TRON (TRX) and Dogecoin (DOGE) Placed in This Prestigious Ranking: Details
TL;DR
- TRON was among the most talked-about crypto topics in the last week due to various potential reasons.
- AI-related cryptocurrencies and the GameFi sector also gained attention, with several tokens experiencing significant price increases over the same period.
Those Making the Biggest Waves
According to crypto analytics platform Santiment, the top 3 crypto social narratives that have created the most impression in the last seven days include bitcoin’s price, TRON, and Dogecoin.
The valuation of the leading digital asset passed through numerous ups and downs throughout that period. While BTC was worth less than $60,000 a week ago, it registered a substantial rally between August 23 and August 26.
Its uptick happened shortly after the Chairman of the US Federal Reserve, Jerome Powell, said the time for lowering the interest rates in the biggest economy has come. He stated that the exact timing and pace of the effort will depend on “incoming data, the evolving outlook, and the balance of risks.”
Following the announcement, BTC’s price crossed $62,000, continuing the uptrend in the next few days to reach almost $65,000. The positive performance could have been further fueled by Robert F. Kennedy’s decision to withdraw from the US presidential elections and endorse Donald Trump.
The former political leader of America has recently shown a pro-crypto approach, with many industry participants believing the sector would thrive should he emerge victorious after the elections this November.
However, BTC could not keep the momentum, plummeting to $58,000 several hours ago before rebounding to its current level of approximately $60K (per CoinGecko’s data).
TRON has also made the headlines, with the price of TRX – the native token of the blockchain protocol – soaring to a 40-month high of almost $0.17 on August 26. As CryptoPotato reported, the rally positively affected investors in the asset, with 100% of them sitting on paper profits at the time.
Another factor placing TRON in the spotlight might be the launch of thousands of meme coins on SunPump (a platform associated with Justin Sun that allows users to create tokens in minutes). The biggest coin of that type is currently Sundog (SUNDOG), whose market cap surpassed $250 million.
Dogecoin has not been involved in any breaking news in the last week, while its price has retraced by 3% during that period. However, it seems like the token remains one of the most popular topics in the crypto space.
This could be so because of its strong community, millions of investors, and high-profile endorsements in the past. Those following the industry’s developments must be aware that DOGE is the favorite cryptocurrency of Elon Musk, who often highlights its merits.
What Else Is on the List?
Artificial Intelligence (AI) and GameFi rounded up Santiment’s top 5 club. AI-related cryptocurrencies have performed quite well on a seven-day scale, with the prices of some of the leaders skyrocketing by double digits.
Artificial Superintelligence Alliance (FET), for example, exploded by almost 50%, reaching a local top of $1.47 on August 27. Currently, it trades at around $1.32, representing a whopping 550% increase since August 2023.
The GameFi niche has also witnessed a substantial resurgence. The biggest tokens of that type – Immutable (IMX) and Floki Inu (FLOKI) – saw their prices rise by 23% and 25% (respectively) in a week. Beam (BEAM), GALA (GALA), and ApeCoin (APE) are also up, albeit in a more modest fashion.
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