Again, the trending altcoins today have tokens that thrive with the narrative of meme coins. This data, obtained from CoinGecko, is a bit different from recent days when some utility altcoins were on the list.
However, it is important to note that these tokens evolve for literally different reasons. That said, the top three altcoins trending today include Bonk (BONK), Chill Guy (CHILL GUY), and Peanut the Squirrel (PNUT).
Bonk (BONK)
BONK is among the trending altcoins today, largely because it is one of the few coins in the top 100 with a positive feedback in the last 24 hours. During this period, the price of BONK increased by 13% and is currently trading at $0.000056.
On the daily chart, BONK price has moved above the major exponential moving averages (EMA). As seen below, the 20-day EMA (blue) and 50-day EMA (yellow) are below the value of the altcoin.
The EMA is a widely used technical indicator for assessing trends. When an asset’s price is above the EMA, it generally indicates bullish momentum, suggesting that the asset could continue to rise. Conversely, when the price is below the EMA, it often indicates bearish momentum, implying that the price could move lower.
It is therefore probable that BONK could continue get up. If so, the price could rise to $0.000061. On the other hand, if selling pressure increases and bearish sentiment increases, it could fall below $0.000045.
Chill Guy (CHILLGUY)
Second on the list of altcoins The current trend is Chill Guy, a coin. CHILLGUY is trending because of its performance. Over the past 24 hours, the token has increased by 800%, making it one of the best performers among the top 300 cryptos.
While the token initially soared to $0.28, profit-taking pushed the price down to $0.24. If this continues, the price of CHILLGUY could fall further.
However, traders must be vigilant. Should increased purchasing pressurethis trend could change. In this scenario, the meme coin’s value could surge above $0.28 to reach a new all-time high.
Peanut the Squirrel (PNUT)
PNUT is also on the list of trending altcoins today, and for those who have been following this analysis, it is no stranger to it. However, unlike previous eras, PNUT is not trendy because a significant increase in prices.
However, even though the price has fallen, there is still significant interest from the broader market. With the chart below showing declining volume, the value of PNUT will likely decline to $1.44.
On the other hand, if the same coin experiences a significant increase in trading volume, this trend could change from bearish to bullish. If this happens, PNUT could reach $2.01.
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