Altcoin
Biggest Altcoin Gainers of the Last Week of July 2024
Altcoin prices took a step back from the significant hikes this week, unlike the third week of July 2024. However, this does not imply the absence of a few exceptions.
Even though the uptick is not evenly spread, some of the usual suspects remain present. However, the list of gainers for the last week of July is interesting as there are entirely new entries compared to the previous weeks.
cat in a dogs world (MEW) Is Changing the Theme on Solana
Things change very fast in the crypto market, and the emergence of MEW as the top altcoin gainer proves that. cats in a dogs world is a cat-themed meme coin built on the Solana blockchain.
This week, the price of MEW, as it is commonly called, stunned the market and jumped by 85.68%. When compared with other dog-themed meme coins like Bonk (BONK) and dogwifhat (WIF), there is an incredible difference.
The outstanding rise in MEW’s price strengthens the speculation that meme coin dominance on Solana is shifting from the dogs to the cats. It also agrees with the opinion that meme coins will likely dominate the altcoin season.
Another altcoin backing this sentiment is Popcat (POPCAT), whose price also notes an incredible rise. At press time, MEW trades at $0.0072, representing a notable drop from the weekly high of $0.0087.
Read More: Which Are the Best Altcoins To Invest in July 2024
Despite the recent drawdown, MEW’s price may soon rebound. This is because of the signs shown by the Moving Average Convergence Divergence (MACD), a trend-following momentum indicator that uses moving averages to determine price acceleration or deceleration.
As seen in the chart above, the MACD is positive on the daily chart. Therefore, if buying pressure returns, the value of the cryptocurrency may rise to $0.0087 again. However, if profit-taking increases, the bullish prediction may be invalidated, and MEW may drop to $0.0065.
Helium (HNT) Rises, But May Slow Down
HNT, the native token of Helium, a decentralized blockchain-powered network, is one of the top-performing altcoins.
At press time, HNT trades at $5.30 after noting a 23.76% increase in the last seven days. According to the daily chart, HNT experienced a decline on July 16, as the price fell to $3.57. This was the start of the uptrend, which saw the price ascend to $6 earlier.
However, Helium’s price risks a decline, according to signals from the Relative Strength Indicator (RSI). The RSI measures momentum and shows whether an asset is overbought or oversold. A reading of 70.00 or above means it is overbought, while those at 30.00 or below are overbought.
As of this writing, HNT is overbought, suggesting that a retracement could be next for the token. Consequently, the value of the altcoin may drop to $4.79. However, if buying pressure increases, the price could attempt to retest $6.
Pyth Network (PYTH) Looks Ready to Grab More Greens
Recently, BeInCrypto reported that PYTH’s Open Interest reached a two-week high, confirming that much attention has been paid to the altcoin. In the past seven days, the token price has risen by 15.12%, making it one of the top altcoin gainers of the last week of July 2024.
Unlike HNT, PYTH’s price may continue to hit new highs. This is because of the signs shown by two indicators — the Parabolic SAR and the Chaikin Money Flow (CMF).
The CMF shows if a token is experiencing a lot of moment flow or not. If it increases, then there will be a good level of accumulation. Should it decrease, it means participants are distributing. For Pyth, it is the former, suggesting that the price could hit a higher value.
Read More: 7 Hot Meme Coins and Altcoins that Are Trending in 2024
The Parabolic SAR, on the other hand, determines trend direction using a stop and reverse method. Put simply, the price tends to reverse downward if the dotted lines are above it. But in PYTH’s case, the dotted lines are below the price.
Should this continue, PYTH’s price may jump to $0.39 or reach $0.44 in the short term. However, if token holders begin to distribute, the price can fall to $0.33.
Disclaimer
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As the cryptocurrency market evolves, it’s becoming evident that hype alone can’t sustain a token’s value. This realization has led some of the largest Bonk (BONK) holders, known as “whales,” to diversify their portfolios by investing in GoodEgg (GEGG). Experts are now predicting a potential 100x return on GoodEgg (GEGG), with some of the most prominent Bonk (BONK) whales taking early positions in the token’s presale.
More Than A Memecoin: Bonk Whale Shift to GEGG
One of the largest Bonk (BONK) holders, previously known for their substantial investments in the meme coin space, has recently made headlines by becoming an early investor in GoodEgg (GEGG). This shift comes as Bonk (BONK) continues to face declining momentum, losing 2% in value over the last 24 hours, with weekly losses stacking up to 10%. The whale’s move reflects a growing sentiment that the current meme coin market is becoming oversaturated, with investors searching for projects that offer more than just speculative gains.
Bonk (BONK), once a rising star on the Solana network, has seen a significant reduction in trading volume, and many analysts believe that its future will depend heavily on finding new utility or partnerships to maintain investor interest. While the Bonk (BONK) community remains hopeful, the shift of whales to projects like GoodEgg (GEGG) highlights a growing trend among larger investors who prioritize long-term growth over short-term gains.
GoodEgg’s Strong Fundamentals
In contrast, GoodEgg (GEGG) offers more than just hype. It is a utility-driven project with an AI-based dating platform that leverages blockchain for security and privacy. The project’s innovative approach to online dating has sparked interest from investors who see it as a real-world solution with significant potential for user adoption.
GoodEgg’s presale has already raised over $495,000, showing that investors are eager to get in early on this project. The platform’s combination of blockchain security and AI matching technology provides a fresh approach in a saturated online dating market, which is expected to grow significantly in the coming years.
Experts Predict 100x Gains and Long-Term Scalability
Market analysts are now predicting that GoodEgg (GEGG) has the potential to generate 100x returns for early investors, particularly as its platform begins to attract more users and integrates additional features. The scalability of GoodEgg (GEGG) in the dating industry, combined with its AI-driven capabilities, gives it an edge over traditional meme coins like Bonk (BONK).
While Bonk (BONK) struggles to maintain its market position, GoodEgg (GEGG) is gaining traction among both retail and institutional investors. The whale’s entry into GoodEgg (GEGG) has further validated the project’s potential, with many now looking at it as the next big thing in the crypto space.
As the presale continues, those who missed out on Bonk (BONK) during its early days are now looking at GoodEgg (GEGG) as their next opportunity for massive gains. With strong fundamentals and a clear roadmap, GoodEgg (GEGG) is positioned to become a major player in the crypto market, leaving Bonk (BONK) in the dust as it builds a long-term, sustainable future.
Join GoodEgg (GEGG) For More Information On Presale, Use links below to join our community:
Visit GoodEgg (GEGG)
Telegram: https://t.me/GEGG_OFFICIAL
X/Twitter: https://x.com/GoodEggToken
FIDA and MEW, cryptocurrencies based on the Solana blockchain, saw noteworthy positive sentiment on Thursday as they secured vital listings. Solana Name Service (FIDA) secured a listing on Binance, whereas cat in a dogs world (MEW) scored a listing on Upbit. These listings have garnered significant attention globally as the tokens’ prices skyrocketed 25%-30% in tandem with the announcement.
Solana Tokens FIDA & MEW Secure Vital Listings On Binance & Upbit
According to official announcements by the mentioned exchanges on September 19, both the tokens are set to witness particular listings today. As per Binance’s official announcement, the crypto exchange is set to launch FIDAUSDT USD-Margined perpetual contract today at 12:30 UTC. Simultaneously, Upbit’s announcement revealed that it listed MEW with BTC and USDT pairs on the same day.
Intriguingly, Binance revealed that it listed FIDA with up to 75x leverage for users on the platform. Further, the crypto exchange set the capped funding rate at +2.00% / -2.00%.
Simultaneously, Upbit Korea listed cat in a dogs world within BTC and USDT markets. The Asian crypto exchange revealed that it will also add transaction support starting today.
The Solana coins listings have primarily sparked market optimism over future movements, paving the way for new money inflow into the tokens.
Tokens’ Prices Rocket Over 25%
Simultaneously, FIDA price gained nearly 45% against the backdrop of Binance’s listing announcement. The coin rested at $0.3243 today with an intraday low and high of $0.2204 and $0.3297, respectively.
Similarly, MEW price pumped nearly 26% to reach $0.00533 riding the back of Upbit listing. The coin’s 24-hour low and high were $0.00407 and $0.005728, respectively.
Meanwhile, the rising price action primarily aligns with today’s listing announcements, as seen with numerous tokens previously. CoinGape Media reported Kadena (KDA) price surged nearly 30% with its futures listing on Binance.
Also, another report reveals that PEPE and BRETT prices pumped notably on their listings on Upbit. Altogether, the exchanges’ listings rationalize today’s massive price gains.
Simultaneously, Coinglass data illustrated an 82% surge in MEW’s futures OI to $76.31 million. Additionally, the coin’s derivatives volume skyrocketed 531% to $735.63 million today. This surge has projected further optimism for the Solana-based token. Also, it’s worth noting that Solana (SOL) price upsurged 8% to trade at $140 today.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
XRP News: Ripple-partner SBI Holdings has confirmed participation in Project Agora, a joint initiative led by the Bank for International Settlements (BIS) and seven central banks. XRP community reacted to the development due to speculation of potential integration or alignment for the cross-border payments over a unified ledger initiative.
Ripple Partner SBI Reveals Participation in BIS-Led Project Agora
In a press release on September 19, SBI Holdings revealed participation by the bank in Project Agora. Ripple’s partner participation the initiative brings XRP in the spotlight as the bank is a key partner for XRP and XRP Ledger adoption.
Project Agora is an initiative jointly led by the Bank for International Settlements (BIS) and central banks to improve the functionality of cross-border transactions through tokenization. The central banks are Banque de France, the Bank of Japan, the Bank of Korea, the Bank of Mexico, the Swiss National Bank, the Bank of England, and the Federal Reserve Bank of New York.
“Through this project, we hope to improve the functionality of the financial system while maintaining the two-tiered structure of central bank money and private bank deposits, and provide new solutions that utilize smart contracts and programmability, thereby providing highly convenient services in cross-border transactions.”
The BIS/SWIFT-led initiative uses digital tokens representing assets, on a unified ledger, with smart contracts. The Institute of International Finance has convened 41 private sector institutions such as JPMorgan, Standard Chartered, Sygnum Bank, Visa, Mastercard, Citi, and HSBC.
XRP News: Token and XRPL In the Spotlight
While the initiative to revolutionize cross-border payments through tokenization doesn’t specifically mention XRP and XRP Ledger, the community believes Ripple’s technology aligns with Agora Project.
Ripple has focused on exploring the possibilities of tokenization on the XRP Ledger. In June, the company partnered with Archax to bring tokenized real-world assets (RWA) onto the XRP Ledger.
Moreover, the unified ledger concept resonates with Ripple’s Interledger Protocol (ILP), which connects banks and blockchains. This suggests a potential role for Ripple’s technology in the framework, if not XRP directly.
XRP community claims Ripple and BIS and several central banks have collaborated earlier for developments including central bank digital currencies (CBDC). Currently, Ripple CEO Brad Garlinghouse said that the company is seeking adoption in traditional finance.
XRP price jumped 2% in the past 24 hours, with the price currently trading at $0.58. The 24-hour low and high are $0.563 and $0.589, respectively. Furthermore, the trading volume has increased by 25% in the last 24 hours, indicating a rise in interest among traders.
Notably, Ripple is also a leader in remittance. If it captures 50% of the global remittance market, which is projected to reach $11.53 trillion in 2024 and $16.59 trillion by 2028, XRP price could even hit $5.
Varinder Singh
Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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