Why These Altcoins Are Trending Today — November 25

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As a seasoned researcher with over a decade of experience in the dynamic world of cryptocurrencies, I can confidently say that this weekend’s market movements have been nothing short of intriguing. It’s like watching a roller coaster ride where some old favorites are making a comeback, while others struggle to keep up with the pace.

Over the recent weekend, various older cryptocurrencies experienced an unexpected resurgence, whereas many meme coins faced difficulties, except for a handful. Consequently, one established crypto has regained popularity among today’s top trending altcoins.

This transition has ignited a fresh wave of curiosity throughout the market, especially towards tokens that haven’t done well recently. As per CoinGecko, the three most popular altcoins currently are Gigachad (GIGA), Luckycoin (LKY), and MAD (MAD).

Gigachad (GIGA)

It’s worth noting that many meme coins faced difficulties last weekend. However, the reason GIGA is currently in focus isn’t because of a price surge; instead, its value has decreased by approximately 20% in the last week.

Nonetheless, GIGA is currently among the popular altcoins due to influential meme coin analyst Murad consistently recommending it as a top token to invest in. Furthermore, its recent drop has ignited debate within the market, leading some investors to believe that GIGA is at a robust accumulation stage.

Technically speaking, the 4-hour chart indicates that the Solana meme coin has been moving inside a downward sloping triangle. Although this pattern often signals a bearish trend, the token is approaching the support level at approximately $0.36.

As a crypto investor, if the price dips to this specific support level, there’s a possibility that the bulls will step in to defend this area. If they do, the value may rebound towards $0.055. But, if the price falls below this support line, GIGA could potentially drop as low as $0.031.

Luckycoin (LKY)

Today’s unexpected rise among the altcoins is Luckycoin (LKY). This venture was initiated back in 2013 and holds the distinction of being the first-ever meme coin, with Dogecoin (DOGE) originating as a spinoff from it.

Today, LKY is generating a lot of buzz due to its strong market performance. Currently trading at $13.90, it experienced a significant 65% rise in the last day alone and an astounding 420% growth over the past week. This swift upward trend seems to be driven by increased buying interest, considering that this altcoin has a very restricted total supply of merely 12.07 million coins.

Given the limited amount available for purchase, even slight demand can cause substantial price fluctuations. Yet, based on the one-hour graph, it appears that LKY’s price might experience a considerable decrease. This trend is primarily influenced by the decline in the Relative Strength Index (RSI) figure.

According to the chart displayed, the Relative Strength Index (RSI), a tool used to gauge momentum, has dipped below the 50-mark, suggesting potential downward movement for LKY. If this trend persists, LKY’s price might dip below $10. Conversely, if buying interest resurges, LKY could potentially rise towards $20.

MAD (MAD)

At the bottom of the list is MAD, a cryptocurrency that was previously highlighted in the trending altcoins analysis a week ago. This digital asset has made its way onto today’s list due to a remarkable price surge – it has risen by an impressive 73% within the past 24 hours and an even more stunning 332% over the last seven days.

The increase in both price and volume suggests a strong market fascination with MAD. At present, its value stands at $0.000045. Notably, the daily graphs demonstrate that the bulls have successfully kept the price from falling below $0.000036.

As the altcoin gains more momentum and builds up, it’s quite probable that it will ascend further. Should this occur, MAD might reach $0.000080. But if there’s a dip beneath the support level, this prediction could be called into question, and the token could plummet to $0.000032 instead.

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2024-11-25 17:01