- Virtuals Protocol, Aave and Chainlink were the biggest winners last week.
- Dogwifhat, Brett and Bonk led from the other side of the table as the biggest losers.
This week saw Virtual Protocol [VIRTUAL] emerge as the best performing asset, with a gain of 39.80%, while Aave [AAVE] and ChainLink [LINK] also delivered impressive returns.
However, the week was not without losers, with memecoins topping the list and suffering notable declines.
Biggest winners
Virtual protocol [VIRTUAL]
Virtual Protocol emerged as the best performing asset last week, with a 39.80% increase, according to data from CoinMarketCap. It started the week on a positive note, rising 2.65% to trade around $1.70.
The uptrend gained strength between December 11 and 13, when sharp buying pressure pushed the price to a peak of $2.45.
This rapid rise reflected strong market sentiment and bullish activity, further supported by growing trading volume.
At the end of the week, the price stabilized around $2.45, despite a small decline of 0.19%, indicating a short profit-taking phase.
The consistent volume increase underlines the continued interest from investors. Its volume has declined by over 32% at the time of writing and is now approximately $205 million.
Aaf [AAVE]
AAVE emerged as the second highest gainer over the past week, rising an impressive 29.49%. The asset started the week with a modest upward move, trading around $282.85, reflecting the first signs of bullish momentum.
AAVE’s price action reached an inflection point on December 12, with a sharp 21.20% increase pushing the value to a weekly high of $367.10, driven by strong market demand and rising trading volumes.
Despite the strong performance, AAVE experienced minor selling pressure towards the end of the week, settling at $365.49 after a 3.24% decline.
The price correction indicates some profit taking, but remains within an overall bullish structure. If AAVE holds above USD 360, it could look to retest its recent high, with USD 340 as the critical support level to watch.
Chain link [LINK]
Chain link [LINK] emerged as the third biggest gainer over the past week, rising 12.66% despite significant price swings.
It started the week with a 5.23% gain and traded around $26.10, indicating early bullish sentiment. However, the price faced a sharp decline the next day, falling 14.57% to a weekly low of around $22.
This correction reflected profit-taking pressure but failed to dampen the overall bullish outlook.
Source: TradingView
The main turning point occurred on December 12, when LINK saw an impressive spike of 21.12%, catapulting the price to $29.00.
This sharp recovery was accompanied by an increase in trading volume, signaling renewed investor confidence and momentum.
By the end of the week, LINK stabilized at $29.11, registering a slight gain and solidifying its position as one of the best performing assets.
From a technical perspective, LINK remains above the 50-day moving average and acts as a key support level.
The Relative Strength Index (RSI) has been hovering around 69 and approaching overbought territory, indicating cautious optimism about continued gains.
The upward trajectory of the 20-day Bollinger Bands reflects continued volatility with room for further upside potential.
If the bulls maintain their momentum, Chainlink could target the psychological resistance at $30, with the $28 level as immediate support.
A decisive move above $30 could open doors to further gains, while failure to hold support could trigger a minor pullback.
Top 1,000 winners
Outside the top 100, this week’s top winner, Black Agnus [FTW]rose by more than 4,318%. The second and third biggest winners were Solvex Network [SOLVEX] and Peezy [PEEZY]with increases of over 3.965% and over 2.158% respectively.
Biggest losers
Dog hat [WIF]
WIF emerged as the biggest loser of the past week, dropping 27.07%. The bearish momentum started early, with a 4.18% decline on the first day of the week, sending the price down to around $3,717.
This initial weakness was amplified on December 9, when WIF saw a substantial decline of 18%, plummeting to the critical support level near $3.
Source: TradingView
Despite occasional attempts to stabilize, selling pressure continued throughout the week. By the end of the week, WIF closed at around $2,844, registering an additional 3% decline to round out its disappointing performance.
Moreover, the price has fallen below the 50-day moving average (currently near $3.00), indicating a bearish trend reversal. The 200-day moving average of $2.32 is now the next critical support level.
Meanwhile, the Relative Strength Index (RSI) is hovering around 42.33, indicating that WIF is approaching oversold territory but is not yet ready for a significant turnaround.
The Bollinger Bands suggest increased volatility, with WIF trading closer to the lower band, indicating continued downward momentum.
If bearish forces persist, WIF could retest support at $2.50. A recovery above $3.00 would be critical to any near-term recovery.
Brett [BRETT]
BRETT ranked as the second biggest loser of the past week, with a notable drop of 23.79%.
The downtrend started on a muted note, with a small decline of 0.79% on the first day of the week, leaving the price hovering around $0.20.
However, on December 9, selling pressure escalated sharply, resulting in a sharp decline of 17.81%, dragging the price to a key support level around $0.17.
Despite brief stabilization attempts, bearish forces dominated the rest of the week. By the end of the week, the BRETT had fallen further to around $0.16, marking an additional decline of 2.94%.
At the time of writing, BRETT’s market capitalization was approximately $1.6 billion, down over 8%.
Bonk [BONK]
BONK ended the week as the third biggest loser, with a significant drop of 23.32%. The bearish momentum started with a small decline of 1.40%, taking the price near $0.00004590.
However, like other memecoins, the token underwent a sharp correction of almost 15% the next day, falling to around $0.00003902.
Selling pressure increased and by the end of the week BONK had fallen further, closing at $0.00003645 after falling 6.15%.
Technical indicators paint a clear, bearish outlook. BONK’s price is now trading below its 50-day moving average, indicating short-term weakness.
However, the price remained above the 200-day moving average, indicating potential long-term support. Volume data shows significant selling activity, in line with the downward trend.
Top 1,000 losers
Outside the top 100, HarryPotterObamaSonic10Inu 2.0 was this week’s best loser [BITCOIN]with a drop of more than 99.91%. The second and third biggest losers were Trumpwifhat [TRUMP] and MICHI, with a decline of more than 99%.
Conclusion
Here’s the weekly recap of the biggest winners and losers. It is crucial to take into account the volatile nature of the market, where prices can change quickly.
So it’s best to do your own research (DYOR) before making any investment decisions.