Investor interest in cryptocurrencies has shifted toward altcoins and meme tokens

According to new search trend data released on May 10, 2025, by Phoenix Group and CoinGecko, investor interest in cryptocurrencies has shifted toward altcoins and meme tokens.

According to new search trend data released by Phoenix Group and CoinGecko, investor interest has shifted toward altcoins and meme tokens, highlighted by the performance of tokens such as Purple Pepe (PURPE) and Chain (LINK).

The top spot for trading volume was taken by Sui (SUI), which processed $2.6 billion in transactions within 24 hours. Priced at $3.91, SUI recorded a 16.6% gain over the past week, making it the most actively traded token among the top trending assets. Bitensor (TAO) came in second, with a price of $444.26 and a market capitalization of $3.8 billion. TAO also saw a 22.7% weekly price increase.

Among the newer tokens, Purple Pepe (PURPE) recorded the largest percentage gain of the week. The token jumped 151.2% to reach $0.0096, reflecting strong speculative activity. Syrup (SYRUP) followed with a 63.2% gain, while Berachain (BERA) added 23.7% to its price during the same period.

Pudgy Penguins (PENGU), which is linked to an NFT collection, gained 23.5% and held a market capitalization of $874.9 million. Its inclusion among the top trending tokens reflects continued interest in NFT-associated crypto assets. Pi Network (PI) also performed strongly, rising 23.7% for the week and reaching a market cap of $484.5 million.

Some tokens on the trending list recorded smaller gains but remained in high demand across trading platforms. AI Companions (AIC) rose 8.1%, while Doodles (DOOOD) increased 1.1% during the same timeframe. Both tokens maintained notable trading volumes despite relatively stable price action.

Another token on the list, S Token (S), was among the most searched but did not have detailed trading metrics disclosed in the report. Its appearance still suggests elevated visibility and engagement among market participants.

Most trading activity for these trending tokens was confined to only three main platforms: Binance, KuCoin, and Gate.io. Most of the highest-performing token volumes transact through these exchanges, forming central venues for retail and institutional trading that week.