As the cryptocurrency industry undergoes rapid evolution, it is crucial to stay updated for making well-informed decisions. Each day brings forth new trends that reshape the digital currency landscape.
By staying informed and adopting a data-driven approach, individuals can seize opportunities and navigate the dynamic world of cryptocurrencies confidently and flexibly. In line with this, a recent price analysis conducted by Finbold reveals the three most trending cryptocurrencies and the factors attracting investor attention.
As of June 2, CoinMarketCap indicates that the three most trending cryptocurrencies are Pepe (PEPE), XRP (XRP), and Sui (SUI).
For several weeks, Pepe has maintained its top position on CoinMarketCap’s list of trending cryptocurrencies. This particular meme coin, inspired by Matt Furie’s beloved cartoon character ‘Pepe the Frog,’ captured the attention of the crypto community last month due to its astounding price surge.
Although the price of PEPE has since experienced a notable decline, it continues to generate significant buzz as one of the most-discussed cryptocurrencies of the moment. At the time of writing, PEPE is being traded at $0.000001269, exhibiting a 1% increase over the past 24 hours.
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However, over the course of the previous week, PEPE has witnessed a decline of more than 12% and is currently down by over 70% from its all-time high of $0.00000431, which was achieved on May 5.
On a monthly basis, PEPE’s price remains up over 5%.
PEPE 1-month price chart. Source: CoinMarketCap
In recent weeks, meme coins have dominated the list of most-trending cryptocurrencies, following the influential trend set by PEPE, which resulted in significant price surges for coins like LADYS and KEKE.
However, XRP has now emerged as one of the top three trending digital assets. This shift in ranking is attributed to notable price increases in the sixth-largest cryptocurrency, driven by a surge in network activity and positive developments in Ripple’s legal battle against the US Securities and Exchange Commission (SEC).
As of the time of writing, XRP is being traded at $0.52, reflecting a daily rise of over 1.8%. Impressively, over the past week, this popular cryptocurrency has experienced substantial gains of more than 13%.
Maintaining its position as the third most-trending cryptocurrency for several weeks now, SUI continues to garner attention. SUI is the native token of Sui Network, a platform developed by Mysten Labs.
The primary goal of Sui Network, founded by former Facebook engineers, is to reduce the execution time of smart contracts and enhance scalability for decentralized applications. Mysten Labs created SUI to facilitate the maintenance and operation of the underlying blockchain.
The token serves various purposes, including payment of transaction and operational fees, as well as rewarding the network’s validators. As of the time of writing, the price of SUI stands at $0.94, indicating a slight decline of around 1.4% over the past 24 hours. In the previous week, the cryptocurrency experienced a decline of over 4.6%, and in the span of a month, it has fallen by almost 80%.
In contrast to previous weeks, only PEPE has managed to maintain its position among the most-trending cryptocurrencies. This can be attributed to a decline in investor interest specifically in meme coins, while other well-established cryptocurrencies like XRP have witnessed significant price surges.
Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.
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