Markets
WIF, HNT, CORE and PEPE post weekly gains of over 40%
Dogwifhat, Helium, Core, and Pepe emerged as the top gainers in the cryptocurrency market over the past week, with each token seeing a price increase of over 40%.
Dog Hat
Dog with hat (Wireless) has risen more than 50% in the past seven days, trading at $2.56 at the time of writing.
Crypto assets recorded a daily trading volume of $311 million, while their market capitalization surpassed the $2.55 billion mark according to data from CoinMarketCap.
WIF Price Chart | Source: CoinMarketCap
Despite lacking a clear utility, WIF — the dog-themed meme coin based on Solana — has become one of the best-performing meme coins of 2024.
Its website humorously notes that it is “literally a dog in a hat.”
The WIF token has surpassed other well-known meme coins like Shiba Inu and Pepe Coin in terms of price gains. In March, supporters quickly funded a campaign to project Dogwifhat’s image onto the Las Vegas Sphere, surpassing their fundraising goal within days.
Helium
Helium (HNT), a blockchain network aimed at the Internet of Things (IoT), has jumped 47.8% over the past week and is now trading at $4.70.
With a market capitalization of approximately $756 million, Helium ranks 92nd in the global cryptocurrency ranking by market capitalization, as reported by CoinMarketCap, and has a trading volume of approximately $8.6 million.
Helium is a pioneering blockchain network designed to enable wireless communication for IoT devices on a global scale.
Created by Helium Inc., founded in 2013, this network offers a decentralized, cost-effective and scalable connectivity solution.
Rather than relying on centralized infrastructure like traditional telecommunications services, Helium’s unique approach allows individuals to become network hosts by running Hotspots, specialized hardware devices that provide coverage and transmit data for IoT devices.
In exchange for their participation, hosts receive Helium Tokens (HNT), encouraging network expansion and density.
Heart
Heart (HEART) has seen a 47% increase in the past seven days. According to price data from crypto.news, CORE is currently trading at $1.64, with a 62.9% increase in daily trading volume to around $115 million.
CORE Price Chart | Source: TradingView
Currently, CORE’s market cap is valued at $1.47 billion. Despite the recent surge, the token’s price is still 75% below its all-time high of $6.47, which was recorded on February 8.
Core operates as a decentralized digital payment system on its dedicated blockchain network. It uses a proof-of-work protocol to validate transactions and mine new coins. The cryptocurrency is designed with privacy in mind, supporting anonymous transactions through sophisticated cryptographic methods.
As an open source project, Core’s development is supported by a global community of volunteer developers.
This digital asset is used for direct peer-to-peer transactions, is stored in crypto wallets, and is available for trading on various digital asset exchanges.
Grandpa
Grandpa (PEPE) has increased by 40% over the past day, trading at $0.000012 at press time. Its daily trading volume is hovering around $614 million over the past 24 hours.
PEPE’s market capitalization is $5.16 billion, ranking it as the 22nd largest cryptocurrency.
PEPE Price Chart | Source: TradingView
Pepe, an Ethereum-based token that debuted on April 15, is inspired by popular meme culture. It aims to capitalize on the meme coin trend, leveraging the widespread recognition of its amphibious mascot. This approach has resonated favorably with traders and investors, raising the token’s profile in the cryptocurrency market.
Designed as a deflationary token with no tax implications on transactions, Pepe is looking to carve out a niche for itself among established meme currencies like Shiba Inu and Dogecoin. The token’s association with the popular “Pepe the Frog” meme is central to its strategy to attract a broader user base.
Bitcoin climbs 12% on strong rally
The overall rise of these altcoins followed that of Bitcoin (Bitcoin) Bitcoin has risen 12% over the past week, hitting $67,180 on Sunday. Bitcoin’s 24-hour lows and highs were $66,640 and $67,567, respectively.
Yesterday, the world’s largest cryptocurrency attempted to break above $68,000 but ran into resistance, leading to an early halt in the rally by bearish traders.
Despite this setback, BTC’s strong performance over the week had a positive influence on the overall sentiment of the cryptocurrency market. Sentiment shifted from fear to greed, with the Greed Index rising sharply to 74, a significant increase from last week’s score of 33.
At the same time, the global cryptocurrency market capitalization also saw an increase of 1.42% over the past day, reaching a total of $2.43 trillion.