Top cryptocurrencies to watch this week: PEPE, NOT, ONDO

Last week saw a second round of price rises in many leading cryptocurrencies, continuing the recovery trend compared to the previous week.

As a result, the capitalization of the global cryptocurrency market increased by $140 billion, reaching $2.57 trillion, an increase of 5.7%.

Following the remarkable movements these assets have recorded, here are our picks for the best cryptocurrencies to watch this week:

PEPE, NOT and ONDO prices – May 26 | Source: Santiment PEPE reaches new ATH for second consecutive week

Pepe (PEPE) has been on a sustained uptrend since mid-April, despite the instability seen in the broader market during this time period. Market data confirms that the meme coin sentiment has posted four consecutive intraday gains since April 20.

This trend occurred between April 20-23; From May 1 to May 4; and from May 11 to May 14.

Although Pepe failed to achieve a similar streak this week, it rose 45.86% on May 21 and 22, while the rest of the market faced a pullback. Recall that the frog-themed meme coin hit an all-time high of $0.00001161 two weeks ago.

Pepe hit an all-time high last week, rising to $0.00001577 on May 25. This price rally broke the overall bearish trend in the market triggered by Bitcoin’s (BTC) pullback from its May 20 high of $71,000.

Pepe increased by 75.88% in the last seven days, becoming the biggest gainer among the top 100 assets in this period. Meme coin is currently in the price discovery phase and has a 24-hour volume of $1.946 billion at press time, making it the seventh-largest coin in the crypto market.

Pepe’s Accumulation/Distribution metric confirms that last week’s rise was largely driven by peak demand. The value of the metric reached 615.79 trillion PEPE as of May 19, but rose to 775.91 trillion tokens by the end of the week. PEPE now changes hands at $0.00001606 to secure its claim at this threshold.

It won’t collapse for another 10%

Notcoin started the week with a massive 16.1% drop on May 19.

The cryptocurrency, which was first introduced as a closed beta on Telegram in November 2023, became the victim of an intense sales campaign shortly after its release.

The token crashed by 55% after launch as airdrop farmers stepped in to make money. This sales campaign continued last week.

Yet it gave up the opportunity to recoup most of those losses on May 20, when Bitcoin and the rest of the crypto market saw a rally.

Notcoin gained only 2.57% and continued its downward momentum in the following days.

The newcomer lost another 10.63% from its value last week, closing the week below the $0.005 price zone.

The 10.01% recovery on May 25 was not enough to offset all of last week’s losses. At its current value of $0.004964, NOTE is down 86.76% from its peak of $0.0370 when it debuted on Binance.

ONDO clinches new ATH

Ondo (ONDO) was one of the best performers last week. Like the broader market, the asset started the week on a bearish note, falling 3.82% on May 19.

However, to compensate for this loss, the market continued its recovery effort and closed May 20 with an impressive increase of 8.29%.

While the rest of the market clawed back gains for the day, Ondo, the native token of RWA tokenization platform Ondo Finance, saw a slight correction and then resumed its uptrend. It eventually reached its all-time high of $1.16 on May 24.

The asset surpassed this level by joining PEPE in price discovery mode. At a price of $1.28 at the time of reporting, ONDO is up 40.73% over the past seven days, marking the fifth-largest gain in that time frame.

The token compensated for the 23% loss it experienced in April with an increase of 71.88% this month.

However, Ondo’s position above the $1.28 level remains sensitive, especially with the 77.29 RSI indicating overbought levels.

The asset is expected to stage a correction, but bulls will need to find support at the 23.6% Fibonacci retracement level ($1.1873) to defend against any steep decline towards the lower spectrum of the $1 threshold.