- Bitget Token, Virtuals Protocol, and Pudgy Penguins stole the spotlight as the week’s biggest winners.
- Fantom, Hyperliquid, and Ondo faced the toughest blows as the biggest losers.
In this week’s crypto market review, Bitget Token [BGB] dominated for the second week in a row, surging by an impressive 87.99% to claim the top spot.
Virtuals Protocol [VIRTUAL] and Pudgy Penguins [PENGU] followed closely behind.
On the flip side, Hyperliquid [HYPE] dropped into the losers’ list, while Fantom [FTM] emerged as the biggest loser of the week. Ondo [ONDO] also faced a tough week, experiencing a significant double-digit decline.
Biggest winners
Bitget token [BGB]
Bitget Token [BGB] surged 87.99% this week, making a strong move into high-cap territory. It began the week with a 3% rise, closing at $4.301, and maintained consistent growth, hitting $7.700 at the time of writing.
The surge pushed its market cap past $10 billion, moving it from a mid-cap to a high-cap token. However, the real test may be approaching.
After reaching an all-time high of $8.50, BGB pulled back 7% in a single day, with the RSI nearing 100 – signaling overbought conditions and potential profit-taking ahead.
Source: TradingView
What’s particularly impressive is that this surge occurred during a broader market downturn. Investors seem to be favoring mid-cap tokens like BGB over the larger, riskier altcoins.
This shift gives BGB an edge moving into next week. Early signs show a renewed upside, with BGB already up 2% at the start of the trading day. Still, in the week ahead, volatility is expected. Tread carefully.
Virtuals Protocol [VIRTUAL]
Virtuals Protocol is leading the charge in the A.I. boom, and its price is showing it. To start the final week of the year, VIRTUAL surged 30% in a single day, sparked by a historic milestone.
On top of that, its market cap reached the $3 billion mark.
Despite some daily fluctuations, VIRTUAL continues to post new all-time highs, reaching $3.70 as of now. With a 7% jump in the last 24 hours and a bullish MACD crossover, expect more upside in the week ahead.
Pudgy Penguins [PENGU]
Pudgy Penguins [PENGU], launched right before the December 18 FOMC rate cut, is still holding strong.
This week, it surged 32%, claiming the third spot among top gainers. In fact, it stood out as the only memecoin in the top 20.
The week kicked off with a 16% daily surge, opening at $0.040 and riding a bullish uptrend for three days. A strong Christmas rally pushed 24-hour trading volume to $1 billion, reflecting robust buying momentum.
This momentum propelled PENGU’s market cap past $2 billion, overtaking dogwifhat [WIF] to become the 5th largest memecoin.
However, questions linger as PENGU now trades at $0.035, below its opening-week price. Additionally, despite impressive gains, it has yet to reclaim its $0.050 launch day high.
Top 1,000 gainers
Outside the top 100, this week’s top gainer, DOGO [DOGO], surged by over 3,690%.
The second and third-largest gainers were StakeCubeCoin [SCC] and Black Phoenix [BPX], with over 1,364% and over 643% increases, respectively.
Biggest losers
Fantom [FTM]
Fantom [FTM] had a rough week, leading the losers with an 18.78% drop. The token has been in a steady decline since hitting $1.50, a high it hadn’t seen since March.
While its pullback aligns with the broader market crash, FTM’s losses were notably sharper. Now trading at levels last seen a month ago, it has erased all gains from November’s bullish cycle.
Source: TradingView
The RSI painted a slightly bullish picture, hovering at levels historically linked to reversals. However, with ongoing volatility, predicting a rebound is tricky.
Though trading volume increased by 11%, signaling some activity, a strong bottom might still be forming. It’s shaping up to be a critical week for FTM – proceed with caution.
Hyperliquid [HYPE]
HYPE had a volatile week. Just last week, it was in the top 3 gainers, closing at $28.90. However, it began this week with an 11% drop, signaling massive profit-taking.
However, a deeper pullback seems unlikely. Despite the volatility, the price is holding strong above $27, thanks to a bullish 24-hour trend.
Its market cap is up 7%, nearing $10 billion, marking a shift from mid to high cap. This consolidation is a positive sign, with bulls likely keeping bears at bay. A bullish week ahead.
Ondo [ONDO]
Ondo [ONDO] faced a sharp decline this week, dropping 13% and becoming the third-highest loser. Like FTM, ONDO has been on a steady decline since Bitcoin’s crash.
While it opened the week on a positive note with a 4% daily rise, the bearish pressure soon took over.
Half of November’s gains have been erased, with ONDO dropping back below $1.50, a key support level. However, its volume is up 30%, and ONDO is showing positive signs across various metrics.
If this trend continues into next week, ONDO could be poised for a potential reversal.
Top 1,000 losers
Outside the top 100, this week’s top loser was BSC Layer [BSC] with an over 100% decline. The second and third-biggest losers were Jurat [JTC] and Bome Trump [TRUMP], with over 99.96% and 99.06%, respectively.
Conclusion
Here’s the weekly recap of the biggest gainers and losers. As always, it’s important to remember the volatile nature of the crypto market, where prices can change quickly.
Therefore, doing your own research (DYOR) before making any investment decisions is key. Stay informed and cautious in this ever-changing landscape.
