Top Trending Cryptocurrencies in the Market This Week

With a new week, cryptos continue to change as the market condition swiftly changes. However, the popularity of cryptos is based on a number of factors and, of course, mostly on their ever-loyal fan base. This week, we have FLOKI, BabyDoge, MATIC, SHIB, and BTC which remained in the spotlight of the community as the top trending cryptocurrencies in the market.

Some of the factors that could affect a cryptos trend are market sentiment, use cases, government interference, news event and so much more. However, one should understand, the top cryptos trending in the market could change instantly and new tokens may stand out on the stage.

For now, let’s take a look at the top coins that are trending in the market for this week.

Floki (FLOKI)

Floki (FLOKI), self-proclaimed as the people’s crypto, started its journey as a meme coin named after Elon Musk’s favorite Shiba Inu pup. However, FLOKI started to grow and currently plays a vital role in Floki’s ecosystem as a utility token. The Floki ecosystem has expanded over time branching out into various sectors decentralized finance, NFTs, and the Metaverse. 

At the time of writing, FLOKI is currently priced at $0.00004331 witnessing a surge of 9.55% in 24 hours. Moreover, FLOKI remains in the first place as the most trending crypto within a seven-day timeframe on CoinMarketCap. It’s no surprise! FLOKI is one of the coins that is experiencing a three-digit hike of 268.76% in 30 days. 

FLOKI, which wanted to set itself apart from other meme coins, is working on a few flagship projects to prove its worth. Valhalla, an NFT gaming metaverse, is one of those projects which is part of their 2023 roadmap.

Furthermore, Floki also plans to launch a suite of decentralized finance products called the “FlokiFi.” Another project that the Floki ecosystem is in the process of introducing is FlokiPlaces. FlkiPlace, reportedly, is an NFT and merchandise marketplace for users. As FLOKI continues to grow, the Floki Vikings rally in support of their crypto project.

All these projects of FLOKI are focused on making it one of the meme coins that will have a utility value in its ecosystem.

Baby Doge (BabyDoge)

Standing just beside FLOKI, Baby Doge (BabyDoge) was created by the fans of the DOGE meme community. Baby Doge, as described on their website, is a deflationary token designed to become more scarce over time. One way Baby Doge does this is through its Auto Burn feature, which will burn the coin with each on-chain transaction.

Memecoin was often initially viewed as a joke by some communities, however, similar to FLOKI, BabyDoge has also utility that benefits the token holders. Another feature of Baby Doge is its Auto-Reflections. This feature will redistribute a 5% fee for each transaction to the token holders, thus, individuals can earn more coins by holding Baby Doge Coins in their wallets. 

Currently, Baby Doge Coin is priced at $0.000000003046 and is seated in the second position among the most trending crypto. BabyDoge also witnessed a hike of 3.20% and 153.80% in one day and 30 days. However, it did witness a fall of 27.11% in a week, at the time of writing.

BabyDoge has developed over the course of its operations. Baby Doge also boasts about this 5-second block speed. As a community-driven blockchain, BabyDoge has shown its generosity through its actions of donations across society.

Polygon (MATIC)

Polygon (MATIC) is definitely one of the top cryptos that are trending right now, securing itself the third position among the top trending cryptos on the CoinMarketCap. Known as Ethereum’s scaling platform, Polygon, previously known as MATIC network, allows developers to easily build scalable user-friendly dApps with low transaction fees without jeopardizing security.

Over the years, Polygon has been able to develop various projects and completely revolutionize the adoption of blockchain across various industries. Some of the well-known collaborations are with Instagram, Stripe, Addidas Originals, and Prada. Moreover, Polygon highlighted that over 37K+ dApps have used Polygon to scale their performance.

Polygon has been busy building different scaling solutions to make the ecosystem much more beneficial for developers and individuals alike. Polygon PoS, zkEVM, Edge, Miden, Sipernets, and Polygon Zero, and the scaling solution are tailored to meet specific demands.

MATIC is currently priced at $1.41, with a surge of 3.35% in one day and a 39.70% hike in 30 days. Polygon recently announced that they are laying off 100 employees and remains to be under the spotlight of the crypto community. Even though Polygon faces criticism from the community, the supporters are still optimistic about the future of this network.

Shiba Inu (SHIB)

Whoa! There are already three meme coins in the list. Yup, that’s true! Shiba Inu (SHIB) is also part of the top trending cryptos securing itself the fourth position. SHIB started its journey as a meme coin, earning itself a call sign “Dogecoin Killer,” however, currently branched out into different divisions such as Metaverse, NFTs, DAO, and many more.

As Shiba Inu is continuously building to evolve its ecosystem, it has come a long way and has also ranked in the top 20 cryptos based on its market cap. Currently, SHIB is priced at $ 0.00001331 with a surge of 4.49% in 24 hours. SHIB also witnessed a surge of 10.58% in 30 days, however, experienced a fall of 3.06%.

SHIB is continuously trying to develop and has recently introduced its Layer 2 Network, the Shibarium. Moreover, Shiba Inu explained their past projects the SHIBA Eternity, SHIB: The Metaverse, and more, in a recent blog, which reflects the future of SHIB to the public. As Shiba Inu had a long walk last year, the community still continues to be excited about the upcoming project of this ecosystem.

Read Also: Shiba Inu (SHIB) Price Prediction 2023-2030

Bitcoin (BTC)

There is no doubt why the king of cryptos (called by some community members), remains to be under this list. While some claimed that BTC may never break the $20K, the first-ever crypto almost reached the $25K mark. Even though BTC is in fifth place as the top trending crypto, it continues to remain number one based on its market cap.

Although earlier, BTC was below the $24K mark, it is currently priced at $24,391.72, experiencing a surge of 1.41% in 24 hours. Moreover, it observed a hike of 6.57% in 30 days with a market cap of $470,749,278,465. It can be observed that analysts are regularly observing BTC’s price movement, with some believing that BTC could reach beyond $30K by March.

Read Also: Bitcoin (BTC) Price Prediction 2023-2030

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk, Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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