Last Week's Standouts: 5 Cryptocurrencies with Explosive Performances

In a wild week where Bitcoin reached new highs, alternative cryptos also shined. The memecoins Shiba Inu, Pepe, and Floki, as well as AI-related and gaming projects like Fetch.AI and Gala, have recorded stunning performances. Decrypting a crypto market in turbulence.

The madness of memecoins knows no bounds

While altcoins anxiously await their moment of glory, the infamous “altcoin season,” memecoins seem to have taken the lead. Indeed, this week has been marked by exceptional performances for these eccentric cryptocurrencies.

First, Shiba Inu (SHIB), launched as a parody of Dogecoin, experienced a meteoric rise. With an increase of over 200%, SHIB has climbed into the top 10 cryptocurrencies by market cap, boasting a capitalization of over 18 billion dollars.

At the time of writing this article, its SHIB token is trading at $0.0000317 and is attempting to knock off another zero. Despite a slight correction, the crypto still shows an impressive weekly gain of 40%.

Next, Pepe (PEPE), a newcomer inspired by the famous Internet meme Pepe the Frog, has exploded by 527% in just two weeks. Investors are flocking to this green frog which, although less known than Dogecoin or Shiba Inu, recently dominated in transaction volume. Its market cap doubled in 48 hours, jumping from 1.5 to over 3 billion dollars.

On the other hand, Floki Inu (FLOKI), launched in 2021, stands out with its community governance and ecosystem extending beyond decentralized finance. Its recent token burning event boosted its price to $0.0002336. In one week, Floki has managed to double its value for traders, moving from $0.00011 to over $0.00027. It’s now trading at $0.0002695 with a 24-hour trading volume of $1,726,934,880.

Overall, the market capitalization of memecoins reached a new record of 52 billion dollars, an increase of 18% in one week. This surge is explained by the enthusiasm of individual investors, boosted by social media and the accessibility of exchange platforms.

Artificial intelligence and gaming making their mark

In a bubbling market context, AI-related tokens have seen their valuation more than double in a month, reaching 25.1 billion dollars. Fetch.AI (FET) stands out particularly with a weekly surge of 78.96%, driven by the announcement of a 100 million dollar investment in its infrastructure.

FET displays a massive bullish rally with a leap of over 130% this week. Trading volume has risen by 41.97% to reach 1.13 billion dollars, a sign of institutional interest. The crypto has hit an all-time high and is now trying to break the $3 barrier.

In the gaming sphere, Gala is winning. As of the writing of this article, the GALA token is trading at $0.07652 with a daily volume of 1.7 billion dollars. It holds the 53rd spot on the CoinMarketCap ranking with a market cap of 2.2 billion dollars. 

The price of GALA has jumped by 30% in 24 hours, driven by the intense activity of whales. Gala Games’ recent partnership with Alienware and Amazon Web Services to organize a hackathon at the Game Developers Conference (GDC) 2024 has propelled the token’s price by 90% last week.

In summary, in a week marked by Bitcoin records, some alts have demonstrated their potential. Shiba Inu, Pepe, and Floki have ridden the memecoin wave, attracting investors in search of thrills. Meanwhile, Fetch.AI and Gala have proven that AI and gaming-related projects have bright futures ahead. It remains to be seen if this trend can continue into this week.