Top Crypto Gainers May 3: Arweave (AR), Bonk (BONK), Pepe (PEPE)

In the last 24 hours, the crypto market has been trying to recover after a bearish rally dipped the total market capitalization to $2.17T earlier this week. However, today, a resurgence has been observed, with the market capitalization up 2.19% to $2.2T and the fear and greed index rising to 49 compared to yesterday's 47. During this upturn, the top three gainers according to CoinMarketCap are Arweave (AR), Bonk (BONK), and Pepe (PEPE). 

Arweave (AR)

After finding support at the intra-day low of $28.83, Arweave bulls seized the market control, pushing the price to an intra-day high of $36.06 before facing resistance. This ARUSD price surge is attributed to Coinbase adding support for Arweave perpetual futures on its Advanced Trading Platform, boosting investor confidence in the project's long-term potential. 

Consequently, at press time, ARUSD was changing hands at $34.98, a 20.33% surge from the support level. This rally was accompanied by a rise in market capitalization and 24-hour trading volume of 20% and 19.24%, respectively, to  $2,286,429,927 and $194,144,129. 

AR/USD 24-hour price chart (source: CoinMarketCap)

If the bullish momentum breaches the $36.06 resistance, the next resistance levels to watch for are $38.50 and $40. However, if a pullback occurs, the support levels to monitor are $32 and $30.50. 

Bonk (BONK)

In the last 24 hours, Bonk's (BONK)  bullish momentum has had the upper hand, and as a result, it has managed to come in second on the top gainers list. During the rally, BONK's price has swayed between an intra-day high and low of $0.00002689 and $0.00002253, respectively. The trading volume has also seen a significant increase, reaching $524,241,081 after a 31% surge. 

Concurrently, BONK's market capitalization surged by 15% to $1,729,641,343, reflecting increased investor confidence. If the bullish momentum breaches the $0.00002689 resistance, the next resistance levels to watch for are $0.000028 and $0.000030. 

BONK/USD 24-hour price chart (source: CoinMarketCap)

However, if the bullish momentum wanes, investors should be prepared for a potential pullback to the $0.00002253 support level. This price action may present a buying opportunity for those looking to enter the market at a lower price point. 

Pepe (PEPE)

Pepe (PEPE) is also showing signs of bullish momentum, with its trading volume increasing by 18% to $1,238,696,024 and market capitalization soaring by 10% to $3,250,415,652. This surge in trading volume and market capitalization indicates growing interest and investment in Pepe (PEPE) as a potential opportunity for investors seeking to capitalize on its upward trend. 

Moreover, under the bullish trend, the PEPE price has swayed between an intra-day high and low of $0.000008028 and $0.000006896, respectively, showing strong volatility in the market. This could present both risks and opportunities for traders looking to profit from short-term price movements in Pepe (PEPE). 

PEPE/USD 24-hour price chart (source: CoinMarketCap)

If the bulls manage to breach the $0.000008028 resistance, the next resistance level to watch for would be around $0.00001, potentially offering further upside potential for investors. However, if the bears regain control, the support level to monitor is at $0.000006896, which could signal a potential downtrend in the price of PEPE.