Why These Altcoins Are Trending Today — November 28

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As a seasoned researcher with years of experience in the dynamic world of cryptocurrencies, I’ve seen my fair share of market fluctuations and trends. Today, I find myself intrigued by the surge of altcoins challenging Bitcoin’s dominance.

In November, several alternative coins demonstrated their readiness to contest Bitcoin‘s (BTC) leadership position. Consequently, some of these digital currencies have found themselves among the most popular and dynamic investments.

Although surpassing Bitcoin isn’t the sole factor for these cryptocurrencies to be included in the list, BeInCrypto provides additional reasons in this analysis. Using data from CoinGecko, here are the top three altcoins seeing significant activity today, November 28: Thena (THE), Sui (SUI), and Just a Chill Guy (CHILLGUY).

THENA (THE)

As a crypto investor, I’m excited about the surge in value for Thena, the native token of the decentralized exchange on the BNB Chain. It’s one of today’s trending altcoins thanks to its impressive 130% price increase over the past 24 hours. Right now, a single Thena coin is going for $3.88.

This advancement in the project’s growth was further boosted by Binance‘s recent addition of the cryptocurrency to its platform. Prior to this event, the value of THE fluctuated between $0.15 and $0.50. Yet, it seems that the listing on Binance has attracted increased interest towards this altcoin.

Consequently, the level is rising too, and if both the level and the price keep going up, we may reach $5. However, should profit-taking become more prevalent, it might not materialize. Instead, the value could drop beneath $2.

Sui (SUI)

Similar to THENA, Sui has gained popularity among altcoins currently, thanks to a rise in its value. Yet, it’s crucial to mention that Sui did not mirror THE’s success. On the contrary, within the past 24 hours, Sui saw an increment of approximately 5%.

Although the altcoin is rising, the Money Flow Index (MFI) on its daily chart dips beneath the neutral zone. This index indicates the balance between buying and selling activity for the cryptocurrency.

When it rises, it means buying pressure in the present. However, since it has dropped in SUI’s case, it indicates selling pressure. Considering this current condition, the altcoin’s value might drop to $2.38.

However, should purchasing demand return, the current projection could become obsolete. Under such circumstances, it’s possible that the price of SUI could surge beyond $3.95.

Just a Chill Guy (CHILLGUY) 

As an analyst, I’ve been closely observing the cryptocurrency market, and one coin that has caught my attention is CHILLGUY. It seems to be following a trend similar to THENA. Intriguingly, just yesterday, Binance added the Solana meme token to its perpetual market, which triggered a momentary surge in the coin’s value.

Over the past 24 hours, I’ve observed a 16.40% decrease in the token’s price, indicating that it might have been a case of “buy the rumor, sell the news.” On a 4-hour chart, I notice a reduction in trading volume around the token. Given this trend, it seems plausible that the price could further decline, potentially reaching targets around $0.45.

Conversely, should there be another surge in interest for CHILLGUY, it’s possible that such an event may prevent the predicted decline, instead causing the price to potentially soar up to $0.70.

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2024-11-28 18:28