Last week, top cryptocurrencies Solana (SOL), Book of Meme (BOME), and Sui (SUI) saw notable price shifts as the volatile cryptocurrency market reached a peak of $1.71 trillion before dropping to $1.54 trillion.
Solana up 32%
Solana experienced a notable surge in price last Monday, rising by 20.78% from March 11 to 14, marking four consecutive days of gains.
On March 14, it reached a peak of $178 before undergoing a slight retracement. This retracement continued into the next day, causing the asset to drop to $164.
However, Solana quickly recovered, ending March 15 above the $183 mark and ranking among the top gainers.
Despite a mild loss of 1.03% on March 16, Solana managed to recover the following day, reclaiming its losses even amid a broader market downturn that saw Bitcoin fall below $65,000.
As of the reporting time, Solana has surged by 32% heading into the current week, trading at $192, to surpass the $200 psychological threshold.
BOME surges 29,900%
The recently launched Solana-based meme coin, Book of Meme (BOME), experienced a significant surge in interest, leading to the largest weekly rally witnessed in the market in quite some time.
According to data from CoinGecko, BOME began trading at $0.00005880 on March 14, quickly attracting attention from market participants amid the positive sentiment surrounding Solana meme coins. This surge in interest propelled BOME to skyrocket by 9,814% to reach a high of $0.00583 on March 15, before undergoing a retracement.
The successful pre-sale of the meme coin contributed to its rapid ascent, with its social presence further boosted when Binance announced plans to list the asset on March 16. Bybit also revealed similar intentions.
BOME’s price surged to $0.02703 on March 16 as investors sought to capitalize on the uptrend, representing a staggering 39,000% increase from its initial trading price of $0.000005880. This surge propelled BOME into the top 100 assets by market capitalization.
Despite a subsequent drop from the $0.02703 peak following the Binance listing, BOME has maintained its position above the $0.017 level. Currently, the crypto asset is up by 29,900% from its March 14 price, with a market capitalization of $978 million.
SUI holds above $1.50
Sui’s performance this week was not as remarkable as Solana and BOME, but it managed to withstand the bearish pressure relatively well.
The asset started the week on a positive note, experiencing a 9% rally from $1.5552 on March 11 to a high of $1.6970 on March 13, aligning with a broader market upsurge.
However, Sui encountered two days of significant bearish activity, leading to an 8% decline on March 14 and 15. This downturn caused Sui to fall below the crucial $1.50 price level, reaching a 10-day low of $1.3396 on March 15.
Nevertheless, a recovery effort initiated by the bears enabled the cryptocurrency to reclaim the $1.50 price level, propelling it to a new weekly high of $1.7200. Unfortunately, this upward momentum was short-lived as Sui faced another downturn triggered by the bears.
Despite the recent bearish activity, Sui has managed to remain above the $1.50 level. However, a sustained drop below this key level could lead to further price declines.
Overall, Sui is down by 1.71% for the week, reflecting its resilience against the bearish market conditions.