With the total crypto market cap holding above $3 trillion, the list of top altcoins continues to change. According to CoinGecko, today’s top cryptocurrencies have earned their spots thanks to significant price movements and, in fact, a major exchange listing.
Altcoins in the spotlight today are Mode (MODE), Chill Guy (CHILLGUY) and Slerf (SLERF), each attracting interest due to their recent activity and market buzz.
Mode (MODE)
Mode is a layer 2 (L2) project built using Optimism’s OP Stack. Launched in January, MODE, the project’s native token, is on the rise as the broader market has shown interest in it.
For example, in the last 24 hours, the trading volume increased to $700,000. However, the price remained in the same region at $0.13. Despite the decline, the daily chart shows that the MODE price has broken out of a descending triangle.
This breakout suggests that the bearish sentiment surrounding the token is waning. Hence, there is a chance that MODE’s value will rise. If this continues, the altcoin’s value could rise to $0.027.
Mode Daily Analysis. Source: TradingView
On the other hand, if MODE falls below the support line of the triangle, it may no longer be part of the altcoins trending today. In this scenario, its price may drop to $0.0090.
Chill Guy (CHILLGUY)
As of yesterday, CHILLGUY is on the list of altcoins to watch, largely due to its price action. The memecoin, which has recently caught the attention of the broader market, is up 70% in the past 24 hours.
Furthermore, the fact that the market cap has risen above $400 million is one of the reasons for its bullish momentum. At the time of writing, the price of CHILLGUY has reached $0.40, with the volume showing that it has the potential to rise even further.
If this is the case, the price of CHILLGUY could rise to $0.50. On the other hand, if the memecoin holders take profits, this may not happen. In this scenario, the token could undergo a deeper correction.
Chill Guy 1-Hour Price Chart. Source: TradingView
slurp (slurp)
SLERF is another Solana memecoin that is among the trending altcoins today. Unlike the others, the token is on the rise because Binance announced that it is listing the cryptocurrency on its futures market. Within minutes of the announcement, the price of SLERF surged by 40%.
At the time of publication, the cryptocurrency is trading at around $0.41. Considering the increase in the Money Flow Index (MFI), the SLERF price is likely to continue rising. If that is the case, the altcoin’s value could rise to the high point of the wick at $0.48.
Slerf 4-Hour Analysis. Source: TradingView
On the other hand, if SLERF holders take profits from the recent rally, the token could drop to $0.30.
The article Why Mode and 2 other altcoins are trending today? appeared first on BeInCrypto Brazil.