The crypto market continues its bearish trend with Bitcoin dropping below $83,000. Certain altcoins, however, are surging. At last check, CoinGecko data shows Bitcoin ( BTC ) is down 4.4% over the last 24 hours. Source: CoinGecko Altcoins spike triple digits SafeMoon ( SFM ) has spiked 494.3% in the last 24 hours, reaching $0.00007107 from a low of $0.00001186. SFM 24H price chart SFM’s price movement appears connected to its recent token burns. The project announced on March 7 that it has burned over 7.95 billion and 7.70 billion SFM tokens. 🚀 Burn update! 🔥 Last two burns: 7,951,346,109.55 & 7,709,249,514.63 🔥 And a fresh update to the #VGXWallet from @VGXFoundation ! We like to call V4.1 "Deep Purple" 💜 Your new #SFM Solana token now has its updated icon 🎉 And a feature spotlight: Web3 Backup & Restore 💾🔁 https://t.co/cEqebff14m pic.twitter.com/OKmzVdQEnV — SafeMoon (@safemoon) March 8, 2025 The team has also rolled out two updates in quick succession. In a recent announcement, SafeMoon announced another major token burn of 8.68 billion and 8.41 billion SFM tokens. Additionally, SFM has updated its Solana ( SOL ) token with a new icon and spotlighted a Web3 Backup & Restore feature. You might also like: NFT sales surge 15.2% to $121m, CryptoPunks sales jump 500% Coming to the second gainer in the top gainers list, PWEASE token has jumped 215.4% over the past day. The coin has jumped to $0.02704 from a low of $0.006037. PWEASE 24H price chart Unlike SafeMoon, PWEASE doesn’t have any clear developments driving its price. The meme coin, recently launched on Pump.fun, appears to be experiencing the typical initial surge often seen with new meme tokens. Such sudden pump without fundamental backing usuallt leads to quick corrections, making PWEASE a high-risk coin despite its surge. VON, the native token of play-to-earn game VAMEON is third on the list. The token has climbed 74% in the last 24 hours, reaching $0.0002887 from $0.0001504. VON 24H price chart While there haven’t been major announcements from the VON team, the steady improvements to VAMEON gameplay have helped ramp up the player interest. The token has seen major growth over a longer timeframe, surging more than 800% in the past 30 days. Despite these isolated success stories, overall crypto market sentiment remains cautious. Bitcoin continues to face selling pressure below $85,000, dragging most major altcoins down with it. The global crypto market is down 1.24% to $2.8 trillion at press time. Read more: ‘I’m convinced she’s still alive’: Where is OneCoin’s Ruja Ignatova after 8 years in silence
