Crypto market’s weekly winners and losers – AAVE, MOG, RNDR, WIF

• Mogcoin, Aave, and Ronin were the biggest winners of the past week.
• Render, dogwifhat, and Akash Network had the biggest losses in the past week.

A cat-themed memecoin topped the gainers’ chart this past week, while a dog-themed memecoin was among the losers. Despite this, the overall market experienced more gains than losses, indicating a generally positive trend for the period.

Biggest winners

Mog Coin (MOG)

Mog Coin [MOG] emerged as the standout performer over the past week, according to CoinMarketCap’s ranking data. It concluded the week with a notable gain of 32.51%, securing its position as the week’s biggest gainer. 

Despite a shaky start, where it opened the week at approximately $0.0000013 and experienced a decline until 9th July, Mogcoin saw a significant turnaround. From 9th July onward, the price began to climb, closing the week at about $0.0000015. 

As of this writing, Mogcoin was trading at around $0.0000019. Its market capitalization has surpassed $683 million, reflecting an 18% increase in the last 24 hours alone. 

Aave (AAVE)

Aave [AAVE] emerged as the second-largest gainer last week, according to data from CoinMarketCap, with an impressive 25.30% increase. 

The journey wasn’t smooth; it began the week with a nearly 6% decline, trading at approximately $78.27. The following day, however, Aave saw a rebound of over 4% and continued to gain throughout the week, ending at about $99.26—a rise of over 1.8% for the day.

Further analysis using the Relative Strength Index (RSI) underscores this growth, showing a shift from bearish to bullish trends. Initially, Aave’s RSI was around 37, but by week’s end, it had climbed to 62, firmly indicating a strong bullish trend. 

Source: TradingView

Additionally, Aave managed to break through its short and long-term moving averages (yellow and blue lines), which had previously acted as resistance levels.

As of this writing, Aave was trading at around $100. Its market capitalization has grown to over $1.5 billion, marking an increase of more than 3% in the last 24 hours. Trading volume has also been strong, with over $108 million exchanged.

Ronin (RON)

Ronin [RON] ranked as the third-highest gainer of the week, with a notable increase of over 22%, according to data from CoinMarketCap. The week started somewhat shakily for Ronin, opening at around $1.7 and then dipping to about $1.6 on the following day. 

However, the price began to climb from the third day of the week, culminating in a closing price of approximately $2.12 by the week’s end.

As of this writing, Ronin was trading at around $2.15 and boasts a market capitalization of over $721 million. Despite this strong market presence, its trading volume has seen a significant decrease, dropping by over 50% in the last 24 hours, currently standing at over $9 million.

Biggest losers

Render (RNDR)

Render [RNDR] faced a challenging week, as evidenced by CoinMarketCap data showing it closed with an 8.85% decline, marking it as the biggest loser of the week.

The week began with RNDR trading at around $6.7, but it experienced a steady drop from there. The lowest point came on 12th July, when it dipped to $5.7, before slightly recovering to close the week at approximately $5.9.

As of this writing, Render was trading at around $6.16. Its market capitalization was about $2.4 billion, having seen a slight decline. Trading volume for Render has also decreased significantly, dropping over 31% in the last 24 hours to over $96 million.

Dogwifhat

Dogwifhat [WIF], a dog-themed memecoin, experienced a tough week, ranking as the second-biggest loser with an 8.15% decline, according to CoinMarketCap data. 

The coin faced a steep drop right at the beginning of the week, plummeting almost 17%, which reduced its price from around $2 to about $1.6.

Also, despite several minor uptrends throughout the week, these were insufficient to reverse the overall negative trend.

Source: TradingView

By the end of the week, WIF managed a slight recovery, closing at around $1.60 with a 2.2% increase for the day. As of this writing, it was trading at around $1.67, showing a further increase of over 4%.

However, its Relative Strength Index (RSI) was around 40, indicating that it was still in a bearish trend.

The WIF market capitalization was around $1.6 billion. Trading volume has seen a decline of over 9% in the last 24 hours, totaling more than $219 million.

Akash Network (AKT)

Akash Network [AKT] rounded out the top three losers of the week with a 6.19% decline, according to CoinMarketCap data.

The analysis of its price trend indicated that it began the week at around $3.6 but continued to slide downward. By the end of the week, AKT’s price had dropped to approximately $3.4.

As of this writing, AKT was trading at around $3.45. Its market capitalization was over $842 million. Additionally, there has been a significant decrease in trading volume, which has fallen by nearly 40%, now totaling over $14 million.