The Biggest Losers: These cryptos took a hard hit during the recent correction

After a period of impressive price increases, the crypto market is currently in a turbulent phase. Many projects are experiencing significant price drops. For example, well-known names such as XRP, Dogecoin (DOGE) and Chainlink (LINK) posted losses of 5.7%, 4.8% and 8.9% respectively.

Although these declines are significant, they pale in comparison to the losses of some other projects that took the hardest hit last week. Below is an overview of the biggest losers.

Gala (GALA): Correction after impressive advance

Gala (GALA) is the native token of the Gala Games ecosystem, a platform focused on developing blockchain games. The project offers gamers more control over their in-game assets and allows them to generate income through playing.

After a strong rise in November, which saw the coin rise from a bottom of $0.017 to a peak of over $0.060, GALA is now experiencing a major correction. At the time of writing, the price is at $0.040, which represents a drop of no less than 33.33%.

Worldcoin (WLD): From hope to disappointment

Worldcoin (WLD), founded by OpenAI CEO Sam Altman, is on a mission to advance financial inclusion in a future where artificial intelligence (AI) will replace many jobs. The project combines a global decentralized digital identity with a universal basic income.

In November, WLD saw an impressive 135% increase, peaking at over $4. Unfortunately, this enthusiasm was short-lived. The price of Worldcoin is now trading around $2.40, which represents a drop of almost 40%.

Dogwifhat (WIF): The Biggest Loser

Hit hardest this week is Dogwifhat (WIF), a memecoin with a Shiba Inu as a mascot, this time depicted wearing a hat. Like many other memecoins, WIF experienced meteoric growth in November, reaching a peak value of $4.29.

However, the glory turned out to be short-lived. The stock currently stands at $2.29, down over 48%, earning Dogwifhat the dubious title of biggest loser of the week.

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