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

The global cryptocurrency market cap experienced a significant boost, gaining $140 billion and surging by 6.3%, closing the week at a two-month high of $2.35 trillion.

Bitcoin (BTC) led the charge, surpassing $68,000 and igniting a rally across the altcoin market.

Here’s a closer look at some of the assets that took advantage of this market recovery and how they performed:

DOGE records seven straight intraday gains

Dogecoin doge 2.09% was one of the biggest beneficiaries of the market recovery last week, recording seven consecutive days of gains throughout the week.

The dog-themed meme coin, Dogecoin (DOGE), ended the week at a four-month high of $0.144, posting a 27% gain. This marked Dogecoin’s strongest weekly performance since late February, during the broader meme coin rally.

However, the recent uptrend faces a potential obstacle, as the Dogecoin CCI (Commodity Channel Index) surged to 247. Should bearish pressure emerge this week, DOGE will need to maintain support above $0.137 to avoid a drop toward the 20-day SMA (Simple Moving Average) support at $0.116.

APE spikes 54% on mainnet launch

Despite underperforming throughout last week, ApeCoin ape 63.16% engineered a last-minute rally that saw it close the week at $0.87 amid a 20% gain.

This upsurge was mainly due to the mainnet launch of ApeChain, the project’s blockchain, yesterday.

After surpassing $0.92, ApeCoin (APE) encountered significant resistance at the upper Bollinger Band yesterday. However, the uptrend resumed at the start of the new week, with APE surging 54% to break the $1 mark for the first time in four months.

At present, ApeCoin’s RSI (Relative Strength Index) has surged into overbought territory at 85, signaling that the rally may face exhaustion without continued buying pressure. A decline below $1 could trigger a deeper pullback, potentially leading to sharper declines.

DIA hits 32-month peak

DIA (DIA) began the week bearish, but recovered to outperform most assets. After a mixed performance, DIA spiked by a massive 42% on Oct. 17, reclaiming $1 for the first time in two years.

After a 8% correction the following day, DIA resumed its upward momentum, posting another 14% gain on Oct. 19. This propelled the token to close the week with a 44% gain, reaching levels not seen in the past 32 months. Its monthly volume surged to 716 million DIA, marking the highest level in the token’s history.

Meanwhile, the +DI indicator rose to 40.28, signaling strong bullish momentum. The ADX at 50.19 further emphasizes the strength of the current rally. However, such a high ADX also suggests that the rally may be overextended, raising the possibility of a correction in the near future.