February 9, 2025
Meme Coin

DOGE, APE, DIA: Top cryptocurrencies to watch this week

The global cryptocurrency market cap surged by $140 billion, climbing 6.3% to close the week above a two-month high at $2.35 trillion. Bitcoin (BTC) led the charge, breaking through $68,000 and sparking a rally across the altcoin market.

Here’s a breakdown of some standout performers:

Dogecoin (DOGE) Logs Seven Consecutive Gains

Dogecoin was one of the top beneficiaries of last week’s recovery, posting seven straight days of intraday gains. The meme coin closed the week at $0.144, marking a four-month high and gaining 27%. This was its best weekly performance since February, during the broader meme coin market rally.

However, Dogecoin’s uptrend faces a potential reversal, as its Commodity Channel Index (CCI) spiked to 247, signaling overbought conditions. To avoid further losses, DOGE must hold above $0.137; otherwise, it risks dipping to its 20-day simple moving average (SMA) support at $0.116.

ApeCoin (APE) Spikes 54% on Mainnet Launch

Despite a slow start last week, ApeCoin rallied late, closing at $0.87 with a 20% gain. This surge was largely driven by the highly anticipated mainnet launch of ApeChain, the project’s proprietary blockchain.

ApeCoin continued its ascent into the new week, soaring 54% to surpass the $1 mark for the first time in four months. However, APE’s relative strength index (RSI) has reached 85, indicating that the token is in overbought territory. If buying pressure doesn’t sustain, a drop below $1 could result in a more significant pullback.

DIA Hits 32-Month Peak

DIA (DIA) started the week on a bearish note but ended up outperforming most other assets. On October 17, DIA surged by 42%, reclaiming the $1 level for the first time in two years. Despite an 8% correction the following day, DIA regained momentum, adding another 14% on October 19. This helped the token close the week with a 44% gain, hitting a 32-month high.

DIA’s trading volume also skyrocketed, reaching a monthly high of 716 million DIA—the highest in its history. The token’s +DI surged to 40.28, confirming strong bullish momentum, while its Average Directional Index (ADX) reached 50.19, suggesting the rally is particularly robust. However, this strength could also signal that the rally is overextended, potentially leading to a correction soon.