Last week, the crypto market saw two meme tokens dominating the winners’ list with impressive gains. Let’s delve deeper into the details! Kicking off the week on a slightly negative note, the altcoin ‘Bonk’ (BONK) soon experienced a significant upward trend. Initially, it started the week with a downturn, trading at approximately $0.000020. However, as the week progressed, it witnessed a substantial surge, reaching a high of $0.00029 during the trading session on April 25. By the end of the week, it settled around $0.00025. According to data from CoinMarketCap, Bonk emerged as the top gainer of the week, with an astounding rise of over 28.4%. At the time of writing, its trading value hovered around $0.000027, and its market capitalization surpassed $1.7 billion, reflecting a more than 10% increase in the last seven days.
Another meme token that experienced significant growth last week was Pepe (PEPE). According to data from 21milyon.com, it secured the second-highest gain with an impressive growth rate of over 26.5%. The price pattern of Pepe resembled that of Bonk. It began the week on a somewhat negative note, trading at approximately $0.0000059, but gradually gained momentum throughout the week, eventually reaching $0.0000070 by the weekend. Further analysis revealed that the price surge led to an 8% increase in its market value, which stood at around $3.2 billion at the time of writing. Pepe continued to trade with additional price hikes, indicating the sustainability of its positive momentum.
Moving on to Hedera (HBAR), it secured the third-highest gain of the week, with data showing an almost 19% increase. Notably, this price increase was accompanied by confusion surrounding its association with Blackrock throughout the week. Analyzing the daily time frame chart, it was observed that HBAR started the week with a 3% increase, trading at approximately $0.089. However, on April 23, the token witnessed a significant surge of over 73%, reaching nearly $0.15, driven by news related to Blackrock tokenization. Nonetheless, its price experienced a rapid decline of over 20% on April 24, dropping to $0.12. By the weekend, it had further fallen to $0.10.
Disclaimer: The information provided in this article should not be considered as investment advice. Investors are advised to exercise caution as cryptocurrencies are highly volatile and carry inherent risks. It is recommended to conduct thorough research before making any investment decisions.