In November, many altcoins showed that they were starting to challenge Bitcoin’s dominance, and market players showed great interest in these cryptocurrencies. These altcoins are not just on the list because they outperformed BTC. Crypto analyst Victor Olanrewaju evaluates THE Coin and two altcoins that have attracted market attention from different perspectives, predicting the possible future movements of these tokens.
1. Ranked Altcoin: THENA (THE Coin)$THE
THENA is a native token of a decentralized exchange operating on BNB Chain and has become one of the most prominent altcoins recently with its price increase. In the last 24 hours, THENA has gained 130% and reached levels of $3.88. Binance’s listing of THE Coin a few days ago brought a lot of attention to the token and helped push the price up to $3.88 from the previous range of $0.15-0.50.
If trading volume continues to increase, THENA’s price could reach $5. However, it is also possible that the price could drop below $2 when profit taking begins.
2nd Ranked Altcoin: Sui (SUI)$SUI
Sui is another altcoin that has been trending recently due to its price increase. However, Sui has not experienced a huge price explosion like THE Coin and has only slightly increased by 5% in the last 24 hours. The Money Flow Index (MFI) on the daily chart of SUI has fallen below the neutral line, indicating increasing selling pressure. In this case, SUI’s value could fall to $2.38. However, if buying pressure kicks in again, Sui’s price could rise to $3.95.
3. Sıradaki Altcoin: Just a Chill Guy (CHILLGUY)
CHILLGUY is another altcoin that has been gaining attention for similar reasons to THENA. Binance added the Solana-based meme coin CHILLGUY to its futures market, causing a short-term price increase in the token. However, the price has dropped by 16.40% in the last 24 hours. This suggests that the listing is a case of “buy the rumor, sell the news.”
Volume is decreasing on the 4-hour chart of CHILLGUY, suggesting that the price could decline further. Possible target levels could be around $0.45. However, if interest in CHILLGUY picks up again, the price could rise to $0.70.
In November, altcoins like THE Coin, Sui, and CHILLGUY managed to grab the market’s attention by taking a strong stand against Bitcoin’s dominance. The future performance of these altcoins may change depending on their trading volumes and market conditions.