The altcoins that soared this week: investment opportunity or short term bubble?

Despite the widespread correction wave across the crypto market, some altcoins have still made strong breakthroughs this week, with SPX, WBT, and HYPE leading the list of impressive growth. Notably, SPX has surged over 100% in just 30 days, solidifying its position as one of the most prominent meme coins today.

WhiteBIT Token (WBT) has also attracted attention as it has just established a new historical peak at the threshold of $38 — a signal indicating that strong buying power is still present, despite the overall downtrend of the crypto market. Meanwhile, HYPE continues to strengthen its position in the derivatives market (perpetuals), trading close to the record high and officially placing its market capitalization among the Top 10 largest cryptocurrencies in the world.

SPX6900 (SPX)

SPX is asserting its position as one of the most prominent meme coins recently, with an impressive growth of nearly 102% over the past 30 days, including an additional breakout of 28% just in the past week.

With a market capitalization of 1.34 billion USD and a 24-hour trading volume reaching 138 million USD, SPX is no longer just a "fun" name – it has become a real player in the world of meme coins, where high speculation often comes with enormous market appeal.

The SPX/USDT chart on the 4-hour timeframe | Source: TradingViewTechnically, the trend structure of SPX is still maintaining a positive signal as the short-term exponential moving averages (EMA) continue to stay above the long-term moving averages. However, the gap between these lines is gradually narrowing – a sign that the upward momentum is slowing down.

In this context, the support area at the $1.22 level becomes particularly important. If it is breached, SPX could face a deeper correction towards the $0.99 area, even $0.90 – levels that the bulls need to be especially cautious about.

On the contrary, if the market sentiment remains enthusiastic and the trading volume continues to increase, SPX could completely revisit the resistance zone of $1.74 – and if it breaks through successfully, this coin could open up a new attractive growth cycle.

WhiteBIT Coin (WBT)

WhiteBIT Token (WBT) has made a special mark by breaking the overall downtrend of the crypto market, establishing a new historical peak at $38. With a 13% increase in just the past 24 hours and a total of nearly 23.5% over the week, WBT is becoming the center of attention, proving its impressive rebound along with a strong wave of interest from investors.

The WBT/USDT chart on a 4-hour timeframe | Source: TradingViewIn the context of the crypto market still experiencing significant fluctuations, the current upward trend of WBT is seen as a positive signal. If the buying pressure continues to remain stable and market sentiment gradually improves, this token could very well aim for the next psychological milestones at $40, or even $45.

However, analysts still recommend maintaining caution in the short term. The important support level at $32.22 currently plays a key role in preserving the upward trend. If this level is breached, the risk of a deep correction to the $30.86 area cannot be ruled out.

Hyperliquid (HYPE)

HYPE – the native token of the Hyperliquid trading platform – is maintaining an impressive breakout trend as it continuously fluctuates near its historical peak. In recent days, HYPE has stabilized around the $40 mark, after reaching a peak of nearly $44.

In just the past 30 days, the price of HYPE has increased by nearly 64%, enough to place it in the Top 10 cryptocurrencies by market capitalization, excluding stablecoins and wrapped assets. This surge clearly reflects the dominant strength of Hyperliquid in the perpetual contracts market, where the protocol currently holds up to 76.9% market share – a significant increase from 63.7% in December 2024.

The HYPE/USDT chart on the 4-hour frame | Source: TradingViewFrom a technical perspective, HYPE is still maintaining a strong upward momentum, driven by the listing news on Binance US and speculation surrounding the possibility of being listed on the global Binance exchange.

If the positive trend continues, HYPE may soon surpass the $45 threshold. However, in a bearish scenario, losing the support level of $38.2 could pull the price back down to the $32.63 range.

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