The cryptocurrency market rose for the second week in a row, with meme coins and decentralized finance-based tokens powering the surge.
What happened: Solana (CRYPTO: SOL)-based Fartcoin topped the gainers list with an astounding 83% rally over the previous week.
The unconventional meme token hit a 5-week high of $0.56 on Sunday, blasting past the $550 million market capitalization.
That said, the rally might not sustain itself for long. Influential cryptocurrency analyst Ali Martinez spotted a sell signal for the coin on the TD Sequential Indicator, indicating a potential pause or correction.
| Cryptocurrency | Gains +/- | Price |
| Fartcoin (FARTCOIN) | +83.56% | $0.5511 |
| PancakeSwap (CRYPTO: CAKE) | +33.33% | $2.65 |
| Bonk (CRYPTO: BONK) | +25.91 | $0.00001344 |
CAKE, the native token of decentralized exchange PancakeSwap, recorded yet another successful week, surging over 33%. The rise was likely aided by a 41% jump in trading volume on the platform over the week.
Another Solana-based meme coin, BONK, capped the week as the market’s third largest gainer, gaining over 25%. The canine coin jumped to a 3-week high.
Widely followed cryptocurrency trader CW noted BONK’s breakout from a falling wedge formation, widely interpreted as a bullish reversal pattern.
See Also: Cathie Wood Believes Most Memecoins Will Face ‘Fearsome Declines,’ But They Could End Up Becoming Collector’s Items
Market heavyweights Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) also made meaningful strides last week, gaining 3.60% and 5.63%, respectively.
The more established meme coins, however, struggled. While Dogecoin (CRYPTO: DOGE) barely changed with a 0.46% move, Shiba Inu (CRYPTO: SHIB) slid 3.45% over the week.
Official Trump (CRYPTO: TRUMP) finished the week at a healthy 4.36% spike, bolstered by President Donald Trump’s promotion.
The total cryptocurrency market capitalization expanded 3.6% over the week to $2.83 trillion.
Image via Shutterstock
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