Bitcoin Was Muted, Dogecoin Spiked, But The Icing On The 'Cake' Last Week Was A 62% Rally In This Token

-0.32%

CLEARSHARES PITION INTERMEDIATE FIXED INCOME ETF

BTC

37.19

-0.32%

The cryptocurrency market was influenced by Bitcoin's (CRYPTO: BTC) stagnation last week, although certain coins staged remarkable gains.

What happened: CAKE, the token of the decentralized exchange PancakeSwap, topped the gainers’ list, returning a massive 62% to its holders in the last week.

The BNB Chain (CRYPTO: BNB)-based coin's growth was catalyzed by a sharp jump in trading volumes on PancakeSwap, worth over $27 billion over the last week, according to DeFiLlama.

S, the native token of the high-speed blockchain platform Sonic, was the second-most successful coin, surging 33% over the week. Proof-of-work cryptocurrency Kaspa rallied over 25% to bag the third spot.

Cryptocurrency	Gains +/-	Price
PancakeSwap (CRYPTO: CAKE)	+62.70%	$2.74
Sonic (S)	+33.56%	$0.5462
Kaspa (CRYPTO: KAS)	+25.98%	$0.1099

See Also: Brian Armstrong Wants To Handle Growing Volumes Of Memecoins By Adding DEXes Into Coinbase: ‘A Little Bit Like The Early Days Of The Internet’

Blue-chip coins like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) remained rangebound, gaining 0.98% and 0.81%, respectively.

XRP (CRYPTO: XRP) clocked double-digit gains of 11.55%, while Dogecoin (CRYPTO: DOGE) grew 6.17%, following the SEC's acknowledgment of their respective Grayscale ETF applications.

Other meme coins like Shiba Inu (CRYPTO: SHIB) traded flat, while President Donald Trump's Official Trump (CRYPTO: TRUMP) token lifted over 14%.

Overall, the total cryptocurrency market capitalization rose marginally by 0.9% over the week to $3.19 trillion.

Photo Courtesy: Akif CUBUK on Shutterstock.com

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