Dogwifhat, Helium, Core, and Pepe emerged as the biggest gainers in the cryptocurrency market over the past week, with each coin seeing a price increase of over 40%.
Dogs
Dogwifhat (WIF) has seen a surge of over 50% over the past seven days, trading at $2.56 at the time of writing.
The daily trading volume of crypto assets reached $311 million, while its market cap crossed the $2.55 billion mark, according to CoinMarketCap data.
Despite its lack of any clear utility, WIF – the Solana-based dog-themed meme coin – has become one of the best-performing meme coins of 2024.
Her website sarcastically notes that she is “really just a dog wearing a hat.”
WIF has outperformed other popular meme coins like Shiba Inu and Peppe Coin in terms of price gains. In March, backers quickly funded a campaign to display an image of Dogwifhat on a Las Vegas ball, surpassing its fundraising goal within days.
Helium
Helium (HNT), a blockchain network targeting the Internet of Things (IoT), has surged 47.8% over the past week and is now trading at $4.70.
With a market cap of around $756 million, Helium ranks 92nd in the global cryptocurrency rankings by market cap, according to CoinMarketCap, and has a trading volume of around $8.6 million.
Helium is a leading blockchain network designed to enable wireless communications for IoT devices globally.
Created by Helium Inc., founded in 2013, the network provides a decentralized, cost-effective, and scalable communication solution.
Rather than relying on centralized infrastructure like traditional telecom services, Helium’s unique approach allows individuals to become network hosts by operating hotspots – specialized devices that provide coverage and transmit data to IoT devices.
In exchange for their participation, hosts receive Helium Tokens (HNT), which encourages network expansion and density.
essence
Core (CORE) has seen a 47% surge over the past seven days. According to price data from crypto.news, CORE is currently priced at $1.64, with a 62.9% increase in daily trading volume to around $115 million.
CORE’s current market cap is $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 own blockchain network. It uses a proof-of-work protocol to validate transactions and mine new coins. The cryptocurrency is designed with a focus on privacy and supports anonymous transactions through advanced cryptographic methods.
As an open source project, Core development is supported by a global community of volunteer developers.
This digital asset is used in direct peer-to-peer transactions, stored in cryptocurrency wallets, and available for trading across various digital asset exchanges.
baby
Pepe (PEPE) stock is up 40% over the past day, trading at $0.000012 at the time of writing. It has a daily trading volume of around $614 million over the past 24 hours.
PEPE has a market cap of $5.16 billion, ranking it as the 22nd largest cryptocurrency.
Baby, an Ethereum-based cryptocurrency that debuted on April 15, is inspired by popular meme culture. It aims to capitalize on the meme coin trend, capitalizing on the widespread recognition of its amphibious mascot. This approach has resonated well with traders and investors, raising the token’s profile in the cryptocurrency market.
Designed as a deflationary token that incurs no transaction taxes, Pepe aims to carve out a niche among established meme coins like Shiba Inu and Dogecoin. The token’s association with the popular “Pepe the Frog” meme is crucial to its strategy to appeal to a wider user base.
Bitcoin rises 12% in strong rebound
The overall rise in these altcoins came on the heels of Bitcoin (BTC) gaining 12% over the past week, reaching $67,180 on Sunday. Bitcoin’s 24-hour high and low were $66,640 and $67,567, respectively.
The world’s largest cryptocurrency tried to break through the $68,000 level yesterday but faced resistance, leading to an early halt in the rally by bearish traders.
Despite this setback, Bitcoin’s strong performance throughout the week has had a positive impact on the broader crypto market sentiment. Sentiment has shifted from fear to greed, with the Greed Index rising sharply to 74, a significant increase from last week’s score of 33.
Meanwhile, the global market cap of cryptocurrencies also saw a 1.42% increase over the past day, reaching a total of $2.43 trillion.