Crypto Market Swings Amid U.S. Political Uncertainty
The Essentials at a Glance
The past week once again brought strong fluctuations in the crypto market. While some tokens recorded double-digit gains, others suffered significant losses. Utility and meme coins in particular saw gains, while AI-based projects came under pressure. Political developments in the U.S. added to investor uncertainty.
Weekly Winners: Utility and Meme Coins on the Rise
AB (AB) – Strong Recovery with Potential for More
The utility token AB rose by 25.63% last week, reaching a one-month high of 0.0108 USD. More than half of this increase occurred on June 7 with a daily gain of 22%. Despite the rapid rise, the Relative Strength Index (RSI) remains below the overbought threshold, indicating further momentum. Trading volume also increased by over 77%. If demand continues, a retest of the 0.011 USD mark is likely.
SPX6900 (SPX) – Meme Coin Defies Resistance
SPX6900, a meme coin, posted a weekly gain of 22.97%, continuing its rally from the previous week. After rising to 1.13 USD at the beginning of the week, it saw a short-term pullback to 1.07 USD. However, buyers regained control and pushed the price to 1.18 USD. The 1.20 USD level is now in focus as the next resistance. Short-term fluctuations remain possible until a clear breakout occurs.
Sky (SKY) – Governance Token with a Volatile Week
SKY gained as much as 11.89%, temporarily reaching 0.10 USD – its highest level since December. However, the rise was followed by a pullback to 0.07 USD. This level is now being monitored as a critical support zone. If it holds, another attempt at the 0.10 USD mark could follow.
Other Notable Gainers
Beyond the well-known tokens, smaller altcoins made headlines. KLED AI (KLED) surged by 536%, BUILD On BNB (BOB) rose by 413%, and GIZA (GIZA) gained 235%. These movements reflect the continued interest in speculative low-cap projects.
Weekly Losers: AI Tokens Under Selling Pressure
DeXe (DEXE) – Sharp Setback After Recovery Attempt
DEXE lost 24.52%, falling to 10.66 USD after a massive drop of 31.95% at the start of the week – the largest daily loss in its history. Prior to that, DEXE had attempted to break out of a consolidation zone between 12 and 14 USD. The sudden reversal led to long liquidations and an RSI at a two-month low. A recovery of the 14 USD mark would be necessary to halt the downtrend.
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Jupiter (JUP) – DeFi Token Without Clear Support
JUP fell by 13.81%, closing at 0.44 USD. Previous recovery attempts failed repeatedly, indicating a lack of buyer interest. Since May, the price trend has shown no stable support. If this trend continues, a drop to 0.40 USD is likely.
Bittensor (TAO) – AI Token with Ongoing Downtrend
TAO declined by 10.97% to 370 USD. Since peaking at 500 USD in May, the token has marked three consecutive lower lows. Open interest in the futures market dropped by 9%, indicating a reduction in speculative positions. Without new momentum from institutional investors, the risk of a further drop to 330 USD remains.
Other Notable Losers
Smaller projects also suffered from market weakness: MinoTari (XTM) lost 39.2%, Collateralize (COLLAT) fell by 28.9%, and WalletConnectToken (WCT) dropped by 28.4%.
Our Assessment
The past week once again highlights how strongly political events and market sentiment influence the crypto sector. While speculative altcoins achieved significant gains, AI and DeFi tokens were particularly affected by selling pressure. For traders, this means opportunities and risks lie close together. Those investing should pay attention to technical signals and closely monitor the market environment. Utility tokens like AB or volatile meme coins like SPX offer short-term potential, while pullbacks in projects like DEXE or TAO may also present opportunities for rebound trades – provided clear support zones are defended.
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