This week, the crypto market felt like a rollercoaster ride.
With Bitcoin rebounding sharply from a low of $98,000 and memecoins experiencing wild swings—rallying nearly 10% to reclaim the key resistance level at $107,000—short-term risk appetite was reignited. Capital flowed back into speculative assets, though market sentiment remained fragile as traders oscillated between risk-taking and caution.
Weekly Winners
Pudgy Penguins [PENGU] – Memecoin Leads with Strong Bullish Reversal
PENGU surged 60% from its weekly open of $0.08, fueled by a classic short squeeze and renewed memecoin rotation. After an initial 2.17% dip, momentum reversed sharply, with a 16.32% spike signaling early accumulation. A midweek 7% pullback set the stage for a 46% rally, driven by trapped shorts and liquidity grabs.
Key Levels:
- Resistance: $0.015 (last tested in early May).
- Support: Hold above $0.012 could push PENGU toward $0.017–$0.020.
- RSI: Rising but not overbought, suggesting room for upside.
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Sei [SEI] – Layer 1 Blockchain Extends Gains for Second Week
SEI climbed 51% this week, marking its second consecutive week in the spotlight. A 22% breakout past $0.20 resistance was followed by a 25.84% surge to $0.33. Despite a 16% midweek correction, buyers stepped in, closing near $0.30.
Outlook:
- A hold above $0.33 could propel SEI into price discovery.
- Momentum indicators briefly overheated but stabilized.
Maple Finance [MAPLE] – On-Chain Asset Manager Hits All-Time High
MAPLE rose 49.56%, continuing its multi-month uptrend. A 12.8% rebound from $0.43 formed a "jump rope" structure, leading to a breakout at $0.65.
Watch:
- Support at $0.60 is critical to avoid deeper retracement.
- Historical patterns suggest consolidation after rallies.
Other Notable Winners
- AI Champions (AIC): +136.2%.
- Bananas For Scale (BANANAS31): +89.3%.
- MMX (MMX): +79.6%.
Weekly Losers
Kaia [KAIA] – Social Platform Token Faces Bearish Reversal
KAIA dropped 5.55%, signaling exhaustion after last week’s rally. A rejection at $0.20 (January high) triggered six consecutive red candles, with RSI showing bearish divergence.
Key Levels:
- Support: $0.15–$0.16. Break below may target $0.12.
GateToken [GT] – Exchange Token Under Pressure
GT fell 4%, failing to sustain last week’s bounce. Weak buying interest at $15.00 raises risks of a drop to $14.00 (historical demand zone).
Curve DAO Token [CRV] – DeFi Token Breaks Critical Support
CRV lost 3%, testing $0.50 support. Lack of volume hints at further downside toward $0.35 if $0.55 isn’t reclaimed.
Other Notable Losers:
- MATCHAIN (MAT): -47.2%.
- Cross the Ages (CTA): -45.3%.
FAQs
Q: Why did PENGU surge this week?
A: A short squeeze and memecoin rotation drove its 60% rally, with technicals supporting further upside.
Q: Is SEI’s rally sustainable?
A: Yes, if it holds $0.33 as support. The Layer 1 blockchain has strong momentum.
Q: What’s next for CRV?
A: Breaking $0.55 is crucial to avoid a drop to $0.35. Current sentiment leans bearish.
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Conclusion
Volatility dominated this week, with winners like PENGU and SEI shining while KAIA and CRV struggled. Always DYOR, trade wisely, and navigate the waves cautiously!