Crypto Top Gainers This Week: Arweave (AR), PEPE, BONK in Focus

Ibrahim Ajibade
Updated: May 17, 2024, 22:35 GMT+00:00

Key Points:

  • The global crypto market capitalization grew by $200 billion this week, reflecting a 9% growth.
  • Arweave (AR), PEPE and Solana-hosted Memecoin, BONK are some of the prominent top-performing crypto assets for the week.
Crypto Top Gainers

In this article:

Crypto top gainers: PEPE, Arweave, and BONK are some of the low-cap altcoins that led the charge as bullish momentum returned to the crypto markets this week. 

Arwaeve (AR) Price Surges 32%

Arweave (AR)  is a unique type of storage platform that backs data with sustainable and perpetual endowments, allowing users and developers to store  data indefinitely.

It is a decentralized storage network that utilizes a modified version of the blockchain, termed “blockweave,” for permanent data storage.

Arweave (AR) price performance | May 2024 | TradingView
Arweave (AR) price performance | May 2024 | TradingView

AR token is the native cryptocurrency of the Arweave network, used to pay for storage and bandwidth on the network. This week, the crypto market rebound sent AR price racing to a 32% rally.

At the time of writing, Arweave’s market capitalization has crossed the $3 billion milestone. More notably it has broken in the to top 50 crypto rankings according to CoinMarketCap data.

PEPE Price rose 40% to All-time High amid Memecoin Market Rally

PEPE is an Ethereum-based cryptocurrency positioned as the next step in the evolution of meme coins, leveraging the memetic power of Pepe the Frog, a recognizable internet meme.

Launched without any presale or taxes, PEPE aims to be a coin for the people, with its liquidity provider tokens burned and contract renounced.

PEPE Price Performance | May 2024 | Crypto Top Gainers 
PEPE Price Performance | May 2024 | Crypto Top Gainers

PEPE price action has been nothing short of remarkable. Between May 12 and May 17, PEPE delivered a blistering 40% growth performance, reaching a new all-time high of $0.000012 during the week.

Thanks to the resurgent Gamestop rally, the crypto memecoin markets witnessed a flurry of retail demand. Amid the memecoin rave, PEPE emerged the most sought-after mega cap meme, as its market

BONK led Solana-Memes with 22% Gains

BONK is a community-focused cryptocurrency designed to integrate into Solana DApps across the network. It also serves as a unit of account and a reward for user participation.

BONK Price Performance | May 2024 | Crypto Top Gainers
BONK Price Performance | May 2024 | Crypto Top Gainers

This week, BONK price gained 22% as Solana-hosted memes surprisingly lagged behind the likes of Shiba Inu (SHIB) and PEPE.

But with the Gamestop rally still in full-flight, and Solana price approaching a key resistance level, there’s every tendency that the pendulum could swing, and propel Solana-hosted memes like WIF, BONK and BOME further upwards in the coming week.

About the Author

Ibrahim Ajibade Ademolawa is a seasoned research analyst with a background in Commercial Banking and Web3 startups, specializing in DeFi and TradFi analysis. He holds a B.A. in Economics and is pursuing an MSc in Blockchain.

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