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The week of memecoins: the numbers are headline-making
By Davide Grammatica
With the help of several cex, some new memecoins posted incredible numbers: the performance of ACT, PNUT and GOV
Stunning performance for memecoins
The spotlight last week was not only on Bitcoin. The first cryptocurrency’s new ATHs have also upturned the altcoin sector, and memecoins in particular , capable of attracting the liquidity of an incredible number of new investors.
Especially in these hours, when BTC seems to be slowing down, some coins do not seem intent on stopping, on the strength of a rally that, in some cases, has touched as much as +3,000% in a few days.
The AI Prophecy (ACT) memecoin is first on the list. Binance’s listing this week took the token literally “to the moon”, for a +3,000% rally in a week that makes ACT a new industry benchmark.
Having touched its ATH at $0.95, the token now looks like it could consolidate around the $0.70 support, provided investors do not start making most of the profits. This factor also applies to all the other cryptos that have been on the rise over the past week, but the fact that, following the listing, we have not seen sharp corrections, bodes well.
The risks of a booming sector
Peanut the Squ irrel (PNUT), a tribute to the star squirrel of Donald Trump‘s election campaign , also posted an out-of-the ordinary growth of 1,579 percent in seven days. And a key role was played by Elon Musk with his tweets of (veiled) endorsement of X.
PNUT is already among the top100 cryptos by capitalization, and it does not seem intent on stopping there, given the boost from a “degen” community that is more alive than ever. Its ATH at $2.50 was followed by a consolidation phase around $1.80, and only the loss of critical support around $1.69 could invalidate the bullish trend.
The same reasoning applies to DOGE(GOV), on the strength of a bullish rally fueled by the same factors. Growth of 244% in the last week was followed by an ATH at $0.54, and now the game is on maintaining $0.16.
Obviously, investing in these assets involves taking disproportionate risks relative to an industry, in itself, already complicated enough. As we are wont to recount (and explain in depth in our Learn platform ), the proper balance of one’s portfolio is essential in order to approach these assets.
