs of $3,858.