Crypto market’s weekly winners and losers – RAY, DOGE, IMX, MEW

Raydium, Dogecoin, and Mantra are the biggest winners of the week.
Immutable X, cats in a dogs world, and Helium had the biggest loss of the week.

As a seasoned researcher with years of experience navigating the cryptocurrency market, I must say that this week has been quite a rollercoaster ride. Raydium, Dogecoin, and Mantra have undoubtedly shown their resilience, while Immutable X, cats in a dogs world, and Helium have experienced some turbulence.

Raydium maintains its two-week run of positive progress, topping the crypto weekly leaders board. Conversely, Cats in a Dog’s World and Immutable X have struggled, both slipping into the losing category this week.

Biggest winners

Raydium [RAY]

To start, Raydium’s cryptocurrency, RAY, began the week with a robust rise, experiencing a substantial price jump of approximately 14% to around $3.4. Concluding the week, it registered an overall growth of more than 5%, pushing its value close to $3.6.

Presently, RAY’s price stands at approximately $3.49 following a minor dip of 2.81%. However, the stock is displaying a positive, upward trend as it remains above not only its 50-day moving average ($2.13), but also its 200-day moving average ($1.83). In simpler terms, RAY’s price has been generally rising and is currently higher than both its short-term (50 days) and long-term (200 days) average prices.

Crypto market’s weekly winners and losers – RAY, DOGE, IMX, MEW

Lately, a significant event known as the “golden cross” (when the 50-day moving average surpasses the 200-day moving average) reinforces an optimistic market outlook for RAY. The Moving Average Convergence Divergence (MACD) still signals a strong upward trend, with the MACD line staying above the signal line. Nevertheless, the Relative Strength Index (RSI) at 70.35 indicates that RAY might be in the overbought zone, potentially implying a temporary downturn in the near future.

Based on information from CoinMarketCap, it’s clear that Raydium saw a rise of 11%, making it the leading gainer for the past week.

Dogecoin [DOGE]

Dogecoin finished as the second-highest weekly gainer, with a surge of more than 9%. The price of DOGE started off the week on an upswing, climbing from around $0.144 to over $0.17 within just three days. After that, its growth slowed down somewhat. By the end of the week, it was being traded at approximately $0.16. This strong initial performance enabled Dogecoin to hold onto the second spot among the top weekly gainers.

Over the past day, the trading volume of Dogecoin has fallen approximately 30%, now resting at about $1.5 billion. Additionally, its market capitalization has dipped more than 6%, currently hovering around $22.3 billion.

Mantra [OM]

Among the top performers, OmiseGO (OM) slightly outperformed Maker (MKR), both recording impressive gains. According to CoinMarketCap, OM saw a growth of approximately 7.3%, while MKR posted a gain of 7.1%. The weekly price chart for OM demonstrates a robust start, with an initial surge of around 16%, pushing the price up to roughly $1.47.

By the close of the week, OM saw a drop of around 4%, reducing its value to approximately $1.38. The trading volume and market capitalization of OM have both decreased. Specifically, the volume dropped by nearly 46% to roughly $27 million, while the market cap fell by about 3% to around $1.2 billion.

Top 500 gainers

Out of the top 500 cryptocurrencies, Pups stood out as the most significant growth leader, experiencing a massive surge of approximately 2473%, and currently trading at roughly $16.26. Retardio came in second with a 45% increase to reach $0.16, while PepeCoin completed the top three by growing by 36%, and is now being traded around $2.5.

Biggest losers

Immutable X [IMX]

This week, Immutable X (IMX) experienced a significant drop of approximately 16%, as indicated by data from CoinMarketCap. To start the week, IMX was being traded at around $1.30, but its value decreased to almost $1 by the end of the week.

Crypto market’s weekly winners and losers – RAY, DOGE, IMX, MEW

At present, IMX is valued around $1.122, and it has experienced a 5.35% increase following a string of declines; however, it’s still below both its 50-day moving average ($1.502) and 200-day moving average ($1.640). This places IMX in an extended downtrend, as evidenced by the trend of both moving averages pointing downward. The Relative Strength Index (RSI), at 33.48, suggests that IMX is nearing oversold levels, implying a possible reversal if buying activity resumes.

The rumors about an potential Securities and Exchange Commission (SEC) lawsuit stirred up worry, confusion, and skepticism (FUD), which could have played a role in IMX’s recent financial setbacks.

Cats in dogs world [MEW]

Initially ranked as one of the week’s top performers, MEW has shifted positions and is now the second-biggest loser of the week. The cryptocurrency experienced a dip of almost 14%.

To begin the week priced at approximately $0.010, MEW concluded at $0.008 after experiencing substantial losses, positioning it as the largest loser among the leading 100 memecoins. The trading volume and market capitalization for MEW both dropped by roughly 30% and 5%, respectively. Currently, the trading volume stands at around $102 million, while its market cap hovers around $765 million.

Helium [HNT]

1) Helium experienced a decline of 13.7%, ranking it as the third-largest weekly loss. To start the week, Helium was traded around $6.7, but by Friday, it had fallen below $6.

Presently, Helium Network Token (HNT) is trading below $6 following a decrease of approximately 5% in its market cap over the past day, which now stands at roughly $1 billion. Additionally, there has been a 30% decline in trading volume, leaving it at around $6.5 million.

Top 500 losers

Among the top 500, Nosana (NOS) suffered the most with a 36% decrease, currently valued at around $2.8. Luna by Virtuals (LUNA) came in second, falling nearly 35%, and is now worth about $0.11. Goatseus Maximus (GOAT) also saw a significant drop of approximately 30%, with a trading value of around $0.46.

Conclusion

As a seasoned investor with years of experience navigating the unpredictable waters of the stock market, I always find it beneficial to keep track of the week’s biggest gainers and losers. It’s crucial to remember that the market can change rapidly, and prices can shift like the tides. By staying informed about these fluctuations, I can make more informed decisions and adjust my investment strategy accordingly. This weekly recap serves as a valuable tool in my continuous pursuit of financial success.

Thus, doing your own research (DYOR) before making investment decisions is best.

2024-11-03 22:16