FTX Token (FTT), Popcat (POPCAT), and Wormhole (W): Top 3 Altcoins That Rallied the Most This Week
- DDDOriginal
- 2024-10-06 09:50:14907browse
Heading into October and Q4, the markets have already begun recovering, bringing gains to many crypto assets, with some altcoins even establishing new all-time highs.
As we head into October and Q4, the markets have already started to recover, bringing gains to many crypto assets, with some altcoins even establishing new all-time highs.
BeInCrypto has analyzed the top three best-performing altcoins of the last seven days, which include Solana meme coin POPCAT, which formed a new ATH this week.
Here’s a closer look at the best-performing altcoins last week
FTX Token (FTT) surprised the market with its outperformance among the top 100 cryptocurrencies compared to other major altcoins. FTT has surged 95% during the week and currently trades at $2.72. The dramatic rise attracted the attention of traders and investors.
This rally was mainly driven by rumors that creditors were starting to pay back their debts. A hearing on this allocation plan is expected to be held on October 7, and the bullish atmosphere will continue, which may push prices further upward.
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If this momentum continues, FTT could rise to $2.98. However, if momentum weakens, the coin could fall back to $2.54 or even $2.20, leaving investors wary of potential risks.
Popcat (POPCAT) price hit an all-time high this week, jumping 31% in the past 24 hours. The Solana Solona meme coin broke above the $1.00 resistance, setting a new ATH of $1.29 after failing to break above this level all week.
The catalyst for this sudden rally remains unknown, but if POPCAT holders avoid selling, the token could continue its upward trajectory. This could lead to the formation of new ATHs, further boosting market confidence.
However, if profit-taking ensues, it could halt the bullish momentum. A drop to $1.00 could follow, and a loss of this key support would invalidate the current bullish outlook.
Wormhole (W) price may not have seen as explosive a rise as other coins, but it is still impressive with a 14.8% gain. Currently trading at $0.34, this altcoin has caught the attention of its investors.
Wormhole almost reached an intra-week high of $0.42, but fell back below resistance at $0.35. This barrier has remained intact since mid-July and a break above this barrier could lead to further gains towards $0.42.
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A test of $0.42 as resistance would set a near four-month high. However, if Wormhole fails to break above $0.35, it may still consolidate between $0.28 and $0.35, invalidating the bullish outlook.
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