- Shiba Inu surged by 41.93%, leading market gains with strong bullish indicators.
- Cardano surpassed TRON, entering the top 10 cryptocurrencies with a 13.28% price rise.
- The total crypto market grew by 5.98%, reaching a $2.32 trillion market cap.
The crypto market has shown upward solid momentum this week, with several major coins seeing significant gains. Shiba Inu (SHIB) leads the pack with an impressive 41.93% increase over the last seven days. Trading at $0.0000198, SHIB’s rise is fueled by a growing market cap, which now stands at $11.67 billion.
The coin’s 24-hour trading volume has risen by 12.23%, reaching $1.47 billion. Indicators such as the Relative Strength Index (RSI) suggest SHIB is overbought, with an RSI reading of 77.91. Additionally, the Moving Average Convergence Divergence (MACD) is trending above the signal line, signaling continued bullish momentum.
Cardano (ADA) also significantly boosted, jumping by 13.28% over the past week. Trading at $0.4002, ADA’s market cap has climbed to $13.99 billion, allowing it to surpass TRON and enter the top 10 cryptocurrencies by market capitalization.
ADA’s trading volume has decreased by 27.53% despite the price increase, now at $258.15 million. Nevertheless, the rise in Cardano’s market position signals growing investor confidence.
The broader cryptocurrency market is showing positive momentum, with the total market capitalization increasing by 5.98% over the past week to more than $2.32 trillion. Weekly trading volume has also increased, climbing 4.7% to $76.96 billion.
The Fear and Greed Index, which measures market sentiment, currently sits at 57, indicating a neutral position. However, the index leans slightly toward greed, suggesting market sentiment tilts toward bullishness.
Amid the broader market gains, some trending tokens have experienced notable declines. Hamster Kombat (HMSTR), listed this week, saw a 28.03% drop in value. The coin currently trades at $0.006569, with a market cap of $422.83 million.
HMSTR’s 24-hour trading volume dropped significantly by 74.17%, falling to $294.81 million. Other coins, such as HI and ELON, have similarly experienced declines, while coins like MAD and BTC have trended upward.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
