Why These Altcoins Are Trending Today — December 10

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As a seasoned analyst with years of experience observing the cryptocurrency market, I have seen my fair share of trends come and go. Today, we find ourselves looking at MAD, SHRUB, and MOVE – three altcoins that have managed to capture the attention of investors despite a generally sideways market.

Lately, the cryptocurrency market has been mostly stable rather than showing strong upward movement, indicating that investors are being cautious. Consequently, many popular altcoins aren’t seeing substantial price increases at this time.

As reported by CoinGecko, the most buzzworthy altcoins currently are MAD (previously known as MAD), SHRUB (SHRUB), and Movement (MOVE). Here’s a breakdown of what makes them so intriguing within the last 24-hour period.

MAD (MAD)

Leading among today’s popular altcoins is the community-focused project MAD. Unlike its entry to the list on November 25th, which was due to a substantial 73% price surge, the token’s worth has actually dropped over the past 24 hours.

Currently, the market value of MAD stands at approximately 0.000048 USD. However, its popularity is increasing because there’s ongoing interest in it within the wider market. From a technical perspective, the altcoin has tried to reach a new peak as a result of the formation of a V-shaped recovery pattern.

On the other hand, the day-to-day graph indicates a break in its validity. Therefore, should the decline persist, the cryptocurrency’s worth might plummet down to approximately 0.000031 dollars.

Conversely, should bulls successfully hold the $0.000045 level as support, there’s a possibility that the altcoin could potentially rise to $0.000080.

Shrub (SHRUB)

The alternative coin known as SHRUB, currently popular, has experienced a significant price decrease of over 15% in the last 24 hours. This project was inspired by Elon Musk’s pet hedgehog named “Shrub the Hedgehog.

Nevertheless, its value tends to rise due to the belief among some owners that Musk might comment on it, potentially leading to a price surge. At present, it’s trading at $0.059, and the four-hour chart indicates that the Relative Strength Index (RSI) has dipped below the 50.00 neutral level.

The decrease suggests a bearish trend for this token. If the RSI reading keeps falling, SHRUB’s price may drop to about $0.047. But if purchasing power rises, the direction could change, potentially taking the altcoin’s value up to around $0.086.

Movement (MOVE)

The altcoins trending list today will be incomplete without MOVE, the token of the Ethereum layer-2 token. MOVE is trending because the project just launched and airdropped some of its supply to its early users. 

Additionally, it’s worth noting that the surge in the altcoin’s popularity can be attributed to its recent listing on Binance. Consequently, the price of MOVE has risen by approximately 25% over the past day. However, an initial peak at $1.56 has given way to a current value of $0.81, indicating that some individuals who received the airdrop may be choosing to sell their coins.

If it persists, the price of MOVE may fall even more. But if there’s a surge in demand, this situation could flip, potentially causing the token to rise towards $2.

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2024-12-10 20:48