The second week of November 2024 was an eventful one for the crypto market, such that many altcoins in the top 100 registered notable gains. However, out of these lots, BeInCrypto observed that the top altcoin gainers all fell into the meme coin category.

For some market observers, that may not be surprising as meme coins seem to have led gains on a number of occasions this cycle. That said, the top three altcoin gainers include Peanut the Squirrel (PNUT), frog-themed Pepe (PEPE), and Solana-based Bonk (BONK).

Peanut the Squirrel (PNUT)

PNUT, a token that recently gained attention, tops the list of the top altcoin gainers with an astonishing 2,091% surge over the past seven days. This dramatic rally was driven primarily by a surprise Binance listing, which sent shockwaves through the market.

While the development caused controversy, the meme coin’s market cap surpassed the $1 billion mark and is only inches away from reaching the $2 billion mark. On the 4-hour chart, PNUT’s price is $1.84, 25% down from its all-time high.

From the looks of things, PNUT’s price might face profit-taking. If that happens, the token’s value could drop to $1.33. 

However, a shift toward bullish sentiment could invalidate this thesis. In that scenario, PNUT could hit $2.16 or rally toward a new all-time high of $2.50.

Pepe (PEPE)

PEPE’s price skyrocketed by 118% this week, reaching a new all-time high. This performance secures its spot among the top altcoin gainers of the week. According to BeInCrypto’s findings, the token rallied for two reasons.

First, US-based brokerage firm Go to Source to See Full Article
Author: Victor Olanrewaju