It’s Boxing Day, and the total crypto market cap has dropped by 4.60%, impacting both Bitcoin (BTC) and altcoins. Despite this, two of the three trending altcoins, according to CoinGecko, have seen double-digit price jumps.
As of today, December 26, the top trending cryptos include Tema (TEMA), Pudgy Penguins (PENGU), and RabBitcoin (RBTC).
Tema (TEMA)
Yesterday, being Christmas, saw TEMA become a trending altcoin as its price increased. As of this writing, it is trending again because of the rising volume around it, having seen a 20% price increase in the last 24 hours.
TEMA’s price is $0.060, as BeInCrypto has predicted lately. From a technical perspective, the volume around the cryptocurrency continues to rise. If this trend continues, the token’s value could move to $0.065 in the short term.
Should the volume continue to rise, then TEMA’s price could climb much higher and jump toward $0.10. However, if selling pressure rises, this might not be the same. Instead, the meme coin’s value could decline to $0.043.
Pudgy Penguins (PENGU)
Pudgy Penguins (PENGU), which launched this month, is trending for a noteworthy reason — it has become the Solana meme coin with the highest market capitalization. As of this writing, its market cap stands at $2.54 billion, surpassing that of Bonk (BONK) and Dogwifhat (WIF).
This flip occurred due to their respective price performances. While WIF and BONK saw a 6% drop, PENGU’s price surged by 15.70% in the last 24 hours.
On the 4-hour chart, bulls are defending the support at $0.037. If sustained, then the altcoin’s value could rise above $0.43 in the short term.
However, if bears tug the price below this support, that might not happen. Instead, the cryptocurrency’s value might decline to $0.029.
RabBitcoin (RBTC)
Unlike the other two trending altcoins, RabBitcoin is the only one with a price decline in the last 24 hours. During this period, RBTC’s price decreased by 7.50% due to sell-offs around the altcoin.
On the daily chart, the token trades within a descending triangle. A descending triangle is a bearish chart pattern in technical analysis characterized by two trendlines. The first descending upper trendline slopes downward as price action forms lower highs.
The second one is a flat horizontal lower trendline that represents a support level that the price tests multiple times. Since RBTC’s price has failed to rise above the upper trendline, it suggests that the altcoin’s price might decline to $0.0000029.
On the flip side, RabBitcoin’s price might bounce if bulls push the altcoin above the upper trendline. In that case, RBTC could rally toward $0.0000014.
The post Why These Altcoins Are Trending Today — December 26 appeared first on BeInCrypto.