Last week, multiple top cryptocurrencies saw a second round of price upswings, continuing the recovery trend from the prior week.
As a result, the global cryptocurrency market capitalization grew by $140 billion, marking a 5.7% increase to $2.57 trillion.
Here are our picks for the top cryptocurrencies to watch this week, following notable movements recorded by these assets:
PEPE hits new ATH for second straight week
Pepe (PEPE) has been on a sustained uptrend since mid-April despite the instability witnessed across the broader market within this timeframe. Market data confirms that the meme coin sensation has recorded four consecutive intraday gains since April 20.
This trend occurred from April 20 to 23; from May 1 to 4; and from May 11 to 14.
Despite failing to engineer a similar streak this week, Pepe soared by 45.86% on May 21 and 22 while the rest of the market faced a pullback. Recall that the frog-themed meme coin hit a new all-time high of $0.00001161 two weeks back.
Pepe secured another all-time high last week when it rallied to $0.00001577 on May 25. This price upswing bucked the overall bearish trend in the market triggered by Bitcoin’s (BTC) retracement from the $71,000 high on May 20.
Pepe has surged 75.88% over the last seven days, making it the biggest gainer among the top 100 assets during this period. The meme coin is now in a price discovery phase, commanding a 24-hour volume of $1.946 billion at press time, the seventh-largest in the crypto market.
Pepe’s Accumulation/Distribution metric confirms that last week’s upsurge was triggered majorly by massive demand. The metric held a value of 615.79 trillion PEPE as of May 19, but spiked to 775.91 trillion tokens by the end of the week. PEPE now changes hands at $0.00001606, looking to secure its claim of this threshold.
NOT collapses by another 10%
Notcoin began the week with a massive 16.1% slump on May 19.
The coin, first introduced in November 2023 as a closed beta within Telegram, was a victim of an intense selloff campaign shortly after its debut.
The token collapsed 55% after launch, as airdrop farmers trooped to cash in. Last week, this selloff campaign persisted.
Still, it gave up the opportunity to recover most of these losses on May 20, when Bitcoin and the rest of the crypto market saw an upsurge.
Notcoin only increased by a meager 2.57% and then continued its downward momentum in the days that followed.
The newcomer shed off another 10.63% from its value last week, closing the week below the $0.005 price territory.
A 10.01% recovery on May 25 was not enough to offset all the losses of last week. At its current value of $0.004964, NOT is down 86.76% from the peak of $0.0370 it clinched on Binance on the day of its debut.
ONDO clinches new ATH
Ondo (ONDO) was one of the best performers of the previous week. Like the broader market, the asset began the week on a bearish note, dropping 3.82% on May 19.
However, it rode on the market rebound effort to recover this loss, closing May 20 with an impressive 8.29% increase.
While the rest of the market retraced the gains that day, Ondo — the native token of the RWA tokenization platform Ondo Finance — saw a mild correction and then resumed its uptrend. It eventually clinched a new all-time high of $1.16 on May 24.
The asset has since surpassed this level, as it joins PEPE in price discovery mode. With a price of $1.28 at reporting time, ONDO is up 40.73% over the past seven days, making it the fifth-largest gainer within this timeframe.
The token has now recovered the 23% loss it suffered in April, up 71.88% this month.
However, Ondo’s position above the $1.28 level remains delicate, especially with a 77.29 RSI suggesting overbought levels.
The asset is due for a correction, but the bulls would need to find support at the 23.6% Fibonacci retracement level ($1.1873) to defend against any steep declines to the lower spectrum of the $1 threshold.
From: crypto.news
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