đ Biggest Altcoin Gainers of the Third Week of October 2024
The biggest movers include Dogecoin (DOGE), Worldcoin (WLD), and Ethena (ENA).
đžDogecoin (#DOGE )
Dogecoin led the biggest altcoin gainers with the highest price increase, surging by 31.60% this week. One key driver behind this rally was the activity of crypto whales. At various points during the week, these whales accumulated large amounts of DOGE, creating significant buying pressure that boosted the coinâs value.
Tesla CEO Elon Musk also played a key role in Dogecoinâs surge. Throughout the week, Musk, a vocal supporter of Donald Trumpâs presidential ambitions, repeatedly mentioned the potential creation of a Department of Government Efficiency (D.O.G.E) if Trump wins the presidency.
đž Worldcoin (#WLD )
Worldcoin is second on the list of the best performing altcoins. This week, WLD posted 27.30% gains, driven by increasing interest from investors. The surge in Worldcoinâs price can be attributed to its rebranding to âWorldâ and the launch of a Layer-2 called âWorld Chain.â
As of this writing, Worldcoin is trading at $2.50, though it remains 79% down from its all-time high. The recent price rise followed strong support at $2.10, where bulls defended the level, signaling confidence in the asset. Additionally, the increase in the Relative Strength Index (RSI) reflects growing bullish momentum, further supporting the upward movement.
đž Ethena (#ENA )
Ethena has emerged as one of the biggest altcoin gainers this week, primarily due to the launch of its synthetic-dollar protocol, USDe, on the Solana blockchain. This development has driven ENAâs price up by 24.30%, bringing it to $0.41.
On the daily chart, the Moving Average Convergence Divergence (MACD) indicator has turned positive, signaling bullish momentum. A positive MACD indicates that the price may continue to rise. If this momentum is sustained, ENA could potentially reach $0.70 in the short term.
