• Bitget Token, Virtuals Protocol, and Pudgy Penguins stole the spotlight as the week’s biggest winners.
• Fantom, Hyperliquid, and Ondo faced the toughest blows as the biggest losers.

In this week’s crypto market review, Bitget Token [BGB] dominated for the second week in a row, surging by an impressive 87.99% to claim the top spot.

Virtuals Protocol [VIRTUAL] and Pudgy Penguins [PENGU] followed closely behind.

On the flip side, Hyperliquid [HYPE] dropped into the losers’ list, while Fantom [FTM] emerged as the biggest loser of the week. Ondo [ONDO] also faced a tough week, experiencing a significant double-digit decline.

Biggest winners

Bitget token [BGB]

Bitget Token [BGB] surged 87.99% this week, making a strong move into high-cap territory. It began the week with a 3% rise, closing at $4.301, and maintained consistent growth, hitting $7.700 at the time of writing. 

The surge pushed its market cap past $10 billion, moving it from a mid-cap to a high-cap token. However, the real test may be approaching. 

After reaching an all-time high of $8.50, BGB pulled back 7% in a single day, with the RSI nearing 100 – signaling overbought conditions and potential profit-taking ahead.

What’s particularly impressive is that this surge occurred during a broader market downturn. Investors seem to be favoring mid-cap tokens like BGB over the larger, riskier altcoins.

This shift gives BGB an edge moving into next week. Early signs show a renewed upside, with BGB already up 2% at the start of the trading day. Still, in the week ahead, volatility is expected. Tread carefully.

Virtuals Protocol [VIRTUAL]

Virtuals Protocol is leading the charge in the A.I. boom, and its price is showing it. To start the final week of the year, VIRTUAL surged 30% in a single day, sparked by a historic milestone.

On top of that, its market cap reached the $3 billion mark.

Despite some daily fluctuations, VIRTUAL continues to post new all-time highs, reaching $3.70 as of now. With a 7% jump in the last 24 hours and a bullish MACD crossover, expect more upside in the week ahead.

Pudgy Penguins [PENGU]

Pudgy Penguins [PENGU], launched right before the December 18 FOMC rate cut, is still holding strong.

This week, it surged 32%, claiming the third spot among top gainers. In fact, it stood out as the only memecoin in the top 20.

The week kicked off with a 16% daily surge, opening at $0.040 and riding a bullish uptrend for three days. A strong Christmas rally pushed 24-hour trading volume to $1 billion, reflecting robust buying momentum.

This momentum propelled PENGU’s market cap past $2 billion, overtaking dogwifhat [WIF] to become the 5th largest memecoin.

However, questions linger as PENGU now trades at $0.035, below its opening-week price. Additionally, despite impressive gains, it has yet to reclaim its $0.050 launch day high.

Top 1,000 gainers

Outside the top 100, this week’s top gainer, DOGO [DOGO], surged by over 3,690%.

The second and third-largest gainers were StakeCubeCoin [SCC] and Black Phoenix [BPX], with over 1,364% and over 643% increases, respectively.

Biggest losers

Fantom [FTM]

Fantom [FTM] had a rough week, leading the losers with an 18.78% drop. The token has been in a steady decline since hitting $1.50, a high it hadn’t seen since March.

While its pullback aligns with the broader market crash, FTM’s losses were notably sharper. Now trading at levels last seen a month ago, it has erased all gains from November’s bullish cycle.

The RSI painted a slightly bullish picture, hovering at levels historically linked to reversals. However, with ongoing volatility, predicting a rebound is tricky.

Though trading volume increased by 11%, signaling some activity, a strong bottom might still be forming. It’s shaping up to be a critical week for FTM – proceed with caution.

Hyperliquid [HYPE]

HYPE had a volatile week. Just last week, it was in the top 3 gainers, closing at $28.90. However, it began this week with an 11% drop, signaling massive profit-taking.

However, a deeper pullback seems unlikely. Despite the volatility, the price is holding strong above $27, thanks to a bullish 24-hour trend.

Its market cap is up 7%, nearing $10 billion, marking a shift from mid to high cap. This consolidation is a positive sign, with bulls likely keeping bears at bay. A bullish week ahead.

Ondo [ONDO]

Ondo [ONDO] faced a sharp decline this week, dropping 13% and becoming the third-highest loser. Like FTM, ONDO has been on a steady decline since Bitcoin’s crash.

While it opened the week on a positive note with a 4% daily rise, the bearish pressure soon took over.

Half of November’s gains have been erased, with ONDO dropping back below $1.50, a key support level. However, its volume is up 30%, and ONDO is showing positive signs across various metrics.

If this trend continues into next week, ONDO could be poised for a potential reversal.