- Top weekly movers: Four [FORM], Onyxcoin [XCN], and Dogwifhat [WIF] saw extreme price swings.
- Top weekly losers: Pi Network [PI], Optimism [OP], and Brett [BRETT] took a hit, trailing the charts.
Markets threw a mixed bag this week, but the total crypto market cap still squeezed out a 2.5% gain to hit $3.43 trillion. Bitcoin[BTC] chopped sideways (+0.73%), stuck in range-bound limbo, while Ethereum[ETH] ripped +15.8%.
Whale activity surged as Strategy accumulated 13,390 BTC worth $1.34 billion at an average price of $99.8K. Meanwhile, Tether made a bold move, purchasing 4,812 BTC for $459 million.
Yet, despite the heavy accumulation, it was the high- and mid-cap altcoins that grabbed the spotlight, stealing liquidity flows.
Rotation season might just be kicking off.
Weekly winners
Four [FORM] – All-in-one ecosystem rockets to the top
Four [FORM] launched to the top of the weekly gainers leaderboard with an 18.32% pump.
The lion’s share – a massive 80% – exploded in a single mega green candle on the 12th of May, launching FORM 16.67% higher early in the week and blasting through to a fresh all-time high at $2.97.
Profit-taking kicked in over the next three sessions, pulling FORM back to $2.60 as sellers tested the tape.
But bulls quickly regrouped, firing off a sharp 7% bounce that landed FORM at $2.86 at press time. Technicals are flashing bullish divergence.
With firm bid-side support underpinning price action, FORM is primed to challenge the $3 resistance level soon.
Keep this one on your scanner – definitely a coin to keep locked on your radar next week.
Onyxcoin [XCN] – DAO protocol stalls as momentum cools off
Onyxcoin [XCN] clocked in second place on the weekly movers, flexing double-digit gains.
However, it played the comeback kid, firing off a surprise midweek rally. The week opened with bears dominating at $0.0186, grinding price lower for three straight sessions.
Then, on the 15th of May, XCN saw a 20.97% rocket blast that caught shorts off guard, triggering a juicy liquidity trap.
Still, bears aren’t backing down. The RSI is tipping downward as XCN tests the $0.020 resistance zone, signaling the bulls might be running out of steam.
Volume is down 27.77% to $81.97 million at press time, signaling that bears might be gearing up for another push. A long squeeze could drag XCN lower soon. Hence, tread carefully!
dogwifhat [WIF] – Dog-memecoin breaks through key FOMO zone
dogwifhat [WIF] pulled a textbook breakout this week, clocking in a 13% rally that screamed short-term alpha play in a market clouded by macro FUD.
After a weak open and rejection near the $0.97 supply zone, WIF bulls fired back on May 12 with a monster 26.39% candle, sending price action ripping through overhead resistance to tag $1.34.
That move flipped a key level into support, invalidating the local bearish bias and flipping the script.
Momentum overheated fast, with RSI punching into overbought territory before cooling.
The cooldown came quick: WIF retraced to $1.01 at press time, even wicking as low as $0.92.
For WIF to reload and break higher, bulls need to defend the $0.90–$1.00 demand zone with conviction. Without a solid bid wall, another fade could be on the table.
Other notable winners
Outside the majors, altcoin rockets stole the spotlight.
Launchcoin [LAUNCHCOIN] exploded with a staggering +2002.2% weekly move, dominating the leaderboard.
Maple [MPL] surged +1761%, while Babyboomtoken [BBT] popped +270%, riding a wave of speculative momentum.
Weekly losers
Pi Network [PI] – Utility token retraces sharply, erasing last week’s upside
Pi Network [PI] got nuked this week, topping the loser board with a savage 29.65% correction from its weekly open of $0.78. Consequently, erasing every inch of last week’s rally.
The week kicked off with fireworks. A monster 43.72% intraday candle on the 13th of May sent PI soaring past the psychological $1 mark, tagging $1.67 – a two-month-high.
Bulls were euphoric, realized profits flooded in, and the order books lit up. But that explosive move turned into a classic bull trap.
That vertical move triggered a classic liquidity hunt, trapping late longs and flipping the momentum. The result? A full retrace down to $0.69 by week’s end.
With trading volume down 42% and no clear bid wall in sight, PI’s 5.23% bounce at press time looks speculative. Unless dip-buyers step up big, this token might stay grounded for now.
Optimism [OP] – L2 heavyweight drops hard from recent highs
Optimism [OP] lost its footing this week, tumbling 18.10% after last week’s failed breakout attempt near $0.9735 – a key rejection point that flipped the script for bulls.
Despite the RSI leaving headroom for a rally, it was clear the bulls didn’t have a coordinated push for the $1 psychological breakout.
Bears sniffed out the hesitation and pounced, exploiting the low-conviction bid to trigger a sell-side cascade.
That led to a fast trip south as OP tagged a two-month high only to see weak hands shake out at breakeven.
The result? A swift round of distribution left price action dangling near $0.70. Technically, reclaiming $0.68 as a strong demand zone is now mission-critical.
But with volume drying up, any further weakness could crack the floor, setting the stage for a deeper leg down unless buyers step up fast.
Brett [BRETT] – Base memecoin stages a bullish rebound
Brett [BRETT] slipped 11.35% this week, landing it third on the loser board.
After reclaiming the $0.09 level to close last week, BRETT looked primed for continuation, even tagging a four-month-high.
But that rally turned into exit liquidity as short-term holders hit the eject button without flinching.
The memecoin lost momentum fast, unable to capitalize on Bitcoin’s chop fest, and ceded retail flows to WIF’s breakout.
Still, BRETT’s volatility playbook isn’t done. The token staged a sharp 13.01% intraday reversal at press time, signaling a potential trend shift.
Volume’s ticking up, and rotational capital might just circle back. If bulls defend this bounce zone, BRETT could be gearing for a chart flip.
Other notable losers
In the broader market, downside volatility hit hard:
Housecoin [HOUSE] tanked with a steep -58% retracement, leading the weekly losers.
Revox [REX] and Doodles [DOOD] followed suit, sliding -50% and -34.2%, respectively, amid broader cooling.
Conclusion
Crypto volatility delivered another wild ride with sharp winners and painful pullbacks. Price swings stayed fast and furious – the perfect storm for savvy traders.
Remember: DYOR before jumping in. Stay sharp, trade smart, and ride the waves wisely!
