Another week begins in the cryptocurrency market, bringing with it new opportunities for traders and investors in the sector.
The last week of May started strong, with most major capitalization assets accumulating gains over the last 24 hours. This movement still reflects the impact of last week when Bitcoin (BTC) renewed its all-time high (ATH).
With this in mind, can we see BTC and other assets achieving new historical feats in the coming days? Check out our list of 5 cryptocurrencies that deserve extra attention this week.
Bitcoin close to a new record
Bitcoin (BTC) has resumed upward movement after a significant correction last Friday (23). According to CoinGecko, the cryptocurrency is just 2.3% away from surpassing its current record price of $111,814.
The daily chart shows validation of the 0.5 retracement level and the 9-day exponential moving average (EMA) (blue) as supports. If this pattern continues, and if buyers can break the 0.236 level at $109,630, the chances of BTC recording a new record this week will be high.
In this sense, traders and investors should stay alert, as a new ATH could generate a new wave of bullish momentum throughout the market.
Dogecoin in the sights of whales
Dogecoin (DOGE) has once again attracted the attention of whales. Data from Santiment shows that users holding between 100 million and 1 billion DOGE purchased over 700 million units in the last week.
This movement reinforces the bullish potential of the memecoin, given that large investors tend to influence the market due to their financial power.
However, the cryptocurrency continues to follow a downward trend, forming lower highs and lows. DOGE may continue to fall to the trend line, currently at $0.21, before attempting a new bounce.
This movement requires caution, but it can also represent an opportunity for those seeking entry points.
Hyperliquid impresses with high volume
Hyperliquid (HYPE) continues to attract a large volume of users on its platform. Recently, the platform recorded a daily volume of $8.6 billion, which could further boost the price of the native token, which has already risen over 90% throughout May.
Nevertheless, the daily chart warns of the possibility of a prolonged correction, especially if the asset starts forming candles below the 0.236 level at $36.56. The current RSI, still above 70, indicates that this scenario could occur this week.
Kaito AI prepares for a big airdrop
Kaito AI, a cryptocurrency analysis platform, is expected to announce a major airdrop of its native token in the coming days. In this regard, the project team has been encouraging its community with weekly rewards, and this next airdrop is expected to engage stakers even more.
This movement could drive an increase of over 20%, bringing the token up to the $2.40 region. However, if selling pressure increases after the airdrop, KAITO could drop by up to 15%, testing support at $1.70.
BTC Bull Token rides the Bitcoin surge
The recent rise of Bitcoin (BTC) has reignited optimism in the market, and the BTC Bull Token (BTCBULL) emerges as a project that leverages this favorable moment.
The project offers $BTCBULL tokens as rewards to holders when Bitcoin reaches specific price milestones. In addition, it implements a token burning mechanism at strategic intervals, increasing its scarcity and potential value.
The pre-sale of BTCBULL is experiencing significant growth, attracting investors seeking safe and profitable exposure to the cryptocurrency market. With over $6 million raised so far, the project is proving to be an alternative to watch closely this week.