- This week’s crypto market saw sharp contrasts as utility and memecoins surged, led by AB and SPX, while AI and DeFi tokens like DEXE and JUP faced steep declines amid political uncertainty.
- Key support levels will be crucial in the coming days as traders watch for potential rebounds or further sell-offs.
The crypto market had another wild week as political drama stirred investor nerves. Headlines dominated by Donald Trump and Elon Musk’s high-stakes power plays didn’t do much to boost confidence — Bitcoin and Ethereum slipped, while traders grew cautious. Yet amid the turmoil, some tokens surged ahead and others sank, showcasing a sharp divide between utility tokens’ strength and AI-based tokens’ weakness.
Here’s a rundown of the week’s biggest winners and losers and what it means for crypto traders.
Weekly Winners: Utility Tokens Shine While Memecoins Rally
AB (AB): Rebounds Strong to One-Month Peak
AB took the crown this week with a remarkable 25.63% rally, closing at $0.0108. More than half of that gain happened in a single explosive session on June 7, when AB surged 22%. Despite this sharp spike, technical indicators like RSI suggest the momentum still has room to run, and trading volumes spiked over 77%. According to AMBCrypto, this might be prime short squeeze territory if sell-side liquidity dries up, signaling a potential retest of $0.011 soon.
Also read: HYPE Price Rally: Is $40 Within Reach? Key Indicators Signal Bullish Breakout Potential
SPX6900 (SPX): Memecoin Extends Bullish Run
SPX followed closely with a 22.97% weekly gain, extending a rally from last week. Despite a brief dip midweek, bulls pushed the price back near $1.18. The token’s structure remains bullish with strong FOMO at play, eyeing a breakout above the $1.20 resistance level.
Sky (SKY): Governance Token Surges Before Bearish Pullback
SKY surged nearly 12% to $0.07 after hitting a high of $0.10 — its best since December. However, profit-taking pushed it back down. The crucial $0.07 level now serves as support; holding this may set the stage for a fresh breakout beyond $0.10 resistance.
Weekly Losers: AI Tokens and DeFi Tokens Struggle Amid Market Pressure
DeXe (DEXE): Sinks to Six-Month Low on Brutal Selloff
DEXE dropped 24.52%, including a historic 31.95% single-day plunge, hitting $8.20. This reversal came after last week’s strong recovery and triggered heavy long liquidations. Despite a slight bounce back to $10.66, DEXE remains fragile, needing a clear breakout above $14 to regain bullish momentum.
Jupiter (JUP): No Support, Steady Decline
JUP slid 13.81% to $0.44, struggling to find a stable support base. The token’s repeated failed rallies show weak buyer conviction, raising the risk of a further drop toward $0.40 unless bulls step in decisively.
Bittensor (TAO): AI Token Faces Continued Downtrend
TAO fell 10.97% to $370 after a prolonged decline from its May peak near $500. Bearish pressure, fragile liquidity, and a recent 9% drop in Open Interest keep the token under stress. A retracement toward $330 looks likely unless smart money boosts buying.
Chaos and Opportunity Amid Political and Market Volatility
This week’s crypto market showed its usual volatility, with utility tokens and memecoins capitalizing on momentum, while AI and DeFi tokens endured sharp declines. Traders will want to watch key support and resistance levels closely, especially for tokens like AB and DEXE, where short squeezes and rebounds could redefine near-term trends.
As always, political noise adds unpredictability, but it’s the on-chain activity and technical setups that will guide savvy investors through the chaos.