This week has been a prosperous one for meme coins, as they have emerged as the top gainers. The surge in meme coins can be attributed to the April CPI report, which revealed a moderation in core inflation and a larger-than-expected decline in retail sales.
Chainlink Price Analysis
Chainlink (LINK) has experienced the most significant gains this week. At the time of writing, Chainlink is trading at $16.70, reflecting a 22% increase in its price over the past seven days. Furthermore, its market capitalization has reached $9.8 billion during this period.
The surge in Chainlink’s price can be attributed to its collaboration with RapidAddition. This collaboration allows institutional firms to interact with a diverse range of tokenized assets through a FIX-native blockchain adapter powered by Chainlink’s CCIP. This partnership has generated increased optimism among investors.
GBBC member @ChainlinkLabs recently announced its collaboration with #RapidAddition. This collaboration enables institutional firms to interact with a wide range of tokenized assets through a FIX-native #blockchain adapter powered by @Chainlink’s #CCIP ⛓️. Read the announcement ⤵️ — Global Blockchain Business Council (GBBC) (@GBBCouncil) May 16, 2024
Fantom Price Analysis
Fantom (FTM) has also emerged as one of the top gainers this week. At present, Fantom is trading at $0.8797, showcasing a 20.03% increase in its price over the past seven days. Its market capitalization has reached $2.4 billion during this period.
The rise in Fantom’s price can be attributed to the recent announcement that the FantomIndia validator node has been upgraded to Sonic tech. This development has sparked investor interest, leading to a surge in prices.
“I am excited and honored to be a Fantom validator for the past 4 years. Future is even brighter with Sonic. Thank you @FantomFDN, @michaelfkong, @AndreCronjeTech, and $FTM community for your trust” pic.twitter.com/wsfTdIJfVL — FantomIndia Validator #48 (@Fantom_India) May 17, 2024
Bonk Price Analysis
Bonk (BONK) has also experienced substantial gains this week. At the time of writing, Bonk is trading at $0.0000271, reflecting a 17.76% increase in its price over the past seven days. Its market capitalization has reached $1.7 billion during this period.
The surge in Bonk’s price can be attributed to the ongoing memecoin supercycle, which has led to a surge in several meme coins, consequently impacting Bonk’s price this week.
“I don’t worry about whether we’re in a memecoin supercycle or if we put in the top yesterday, I just trade my levels. With that said, I looked at the $BONK chart yesterday and knew I’ve seen it somewhere before. If things get really bullish, we certainly got a blueprint.” pic.twitter.com/A86odykL1v — Crypto Chase (@Crypto_Chase) May 18, 2024
Floki Price Analysis
Floki (FLOKI) has also witnessed significant gains this week. At present, Floki is trading at $0.0002004, showcasing an 18% increase in its price over the past seven days. Its market capitalization has reached $1.9 billion during this period.
The recent surge in Floki’s price can be attributed to the recent Floki DAO decision to burn 15,246,000,000 $FLOKI tokens. An overwhelming majority of 99.84% voted in favor of the burn.
“IT’S OFFICIAL: FLOKI DAO PASSES VOTE TO BURN 15,246,000,000 FLOKI TOKENS. The #Floki DAO has voted in favor of burning 15,246,000,000 $FLOKI tokens, with an overwhelming majority of 99.84% voting in favor of the burn. In line with the decision of the Floki DAO, the tokens will…” pic.twitter.com/TGRA8hzVj4 — FLOKI (@RealFlokiInu) May 15, 2024
JasmyCoin Price Analysis
JasmyCoin (JASMY) has also experienced gains over the past seven days. At present, JasmyCoin is trading at $0.02017, reflecting a 13.6% increase in its price during this period. Its market capitalization has reached $994 million.
JasmyCoin’s recent surge can be attributed to the announcement of Jasmy’s Incubated program, known as #JANCTION. This program provides insights into the AI-focused blockchain and the decentralized GPU market, generating increased interest in the token and driving up its price.
“Excited to share details about #Jasmy’s Incubated program, #JANCTION! Discover #JANCTION’s perspective on the AI-focused blockchain and the decentralized GPU market. Check it out! Join our community” pic.twitter.com/pbjA3kxU7D — JANCTION (@JanctionMGT) April 25, 2024
