Ready to uncover the best performing crypto tokens and hidden gems this week? Dive into Mamoru Insider's handpicked selection and expert analysis to stay ahead of the game in the ever-evolving world of cryptocurrency. Your next big investment opportunity awaits.
Top Crypto Tokens of the Week – A Comprehensive Breakdown
Welcome to Mamoru Insider, your premier source for staying ahead of the ever-evolving world of cryptocurrency. Our mission is to empower you with the latest insights and trends on the most promising crypto tokens.
The Top Crypto Tokens of the Week
BTC
Recently, Bitcoin achieved a significant milestone, touching a nine-month peak at around $26,500 on Tuesday. However, it has since pulled back to below $25,000 after the U.S. Consumer Price Index report revealed a deceleration in inflation.
On the technical side, Bitcoin's weekly chart reveals the cryptocurrency struggling to maintain its position above $25,000, a level that limited gains in the previous month and August 2022. The 200-week moving average is currently right around this level and if Bitcoin can break through this barrier, it could shift attention towards the next resistance level at $28,600.
ETH
In the last week, Ethereum (ETH) has experienced a notable increase in value, with its price rising close to 5%. This growth may be attributed to market sentiment, and the narrative around SVB.
Ethereum core developers are currently preparing a testnet for the forthcoming Shanghai upgrade, scheduled to take place next month. The Shanghai upgrade aims to introduce various improvements to the Ethereum network, addressing aspects such as scalability, security, and overall performance.
The price action around the upgrade should also be monitored by investors as this will enable all ETH stakers who have had ETH locked over the past year, to unlock and sell.
BNB
Despite Binance being under pressure lately, the BNB token is up 5% over the past 7 days. Likely benefiting from the broader crypto market rise, led by Bitcoin.
MATIC
Polygon (MATIC) continues to experience a rise in its price action, with social dominance increasing due to the introduction of the Polygon domain. The cryptocurrency has been a steady uptrend since February 18, 2023.
As of now, MATIC's price is up over 2% for the week after reaching a peakl of around $1.24. The trend reversal shifted the asset from bearish to bullish, with the Relative Strength Index (RSI) crossing the neutral line.
At Mamoru Insider, our team of experts takes a systematic approach to selecting the top performing crypto tokens, each week. To narrow down our selection, we focus exclusively on tokens that are ranked within the top 50 by market cap. This allows us to concentrate on well-established projects with a strong presence in the crypto space.
Our experts then evaluate the top 50 Crypto tokens based on three main criteria:
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Trading volume:
We pay close attention to tokens with consistently high trading volumes, as this can be an indicator of liquidity and market interest. High trading volumes suggest that a token is readily available for trading and has a strong demand from investors.
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Largest moves in price over a 7-day period:
Our experts analyze the price performance of these tokens in the past week, looking for significant price movements that might indicate potential for further gains. By doing so, we aim to identify tokens with strong price momentum that could potentially continue to outperform the market.
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Fundamental analysis:
Apart from the quantitative factors, we also consider qualitative aspects of each project, such as the use cases, team credentials, technological innovation, and overall potential for growth. This helps us to select tokens that have a strong foundation and are likely to have a lasting impact on the crypto ecosystem.
By combining these criteria, our experts handpick the top crypto tokens that demonstrate the perfect blend of market cap, trading volume, recent price action, and solid fundamentals. Our goal is to present you with the most promising tokens that have the potential to deliver outstanding returns, while also encouraging you to perform your own research before making any investment decisions.
