Would there be a big correction happening in the near future, to shake out those weak coins 
What do you mean big correction? Last December BTC were at 20k and now dropped down to 10K. Don't you think this was a big correction aready? I'm sure lots of investors were shaken out already.It doesn't mean the end of drop thou. There is a possibility of decline to 8k USD before it turns into green again, but who knows this?