Bitcoin, Ethereum Ticked Higher But Dog-Themed Bonk Stole The Spotlight With A 33% Rally Last Week – Emeren Group (NYSE:SOL)

The cryptocurrency market increased for the 2nd week in a row, with meme coins and decentralized finance-based tokens powering the rise.

What occurred: Solana SOL/USD– based Fartcoin topped the gainers list with a remarkable 83% rally over the previous week.

The non-traditional meme token struck a 5-week high of $0.56 on Sunday, blasting past the $550 million market capitalization.

That stated, the rally may not sustain itself for long. Prominent cryptocurrency expert Ali Martinez found a sell signal for the coin on the TD Sequential Indication, suggesting a prospective time out or correction.

CAKE, the native token of decentralized exchange PancakeSwap, tape-recorded yet another effective week, rising over 33%. The increase was most likely assisted by a 41% dive in trading volume on the platform over the week.

Another Solana-based meme coin, BONK, topped the week as the marketplace’s 3rd biggest gainer, acquiring over 25%. The canine coin leapt to a 3-week high.

Extensively followed cryptocurrency trader CW kept in mind BONK’s breakout from a falling wedge development, extensively analyzed as a bullish turnaround pattern.

See Likewise: Cathie Wood Thinks A Lot Of Memecoins Will Face ‘Terrifying Decreases,’ However They Might Wind Up Becoming Collector’s Products

Market heavyweights Bitcoin BTC/USD and Ethereum ETH/USD likewise made significant strides recently, acquiring 3.60% and 5.63%, respectively.

The more recognized meme coins, nevertheless, had a hard time. While Dogecoin DOGE/USD hardly altered with a 0.46% relocation, Shiba Inu SHIB/USD moved 3.45% over the week.

Authorities Trump TRUMP/USD completed the week at a healthy 4.36% spike, strengthened by President Donald Trump’s promo.

The overall cryptocurrency market capitalization broadened 3.6% over the week to $2.83 trillion.

Image through Shutterstock

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