The crypto economy experienced a relatively solid week overall, though Monday morning brought a modest dip. The total market capitalization currently stands at $2.26 trillion, reflecting a 1.6% decline over the past 24 hours. According to a report from CryptoComLearn (originally by Jamie Redman on Bitcoin.com News), the weekly picture remains positive, with more than two dozen digital assets recording double-digit gains.
MOODENG Leads the Rally with 400% Weekly Jump
The meme coin moo deng (MOODENG) stole the spotlight, surging an astonishing 400% in just seven days. Capitalizing on viral social media momentum and community enthusiasm, the token climbed from low levels to become the top gainer of the week. Hot on its heels was Ethereum PoW (ETHW), the native token of the proof-of-work fork of Ethereum, which rose 82% against the US dollar. Other notable winners include dog go to the moon (DOG), up 59.79%; FTX Token (FTT), up 55.54%; and dogwifhat (WIF), up 43.26%. Artificial intelligence-focused coins also enjoyed a moment in the sun, contributing to the broad-based rally.
Trading Volume: XRP Tops Excluding Major Assets
In terms of trading volume, excluding Bitcoin, Ethereum, and stablecoins, XRP led the rankings. Close behind were SOL, BNB, PEPE, DOGE, SUI, WIF, and SHIB. Solana (SOL) in particular saw sustained volume increases, signaling capital rotation toward layer-1 ecosystems. The volume data underscores the strong retail interest in meme tokens and AI-related projects, which collectively accounted for a disproportionate share of total market activity.
Only Five Tokens Suffer Double-Digit Losses
While the week was largely positive, Monday’s selloff did some damage to certain assets. Hamster kombat (HMSTR) plunged 50.14%, BinaryX (BNX) fell 19.89%, Tron’s SUN token dropped 13.73%, and Monero (XMR) declined 12.86%. Notably, only five cryptocurrencies experienced double-digit losses, suggesting that the decline was narrowly concentrated and that most assets were able to preserve their weekly gains despite the Monday downturn. Profit-taking and quarter-end portfolio rebalancing are likely culprits behind the pullback.
Market Outlook
The Monday dip eroded some of the earlier gains, but the overall weekly narrative remains bullish. With meme coins like MOODENG capturing mainstream attention and ETHW benefiting from the Ethereum PoW narrative, risk appetite seems to persist. However, traders are advised to monitor regulatory developments and macroeconomic indicators that could trigger broader volatility. As always, due diligence and risk management are essential in the current environment.
Source: CryptoComLearn (original reporting by Jamie Redman at Bitcoin.com News). This article is for informational purposes only and does not constitute investment advice.