Heading into October and the fourth quarter, the market began to recover, delivering gains for many crypto assets, with some top altcoins even setting new record highs.
TinTucBitcoin analyzed the 3 best performing altcoins over the past seven days, including Solana meme coin POPCAT, which hit a new ATH this week.
FTX Token (FTT)
FTX’s native token, FTT, surprised the market by surpassing every major altcoin in the top 100 cryptocurrencies. FTT is up 95% on the week and is currently trading at $2.72. This strong growth has attracted the attention of both traders and investors.
The rally was mainly driven by rumors regarding the start of repayments to creditors. With a hearing on the distribution plan scheduled for October 7, the bullish sentiment is expected to continue, possibly increasing prices further.
If the bullish momentum holds, FTT could reach $2.98. However, the token could also drop to $2.54 or even $2.20 if the trend weakens, making investors cautious about the potential risks.
Popcat (POPCAT)
POPCAT price has hit a new record high this week, up 31% in the past 24 hours. This Solana-based meme coin broke through the $1.00 resistance level, setting a new ATH at $1.29 after struggling to break the threshold throughout the week.
The reason for this sudden price increase remains unclear, but if POPCAT holders avoid selling, the coin could continue its upward trend. This could lead to the formation of a new ATH, further boosting market sentiment.
However, if profit-taking occurs, this could halt the upward price momentum. A decline to $1.00 is possible, and a loss of this key support would invalidate the current bullish outlook.
Wormhole (W)
Wormhole’s price may not have seen the same boom as other tokens, but it still impressed with a 14.8% increase. Currently trading at $0.34, this altcoin has attracted the attention of investors.
Wormhole neared its weekly high of $0.42 but fell back below the $0.35 resistance. This barrier has been in place since mid-July, and breaking it could lead to a further rally towards the $0.42 level.
A test of $0.42 as resistance would establish a near four-month high. However, if Wormhole fails to break $0.35, it could remain in a consolidation phase between $0.28 and $0.35, invalidating the bullish outlook.