YEREVAN (CoinChapter.com) – Despite Bitcoin’s recent rally, the top three altcoins beat BTC gains this week. Bitcoin reached over $44,800 on Feb 8, after a 6% uptick in the previous 4 days, but altcoins Doginphire (FIRE), Dymension (DYM), and Heroes of Mavia (MAVIA) pushed ahead to beat Bitcoin’s uptick in the last seven days.
#1 Altcoin Doginphire (FIRE) Surged 7,500% to Beat Bitcoin’s Gains
Although, memecoins can have fast declines, they can also be quick to show gains. Doginphire, a new Solana-based memecoin, exploded over 7,500% in the previous week, reaching $0.041 on Feb 8. As CoinChapter noted in the previous FIRE review, the token’s trading volumes have not slowed in the last two days.
As of Feb 8, trading volumes for Doginphire reached $11 million, doubling from the day prior. Should the euphoria around the coin continue, FIRE bulls could pull off another leg up before a correction.
#2 Dymension (DYM) – Second Altcoin to Beat Bitcoin Rally
Dymension (DYM) recently announced an Airdrop campaign, with a plan to deliver tokens to over a million users. The marketing move looks like it was effective as the DYM price continued to rally, packing on 24% on Feb 8, reaching $7.12. As the week comes to and end, the coin’s gains stand at 70%.
However, as seen in the chart below, DYM’s trading volumes fell parallel to the price increase on Feb 8, indicating possible manipulation by a small number of players in the market.
Dymension announced that its airdrop, dubbed the “genesis roll drop” by the project, aims to disburse 70 million DYM tokens to support its ecosystem’s growth and engage the community. The airdrop included Ethereum L2 users, Cosmos, Celestia, Solana participants, and NFT holders.
The eligibility for the Dymension airdrop hinged on specific criteria, such as having staked TIA, ATOM, stATOM, and OSMO by Dec 19, 2023, and holding at least 1 SOL on Solana protocols. Additionally, NFT holders of selected projects also received airdrops.
#3 Heroes Of Mavia (MAVIA) Jumps 20% In a Week
Despite the 12% downward correction on Feb 8, the MAVIA token still managed a 20% uptrend in the previous week. As a result, the MAVIA price stood at $3.46 ahead of the New York session. Meanwhile, the trading volumes also fell over 57% in 24 hours, which could indicate market manipulation similar to Dymension’s.
“Heroes of Mavia” is a blockchain-based game that incorporates elements of strategy, collectibles, and player-owned economies. It’s part of the “play-to-earn” genre of games where players can earn rewards in the form of cryptocurrency or NFTs through gameplay.
In “Heroes of Mavia,” players typically manage and develop their own bases, recruit heroes, and engage in battles with other players. The game utilizes NFTs to represent unique heroes, land, and other in-game assets, allowing players to own, buy, sell, and trade their assets on the blockchain.
