Last week, several top cryptocurrencies saw their prices rise for the second time, continuing the recovery trend from the previous week.
As a result, the global cryptocurrency market capitalization increased by $140 billion, up 5.7% to $2.57 trillion.
Here are our picks for the best cryptocurrencies to watch this week, based on notable movements recorded by these assets.
PEPE records a new ATH for the second week in a row.
Pepe (PEPE) has maintained a consistent upward trend since mid-April despite the instability seen across the broader market during this period. The meme coin sensation has posted four consecutive intraday gains since April 20, according to market data.
This trend occurred from April 20th to 23rd. May 1 to 4; And from May 11th to 14th.
Despite failing to extend a similar streak this week, Pepe surged 45.86% on May 21 and 22 while the rest of the market faced declines. Recall that the frog-themed meme coin hit an all-time high of $0.00001161 two weeks ago.
Pepe hit another all-time high last week, rebounding to $0.00001577 on May 25. This price rise reversed the overall bearish trend in the market triggered by Bitcoin (BTC) retracement from its May 20 high of $71,000.
Pepe has surged 75.88% over the past seven days, recording the biggest gain among the top 100 assets over this period. Meme Coin is currently in the price discovery phase and is the 7th largest cryptocurrency market with a 24-hour trading volume of $1.946 billion at press time.
Pepe’s Accumulation/Distribution indicator confirms that last week’s surge was primarily fueled by large-scale demand. The indicator held a value of 615.79 trillion PEPE as of May 19, but surged to 775.91 trillion tokens this weekend. PEPE is now changing hands at $0.00001606, seeking to secure ownership of this threshold.
NOT shrinks by another 10%.
Notcoin started the week on May 19 with a massive 16.1% plunge.
First introduced as a private beta within Telegram in November 2023, the coin fell victim to an intense selling campaign shortly after its debut.
The token plummeted 55% after launch as airdrop farmers flocked to make money. This selling campaign continued last week.
Nonetheless, it gave up the chance to recover most of those losses on May 20, when Bitcoin and the rest of the cryptocurrency market soared.
Notcoin only saw a small increase of 2.57% and continued its downward trend for the next few days.
The new entrant shed a further 10.63% from last week’s value, ending the week below the $0.005 price area.
The 10.01% recovery on May 25 was not enough to offset all of last week’s losses. At its current value of $0.004964, NOT is down 86.76% from its confirmed high of $0.0370 on Binance on its debut day.
ONDO acquires new ATH
ONDO (Ondo) was one of the best performers last week. Like the broader market, the asset started the week on May 19 on a weak note, down 3.82%.
However, the market rebounded to recover from these losses, closing May 20 with an impressive 8.29% gain.
While the rest of the market retraced its gains for the day, Ondo, the native token of RWA tokenization platform Ondo Finance, resumed its upward trend after showing a slight correction. Eventually, on May 24th, it broke its all-time high of $1.16.
The asset subsequently surpassed this level, joining PEPE in price discovery mode. At a price of $1.28 at the time of reporting, ONDO is up 40.73% over the past seven days, making it the fifth-biggest gainer over this period.
The token has now recovered the 23% loss it suffered in April and is up 71.88% this month.
However, Ondo positions above the $1.28 level are still vulnerable, especially with the 77.29 RSI suggesting an overbought level.
The asset is due for a correction, but bulls will need to find support at the 23.6% Fibonacci retracement level ($1.1873) to guard against a sharp decline towards the lower spectrum of the $1 threshold.