Biggest Altcoin Gainers of the First Week of January 2025

by

Three digital currencies have been drawing attention lately, including Fartcoin (FARTCOIN), SPX6900 (SPX), and Ethena (ENA). Among them, Fartcoin, a rapidly growing player in the meme coin market, saw a significant increase of 67% over the past week. It has reached new record highs and solidified its position as the fifth-largest meme coin on Solana.

The SPX index hit a record peak worth $1.22 billion and surged by 63% this week, even though there was a minor decrease in transaction activity. On the other hand, Ethena (ENA) saw a 37% increase after unveiling its 2025 strategic plan.

Fartcoin (FARTCOIN)

Originally introduced on Pump.fun, FARTCOIN now boasts a market capitalization of $1.4 billion and experienced a 67% increase in value during the last seven days. This digital currency has been consistently reaching new peak prices recently, reinforcing its status as the fifth-largest meme coin on Solana network.

The Exponential Moving Averages (EMA) continue to indicate a positive trend, implying that the upward movement may continue. Should this bullish trend hold, FARTCOIN might encounter resistance at around $1.61, and a breakthrough could propel its price to reach approximately $1.7 or potentially even $1.8.

If the $1.299 level doesn’t manage to keep the price stable, there might be a significant drop instead, possibly taking the price as low as $0.92 and falling even below the $1 threshold.

SPX6900 (SPX)

The SPX cryptocurrency recently hit an unprecedented peak, boasting a market value of $1.22 billion, which ranks it among the top 100 largest alternative coins. Over the last week, its price has increased by approximately 63%, indicating robust buying interest, although daily trading volume decreased by around 27%.

If the positive momentum persists, it’s possible that the SPX may climb higher to challenge resistance points around $1.40 and even reach $1.50 for the first time. Conversely, should the trend flip, the SPX might revisit its strongest support level at approximately $0.93.

If we see a drop past this point, it may lead to additional decreases, potentially driving the value as low as $0.819 or even $0.615.

Ethena (ENA)

In recent developments, Synthetic Dollar (Ethena), a platform operating on the Ethereum network, has been standing out among other alternative cryptocurrencies this week. The value of Ethena has significantly increased by approximately 37% over the past seven days.

The unveiling of their 2025 strategic plan, encompassing the development of a Telegram payment application and strategies for TradFi integration, has sparked considerable curiosity among investors.

Currently sitting at a market capitalization of $3.77 billion, ENA is currently only 19% shy of its highest recorded value. If the current upward trend continues, ENA might successfully break through the resistance level of $1.32 and approach testing its all-time high price of $1.50.

If the momentum weakens, Enanta Pharmaceuticals (ENA) might test the $1.12 support again. If it can’t maintain that level, the price may drop to around $1.01.

Read More

2025-01-05 00:38