Why These Altcoins Are Trending Today — December 26

by

As a seasoned crypto investor with a knack for spotting trends and navigating market volatility, I find myself intrigued by today’s landscape. The total market cap drop is disheartening, but the resilience of certain altcoins like Tema (TEMA), Pudgy Penguins (PENGU), and RabBitcoin (RBTC) is a testament to their potential.

Today is Boxing Day, and the combined value of all cryptocurrencies has decreased by 4.60%. This dip affects both Bitcoin (BTC) and other alternative coins, or altcoins. However, two out of the three trending altcoins, as listed on CoinGecko, have experienced double-digit increases in their prices.

Currently, on December 26, the most popular digital currencies are Temas (TEMA), Pudgy Penguins (PENGU), and Rabbitcoins (RBTC). These are currently gaining traction in the crypto market.

Tema (TEMA)

Yesterday, on Christmas Day, I observed TEMA gaining popularity as an altcoin due to a surge in its price. At present, it’s trending once more, primarily driven by an uptick in trading volume. Over the past 24 hours, I’ve noticed that its price has risen by approximately 20%.

Currently, TEMA’s price stands at $0.060 based on recent predictions by BeInCrypto. Looking at its technical aspects, there’s a growing volume associated with this cryptocurrency. If this upward trend persists, we might see the token’s value climbing to around $0.065 in the near future.

As an analyst, I find myself observing a potential trend for TEMA. If the trading volume persists in its current upward trajectory, it’s plausible that the price could escalate significantly, potentially reaching around $0.10. Conversely, if selling pressure intensifies, this positive outlook may not materialize. In such a scenario, the value of this meme coin could experience a downturn, possibly dropping to approximately $0.043.

Pudgy Penguins (PENGU)

Recently launched Pudgy Penguins (PENGU) is making headlines for an impressive feat – it currently boasts the highest market capitalization among Solana meme coins. At present, its market value is estimated at a staggering $2.54 billion, outranking both Bonk (BONK) and Dogwifhat (WIF).

Over the past day, while the prices of WIF and BONK decreased by 6%, an increase of 15.70% was observed in the price of PENGU.

On a 4-hour timeframe, buyers are maintaining the price floor around $0.037. If this hold, there’s potential for the cryptocurrency’s value to climb higher than $0.43 in the near future.

Should bears manage to pull the price beneath this support level, it could lead to a different scenario. In this case, the cryptocurrency’s worth may potentially drop down to $0.029 instead.

RabBitcoin (RBTC)

Amongst the three popular alternative cryptocurrencies currently trending, Rabbitcoin stands alone as the only one experiencing a drop in value over the past 24 hours. Specifically, Rabbitcoin’s price has dipped by approximately 7.50% during this timeframe due to increased selling activity surrounding it.

On the day-to-day graph, the token is trading inside a downtrending triangle. This triangle is considered a pessimistic chart formation in technical analysis. It consists of two lines: the first, a downward-sloping trendline, is drawn connecting the higher low points where the price fails to reach previous highs.

The second line, running horizontally and flat, is a trendline serving as a support level where the price repeatedly tests. Since the price of RBTC has been unable to surpass the upper trendline, it implies that the altcoin’s value may decrease to $0.0000029.

From my perspective as an analyst, should the bulls manage to propel RabBitcoin above its upper trendline, it could potentially trigger a surge in its price. If this occurs, RabBitcoin might ascend towards approximately $0.0000014.

Read More

2024-12-26 20:18