---
title: "‘Buy the dip’ calls on social media surface, market sees correction"
url: https://diffcoin.com/buy-the-dip-calls-on-social-media-surface-market-sees-correction/
description: "Total crypto market cap falls while the crypto community calls for \"buy the dip\""
published: 2023-12-11
updated: 2023-12-11
author: "Mila"
site: "Diffcoin"
---

# ‘Buy the dip’ calls on social media surface, market sees correction

As the total crypto market capitalization sees a sharp decline in 24 hours, investors show high levels of interest in “buying the dip.”

According to data provided by CoinGecko, the global crypto market cap declined by 4.4% in the past 24 hours, the fastest drop in over four months. The total digital currency market cap fell from $1.71 trillion to $1.64 trillion as the top assets, Bitcoin (BTC) and Ethereum (ETH), witnessed significant slides.

![‘Buy the dip’ calls on social media surface, market sees correction - 1](https://crypto.news/app/uploads/2023/12/crypto-market-cap-Dec-11-1024x244.png)

Total crypto market cap – Dec. 11 | Source: CoinGecko

Data from CoinGecko shows that decentralized finance (defi) tokens’ market capitalization recorded a slight increase despite the market-wide cooldown — rising from $75.3 billion to $75.6 billion over the past 24 hours.

Moreover, data provided by Santiment shows that the social volume for the terms “buy the dip,” “buy,” “dip,” and “buydip” has seen a significant rise over the past 24 hours, reaching a two-month-high.

Per the market intelligence platform, most of the discussions come from Reddit and X as the market runs into the “extreme greed” zone.

The market-wide decline comes after Bitcoin briefly touched the $44,000 mark and Ethereum reached the $2,400 area.

BTC declined by 4.1% in the past 24 hours and is trading at around $42,150. Bitcoin’s market cap still stands above the $820 billion mark.

Ethereum and many more altcoins witnessed almost identical movements. ETH dropped by 4.9% in the past 24 hours and is trading at $2,230 at the time of writing.

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