This week has seen an uptick in trading activity across the digital asset market, with the global crypto market capitalization climbing 3% over the past seven days.
The momentum has spilled over into local markets, where several tokens have captured attention among Nigerian traders. On-chain data from the past 24 hours shows Portal To Bitcoin (PTB), CREPE, and PEPE as the three cryptocurrencies drawing the most visibility from that region.
Portal To Bitcoin (PTB)
Portal To Bitcoin launched its mainnet on September 3, and the value of its native token PTB has since rocketed. Trading at $0.0534 at press time, the altcoin is up nearly 25% in the past seven days alone.
PTB has logged 27% intraday gains amid today’s broader market rally. However, the altcoin appears poised for a pullback as its plummeting daily trading volume signals an uptick in profit-taking. This currently totals $122 million, falling by 32% in the past 24 hours.
When an asset’s price rises while trading volume falls, it indicates that the upward move is losing momentum. Rising prices with thinning volume suggest fewer buyers are willing to step in at higher levels, leaving the rally vulnerable to pullbacks.
For PTB, this divergence between price and volume implies that the recent 27% intraday gain may be driven by short-term speculation rather than sustained demand. If profit-taking continues to dominate, the token could struggle to hold on to its gains and face a potential pullback in the near term.
In this scenario, its price could plunge below $0.0476.
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On the other hand, if the bulls maintain dominance and demand strengthens, it could push PTB up above $0.0550.
CREPE
BNB-chain-based CREPE is another altcoin trending in Nigeria today. Trading at $0.00001011, the token has posted modest 3% gains in the past 24 hours.
Readings from its Elder-Ray Index indicate that buy-side sentiment is strong. The Elder-Ray Index measures the balance between bullish and bearish pressure by analyzing the difference between an asset’s exponential moving average (EMA) and the strength of bulls or bears in the market.
A positive reading, such as CREPE’s current 0.000002205, signals that buyers are in control, suggesting near-term upward momentum. This means traders are actively supporting it and pushing its price higher.
If buying activity remains elevated, CREPE could attempt a break above the resistance level of $0.00001167.
However, if profit-taking intensifies, the token risks losing its current gains and could revisit $0.000005500.
PEPE
The frog-themed Solana-based meme coin PEPE is another altcoin trending in Nigeria today. It currently trades at $0.00001060, holding above its 20-day exponential moving average (EMA) on the daily chart.
The 20-day EMA tracks an asset’s average closing price over the past 20 trading sessions, with greater weight given to more recent prices. When an asset trades above this indicator, it signals that bullish momentum is intact and that the market trend favors buyers.
If buying pressure remains high, PEPE could breach resistance at $0.00001070 and potentially soar toward the next key level at $0.00001269.
On the other hand, if demand weakens and profit-taking increases, the token’s price could decline toward $0.00000830.
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