Crypto market’s weekly winners and losers – SOON, ICP, SPX, TAO

Key Takeaways

Which crypto tokens were the highest gainers this week?

SOON [SOON], Internet Computer [ICP], Filecoin [FIL] led the week in gains.

Which crypto tokens lost the most this week?

SPX6900 [SPX], Virtuals Protocol [VIRTUAL], Bittensor [TAO] saw significant declines.

The crypto market spent the week stuck in indecision.

Bitcoin’s [BTC] 100k consolidation stayed shaky. Ethereum [ETH] drifted sideways on low volume.

Overall, it was a week of choppy price action, light trading, and a wait-and-see mood.

Meanwhile, with the majors going nowhere, traders instead hunted for quicker wins in smaller, news-driven plays.

Weekly winners

SOON [SOON] – Promising alt surged with a triple-digit breakout

SOON [SOON] topped this week’s gainers chart with a staggering 185% rally. The bullish structure was already in place, but this week’s market dip seemed to trigger deeper allocation into the altcoin.

Initially, the week began with a 2.24% drop, extending its two-week consolidation below the $1 level. Such tight-range moves often indicate underlying accumulation, which can set the stage for a breakout.

Then, on the 5th of November, SOON triggered a 119% rally, closing at $1.60, which accounted for nearly 65% of the weekly gains.

Plus, with the RSI pushing deep into overbought territory, a sell-off seemed highly likely.

Source: TradingView (SOON/USDT)

Even so, the bearish momentum proved short-lived.

By the end of the week, SOON posted another 70%+ rally, registering two consecutive higher highs. This move reinforced the bullish structure, as the bulls actively defended key levels.

Looking ahead, if the trend persists, SOON could test the $2.50 resistance next. Meanwhile, the recent 10.85% intraday dip to $2.15 may act as a short-term cooldown, potentially flipping that level into support.

Internet Computer [ICP] –  Web project climbed back to Q1 levels

Internet Computer [ICP] emerged as the second biggest winner this week, surging 70%. This rally followed the launch of its AI platform, Caffeine, which immediately sparked a market frenzy.

However, it’s important to separate hype from reality to see if ICP can sustain the bull run. On the daily chart, it’s down about 20% after breaking $9, highlighting clear signs of capitulation.

At the same time, derivatives saw an $85 million influx following Caffeine’s news, putting longs under significant squeeze. Unless bids reappear, ICP’s weekly gains look more driven by hype than fundamentals.

Filecoin [FIL] – Storage token tests bull’s resilience after a solid rally

Filecoin [FIL] came in third this week with a 54% rally. Similar to ICP, FIL’s surge coincided with sector-wide momentum in the DePIN network ahead of DePIN Day on the 18th of November, sparking a frenzy. 

As AMBCrypto noted, derivatives activity jumped, with volume up 819% and Open Interest rising 115.8%, while 24-hour sell volume hit $88 million, suggesting FIL could target $2.4–$2.6. 

However, with back-to-back red candles erasing 25%+ of gains, bulls will need to establish a solid support level.

Otherwise, FIL could retrace toward $1.7 if selling pressure persists, testing the resilience of recent buyers.

Other notable winners

Outside the majors, altcoin rockets stole the spotlight this week. 

DeAgentAI [AIA] led the charge with a 568% surge, followed by Ore [ORE] jumping 395%, and Tomi [TOMI] rallying 268% to round out the leaderboard.

Weekly losers

SPX6900 [SPX] –  Synthetic index token broke a key support level

SPX6900 [SPX] topped this week’s losers chart with a 25% drop. Although the pullback was a part of a market-wide memecoin cooldown, SPX’s performance still stands out as the weakest among its peers.

Looking at the weekly chart, SPX has posted four consecutive lower lows, falling from $1.6 to $0.67 at press time, reflecting a bearish structure as bulls failed to defend key support, thereby triggering further selling. 

This week, the dip pushed SPX below the $0.80 floor, taking the memecoin back to mid-May levels. While spot buyers stepped in, the impact remains limited unless a solid support forms.

Source: TradingView (SPX/USDT)

That said, the odds do not favor the bulls.

Given that the broader market remains risk-off, memecoins are under pressure, and rotational flows are muted, a break below $0.60 could trigger a deeper pullback, potentially dragging SPX toward pre-April FUD levels.

Virtuals Protocol [VIRTUAL] – AI project reinforced resistance at a key level

Virtuals Protocol [VIRTUAL] came in second on the weekly losers chart, falling 20% from its $1.67 open. As an AI-focused coin, this performance in a risk-off market marks a key divergence from its past two weekly rallies.

Notably, after a 100% gain over the previous two weeks, this week’s 20% dip looks more like a reset phase. However, AMBCrypto tracked a whale shedding 26.42 million VIRTUAL tokens, which triggered this pullback.

Hence, the focus now clearly shifts to the bulls. 

With VIRTUAL testing the $1.9 resistance for the second time in three weeks, this rotation appears more like strategic exit. If bulls fail to break through again, further bleeding could follow for the next two weeks.

Bittensor [TAO] AI-focused blockchain saw a mass exit of traders

Bittensor [TAO] came in third on the weekly losers chart, dropping 20% to $360. Notably, this pullback wiped out nearly a month of gains, pushing the price back to mid-October levels.

On the daily chart, bearish structure is forming. 

Earlier in the week, a mid-week rebound attempt was crushed by sellers, which triggered an 8% drop on November 8 and failed to flip the $400 level into a solid floor for recovery.

Looking ahead, a breach of the $360 floor could trigger a deeper slide in the short term. Plus, with traders realizing gains from TAO’s $530 peak, bulls may struggle to absorb the pressure, leaving the downside exposed.

Other notable losers

In the broader market, downside volatility hit hard. 

Wilder World [WILD] led the losers with an 87% drop, followed by SEDA [SEDA] down 63%, and Paparazzi Token [PAPARAZZI], which slipped 49% as momentum sharply cooled.

Conclusion

This week was a rollercoaster. Big pumps, sharp dips, and nonstop action. As always, stay sharp, do your own research, and trade smart.