During the previous week, there was a surge of optimism in the cryptocurrency market, with Bitcoin and Ethereum maintaining stability and resisting the bears. Additionally, meme coins rallied, contributing to the bullish trend and improving the general market sentiment.
Two meme coins with smaller market caps surpassed Bitcoin and Ethereum and showed remarkable growth in the weekly chart. These coins distinguished themselves in the crypto market by demonstrating impressive performance.
Some low-cap coins on the list of weekly gainers have shown substantial growth, with Pepe (PEPE) leading the pack, followed by FLOKI.
Over the last seven days, the Pepe (PEPE) cryptocurrency has experienced an astounding 300% surge. Despite being relatively new, PEPE has enjoyed a remarkable increase in spot trading volume in the last 24 hours, surpassing $2.9 billion and landing in fifth place among USDT, BTC, ETH, and USDC.
Binance, among the biggest cryptocurrency exchanges globally, recently added this new coin on May 5th, and it is anticipated that it will be responsible for the most substantial trading volume going forward.
Within the last 24 hours, Binance has recorded a trading volume of $1.4 billion, positioning it as the third most significant cryptocurrency by trading volume, behind only BTC and ETH. Moreover, OKX has contributed the highest trading volume for this coin in the last 24 hours, amounting to an impressive $650 million.
At present, Pepe is trading at $0.000002778, demonstrating a 17.43% increase in the past 24 hours and a significant 15.45% surge in its marketcap, with a 45.12% decrease in the 24 hours trading volume. The token hit its peak of $0.000004354 after beginning the week at $0.0000004577, displaying a strong and remarkable weekly performance.
Meanwhile, FLOKI is also gaining attention from the community as a second-top weekly performer. Over the past week, FLOKI has experienced an impressive surge of approximately 2%. As of now, FLOKI is trading at $0.00004036; in the last 24 hours, the token has experienced a significant 3.08% increase.
The price increase of FLOKI was initiated by various cryptocurrency exchange platforms announcing their decision to list the coin, including Binance and GEN 3.0 Crypto Exchange ixfi. Bitfinex, a prominent digital asset trading platform, also announced its support for FLOKI.
The cryptocurrency community has responded positively to the news of FLOKI’s addition to multiple trading platforms, and investors are hopeful for potential gains in the near future.
Moreover, some popular coins are experiencing gains in weekly charts, including TRON at 4%, STX at 3%, and Rocket Pool, with an increase of 6%, according to the data from CoinMarketcap.
Bitcoin (BTC) & Ethereum (ETH) Weekly Review
The world’s largest cryptocurrency, Bitcoin, maintained a steady position within its crucial resistance range of $28,178.39 to $29,952.03 over the last week. Meanwhile, the second most valuable cryptocurrency, Ethereum, encountered a comparable scenario, hitting a 15-day high of $2k while trading within its key resistance levels.
On May 4th, Ethereum’s active deposits hit an 8-month high, which Santiment predicts will increase volatility. On May 5th, exchange addresses interacting on the network reached a high point, indicating signs of decoupling and a potential $2,000 price point. ERC20 token transfers also hit a high point, indicating strong activity within the Ethereum ecosystem.
According to the data from CoinMarketCap, Bitcoin is currently trading at $28,771.36, with a 0.32% decrease over the past seven days and a 0.32% in the past 24 hours. While ETH is trading at $1,912.19, experiencing a 0.72% increase in the past 24 hours and 1.22% over the past seven days.
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