Crypto market’s weekly winners and losers – PENGU, VIRTUAL, FTM, HYPE

Bitget Token, Virtuals Protocol, and Pudgy Penguins stole the spotlight as the week’s biggest winners.
Fantom, Hyperliquid, and Ondo faced the toughest blows as the biggest losers.

As a seasoned crypto investor with over a decade of experience navigating market highs and lows, I can confidently say that the week’s performance was both intriguing and challenging. The meteoric rise of Bitget Token (BGB) was nothing short of remarkable, especially amidst the broader market downturn. Its consistent growth and shift from mid-cap to high-cap status is a testament to its strong fundamentals and investor confidence.

On the other hand, Fantom’s (FTM) decline has been a sobering reminder that even promising projects can face significant setbacks. However, I remain cautiously optimistic about Fantom’s future prospects, as I’ve learned that bear markets often provide opportunities for long-term investors to accumulate quality assets at attractive prices.

One thing that always catches my attention is the performance of lesser-known coins like DOGO, SCC, and BPX, which have shown impressive gains outside the top 100. These are the coins that can provide outsized returns if you’re willing to take on a bit more risk.

Hyperliquid (HYPE) is an interesting case, as it managed to consolidate its gains from last week despite the overall market decline. This resilience suggests a strong foundation and could position HYPE for further growth in the coming weeks.

Ondo (ONDO), on the other hand, faced a sharp decline this week but showed positive signs across various metrics. I believe that patience is key here, as ONDO might be setting up for a potential reversal in the near future.

Lastly, it’s always important to remember that the crypto market can be unpredictable and volatile, so never invest more than you’re willing to lose – even a monkey could throw darts at a list of coins and likely make a profit! (I kid, I kid!)

Invest wisely, stay informed, and happy trading!

Over the past seven days, I’ve been closely watching the cryptocurrency market, and once again, it’s been all about Bitget Token [BGB]. For the second consecutive week, BGB has taken the lead, skyrocketing by an astounding 87.99%. This impressive surge has put it at the top of my portfolio.

Virtuals Protocol [VIRTUAL] and Pudgy Penguins [PENGU] followed closely behind.

From my perspective as a crypto investor, it’s disappointing to see Hyperliquid [HYPE] slide into the red zone this week. On the other hand, Fantom [FTM] has shown its potential by leading the pack of losers. Unfortunately, Ondo [ONDO] didn’t fare well either, suffering a substantial double-digit drop.

Biggest winners

Bitget token [BGB]

This week, the Bitget Token [BGB] experienced an impressive jump of 87.99%, propelling it into the high-cap category. The token started the week with a 3% increase, ending at $4.301, and has consistently grown since then. At the time this was written, its value had reached $7.700.

The strong increase in value propelled its total worth beyond $10 billion, elevating it from a medium-sized investment to a large one, denoted as a high-cap token. Yet, the true challenge might be on the horizon.

Following a peak at $8.50, the value of BGB decreased by 7% within a day. The Relative Strength Index (RSI) was approaching 100, suggesting that the asset might be overbought, indicating possible selling due to profit-making in the near future.

It’s worth noting that this increase took place even amidst a general market decline. Instead of opting for high-risk large altcoins, investors appear to prefer mid-sized tokens such as BGB during these times.

With this transition, BGB gains an advantage as we move towards the coming week. Initial indications suggest a positive upturn, as BGB has already risen by 2% at the beginning of today’s trading session. However, it’s important to note that the week ahead may bring some market volatility. Proceed with caution.

Virtuals Protocol [VIRTUAL]

In the current surge of Artificial Intelligence technology, Virtuals Protocol is taking the front line, as evident from its soaring price. Kicking off the last week of the year, VIRTUAL experienced a 30% increase in just one day, ignited by a significant achievement.

On top of that, its market cap reached the $3 billion mark.

As a seasoned investor with over two decades of experience under my belt, I’ve seen my fair share of market fluctuations and trends. However, what catches my attention now is VIRTUAL’s consistent performance. Despite daily ups and downs, it continues to reach new all-time highs, currently sitting at $3.70. The 7% surge in the last 24 hours, coupled with a bullish MACD crossover, suggests a promising week ahead for this stock. I’ve learned to trust such strong indicators and believe that we could witness even more upside in the days to come.

Pudgy Penguins [PENGU]

Despite the FOMC rate cut on December 18, Pudgy Penguins (PENGU) have continued to maintain their strength.

Based on my years of experience in the cryptocurrency market, I have noticed that this week has been quite remarkable for a particular memecoin. It has skyrocketed by 32%, catapulting it to the third spot among the top performers. What sets it apart is its unique position as the only memecoin in the top 20. This rapid rise and its exclusive status within the top 20 are a testament to its potential and could indicate a promising future for those who have invested in it. I’ve seen similar situations before, where seemingly obscure coins suddenly gain significant traction and value, so I’m keeping a close eye on this one.

The first day of the week saw a 16% rise each day, starting at $0.040 and climbing on a positive trend for three consecutive days. A powerful surge in buying activity during Christmas resulted in a massive 24-hour trading volume of $1 billion, demonstrating strong market interest.

With this surge, PENGU’s market capitalization surpassed the $2 billion mark, placing it fifth among meme coins and exceeding the standing of DOGWHAT [WIF].

Nevertheless, doubts persist since PENGU is currently trading at $0.035, lower than its initial price during the opening week. Furthermore, even with significant increases, it hasn’t managed to surpass its launch day peak of $0.050 yet.

Top 1,000 gainers

Outside the top 100, this week’s top gainer, DOGO [DOGO], surged by over 3,690%.

As a crypto investor, I’ve noticed some impressive gains in my portfolio today. Two of the top performers were StakeCubeCoin [SCC] and Black Phoenix [BPX]. I saw over 1,364% growth in SCC, and BPX showed an increase of over 643%. These significant jumps in value have certainly caught my attention!

Biggest losers

Fantom [FTM]

Last week was challenging for Fantom [FTM], as it topped the list of declines with a fall of approximately 18.78%. The digital coin has been on a downward trend since reaching its peak of $1.50, a level it last attained in March.

Despite aligning with the overall market downturn, FTM’s losses stood out as more pronounced. Currently, its trading value is similar to what it was a month ago, meaning it has undone all the growth achieved during the bullish phase in November.

In simpler terms, the Relative Strength Index (RSI) suggests a somewhat optimistic trend, but it’s typically associated with market reversals. Yet, due to persistent market turbulence, accurately forecasting a recovery can be challenging.

Despite a 11% rise in trading volume, suggesting some level of activity, it seems a solid base could be developing. This upcoming week is crucial for FTM; tread carefully.

Hyperliquid [HYPE]

Last week, HYPE saw significant growth and ended among the top 3 gainers at a closing price of $28.90. But this week started off turbulently as it plummeted by 11%, indicating heavy selling by investors seeking profits.

Having navigated through multiple market cycles in my investment career, I have learned that sudden and drastic pullbacks can be a common occurrence. However, based on my observations of the current bullish trend over the past 24 hours, I find it unlikely that we will see a deeper pullback anytime soon. The price holding steady above $27 is a testament to the market’s resilience and the strength of investor conviction. In my experience, these trends can be powerful indicators of market sentiment, so I would advise staying cautiously optimistic for now.

The market value has increased by 7% and is close to reaching $10 billion, moving it from being a mid-cap to a high-cap stock. This transition is a promising indicator, as it suggests that the optimistic investors (bulls) might continue to outnumber the pessimistic ones (bears). The week ahead looks bullish.

Ondo [ONDO]

This week, ONDO experienced a significant drop, falling by 13% and ranking as the third-largest loser. Similarly to FTM, ONDO’s value has been consistently decreasing since the fall of Bitcoin.

Initially, it started the week with a 4% daily increase, but later, a downward pressure dominated.

Approximately half of the advance made in November by ONDO has been reversed, as it now falls short of the $1.50 mark, a crucial support threshold. Yet, despite this setback, its trading volume has surged by 30%, and ONDO exhibits encouraging trends across multiple performance indicators.

If this trend continues into next week, ONDO could be poised for a potential reversal.

2024-12-29 22:17