Unraveling the Crypto Chaos: Winners, Losers, and the Absurdity of It All!

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  • Ah, the weekly movers! AB [AB], SPX6900 [SPX], and Sky [SKY] soared like desperate souls seeking redemption.
  • And yet, the fallen: DeXe [DEXE], Jupiter [JUP], and Bittensor [TAO]—a tragic tale of decline.

In a week where the crypto realm danced with the specters of politics, the likes of Donald Trump and Elon Musk took center stage, engaging in a high-stakes game of power. Yet, the crypto market, indifferent as a stoic philosopher, merely shrugged. Bitcoin [BTC] slipped, Ethereum [ETH] faltered, and traders, those cautious souls, held their breath.

Utility tokens, however, basked in the limelight, reveling in double-digit gains, while the A.I.-based tokens, poor wretches, found themselves among the week’s lamentable losers.

Weekly winners

AB [AB] – A utility token’s triumphant return, reaching a one-month zenith

AB [AB] emerged as the phoenix of the week, soaring with a remarkable 25.63% rally, closing at $0.0108. Curiously, a single session on the 7th of June accounted for more than half of this ascent, as AB surged 22% in a day—an event that could make even the most stoic observer raise an eyebrow.

Such sharp spikes often herald overextension, a siren’s call for shorts lurking in the shadows, eager for a pullback. Yet, conviction, dear reader, is a fickle mistress.

Despite this rapid ascent, the RSI remains comfortably below overbought levels, and trading volume surged over 77%. A combination that shouts, “Momentum is still alive!”

As AMBCrypto suggests, we find ourselves in prime short squeeze territory, should the sell-side liquidity be absorbed. Keep your gaze fixed on the on-chain volume; if the bid wall crumbles, the shorts shall take the wheel. But if conviction holds, a retest of $0.011 may be the next logical step.

SPX6900 [SPX] – A memecoin’s fervent ascent amidst the chaos

SPX6900 [SPX] stands as the second contender, with a sharp 22.97% weekly surge, the only top gainer to extend its rally from the previous week—a true anomaly in this chaotic landscape.

The week commenced with a 10% leap, closing at $1.13, only to be met with the looming shadow of bearish pressure as the memecoin flirted with its late January high.

On the 5th of June, a 5.35% decline brought SPX down to $1.07, offering shorts a tempting entry point. Yet, the bulls, undeterred, pushed back, closing the week at $1.18. The structure remains bullish, though short-term volatility may rear its head near overhead supply. Unless capitulation strikes, FOMO is fueling a run toward the $1.20 breakout level.

Sky [SKY] – A governance token besieged by bearish forces

Sky [SKY] claimed the third position among the weekly gainers, closing with an 11.89% increase from its $0.06 opening. The week began with SKY extending its previous rally, establishing a support base at $0.064, only to be met with the harsh reality of market forces.

Two days of sharp gains propelled the token to $0.10, its highest since December, yet the bulls faltered, retreating to $0.07 as weaker hands fled. The question now looms: can the bulls defend this level?

The coming sessions are pivotal. If $0.07 holds as support, it may serve as a launchpad for a fresh breakout, potentially sending SKY beyond the elusive $0.10 resistance.

Other notable winners

Beyond the major players, altcoin rockets captured the spotlight this week, with KLED AI [KLED] leading the charge with a staggering 536% surge, followed by BUILD On BNB [BOB] with a massive 413% jump, and GIZA [GIZA] rallying 235%—a veritable circus of gains!

Weekly losers

DeXe [DEXE] – A governance protocol’s descent to a six-month nadir

DeXe [DEXE] leads the unfortunate pack of losers with a sharp 24.52% drop from its $14.22 opening. The week commenced with a brutal 31.95% single-day plunge, marking the largest red candle in DEXE’s history, sending it to a six-month low of $8.20.

What makes this reversal particularly poignant is its timing: DEXE had just staged a strong recovery, attempting to break free from its $12–$14 consolidation range. Alas, the sudden collapse triggered heavy long liquidations, snapping the bullish structure and pushing RSI to a two-month low.

Yet, DEXE has shown signs of resilience, recovering 2.6% to reach $10.66 at press time. This move could be a classic reset, shaking out the weak hands and setting the stage for a potential short squeeze.

All eyes now turn to the $14 resistance. A clear breakout could confirm the reversal and bolster bullish momentum, but failure to reclaim this level keeps risk high, highlighting the fragility of this rebound.

Jupiter [JUP] – A DeFi token adrift, finding no solace

Jupiter [JUP] slipped 13.81% to close at $0.44, marking the second-largest weekly loss. The week began with a modest 1.48% gain, extending a slow rebound from last week’s drop to $0.50, yet this early strength quickly dissipated.

Since May, JUP’s chart has shown repeated failures at rally attempts, with no clear or sustainable support level emerging. Each bounce met with selling pressure, a testament to the lack of conviction among buyers.

The absence of a well-defined support base leaves JUP vulnerable to further decline. Unless the bulls can decisively alter the trend, the token risks slipping toward the next key level near $0.40.

Bittensor [TAO] – An AI token succumbing to the weight of bearish pressure

Bittensor [TAO] claimed the third spot among the biggest losers with a 10.97% drop, closing the week at $370. Since peaking near $500 in May, TAO has retraced to mid-February levels, posting three consecutive lower lows and confirming sustained bearish pressure.

Weak support has allowed opportunistic shorts to maintain their bets, while deleveraging futures traders pushed TAO’s Open Interest down by 9% at press time. Liquidity remains fragile for this AI token, and though TAO bounced off early May support, short-term holders sitting on sizable gains keep the sell-side pressure alive.

TAO ended the week with a 5% rebound, but maintaining momentum will be a Herculean task without significant smart money accumulation. If selling persists, a retrace toward $330 seems inevitable.

Other notable losers

In the broader market, downside volatility struck with a vengeance. MinoTari [XTM] took the biggest hit with a sharp 39.2% drop, followed by Collateralize [COLLAT] down 28.9%, and WalletConnectToken [WCT] slipping 28.4% as momentum cooled—oh, the irony!

Conclusion

Once again, the crypto realm has unleashed chaos—big gains, crushing losses, and relentless swings that keep traders in a state of perpetual uncertainty. Remember, dear reader: DYOR before diving in. Stay sharp, trade smart, and ride the waves with a wry smile! 😏

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2025-06-08 22:28