Altcoin Gainers for the first week of October 2024

As we head into October and Q4, the markets have started to recover, bringing gains for many crypto assets, some altcoins and even setting new all-time highs.

BeInCrypto analyzed the three best performing altcoins over the past seven days, which include Solana meme coin POPCAT, which made a new ATH this week.

FTX Token (FTT)

FTX's native token FTT surprised the market by outperforming every major altcoin in the top 100 cryptocurrencies. FTT is up 95% in a week and is currently trading at $2.72. This remarkable development has attracted the attention of traders and investors.

The rally was mainly driven by rumors that payment to creditors had begun. With the distribution plan hearing scheduled for October 7, the bullish sentiment is expected to continue, which could lead to further price increases.

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If momentum continues, FTT could rise to $2.98. However, if the token continues to decline, it could see a drop to $2.54 or $2.20, making investors wary of potential risks.

POPCAT

POPCAT price hit a new all-time high this week, rising 31% in the last 24 hours. This Solana-based meme coin broke the $1.00 resistance, setting a new ATH at $1.29 after struggling to breach that level during the week.

The cause of this sudden rally is unclear, but if POPCAT holders avoid selling, the coin may continue its upward march. This can lead to the formation of a new ATH, increasing market sentiment.

However, if profitability does occur, it may halt the momentum. A drop to $1.00 could follow, and a loss of this key support level would devalue the current bullish outlook.

Wormhole (W)

Wormhole's price didn't see explosive gains like other tokens, but it still impressed with a 14.8% increase. Currently at $0.34, the altcoin has caught the attention of investors.

Wormhole neared a weekly high of $0.42 but fell back at $0.35 resistance. This barrier has remained intact since mid-July, and a breach of it could lead to a further rise to the $0.42 mark.

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A test of $0.42 would make it a near four-month high as resistance. However, if the Wormhole fails to break $0.35, it may remain firm between $0.28 and $0.35, devaluing the breakout view.