Unlike the past few weeks, altcoins have been moving sideways over the past few days. As a result, not all popular altcoins saw their prices increase today, December 9.
This development can be attributed to profit-taking, especially as the price has been increasing significantly for some time. According to CoinGecko, the trending altcoins today are Bertram the Pomeranian (BERT), Baby Dogecoin (BABYDOGE), and Meladie Cult Coin (CULT).
Bertram the Pomeranian (Bert)
BERT has appeared on the list of trending altcoins on several occasions due to speculation that the token might be listed on Binance. While the price of the cryptocurrency has increased at various points, the last 24 hours have seen it move sideways while trading at $0.081.
Despite the disappointing price performance, the meme coin Solana remains a token that receives a lot of attention in the market. Technically, the Moving Average Convergence Divergence (MACD) indicator has fallen into the negative territory.
A decrease in the MACD reading indicates bearish momentum around the token. Therefore, the price of BERT is likely to decline. If this is the case, BERT is likely to drop to $0.063. However, if buying pressure comes into play, this may not happen, and the token could rally to $0.13.
BABYDOGE Coin
BABYDOGE is one of the few cryptocurrencies that has seen its price increase in the last 24 hours. During the mentioned period, the price has increased by 40%. The trend is leading due to the growing narrative around Dogecoin (DOGE) and Elon Musk’s constant mention of the acronym D.O.G.E.
Looking at the daily chart, the Awesome Oscillator (AO) reading has jumped into the positive territory. This indicates increased buying pressure and bullish momentum around the altcoin. If this continues, the price of BABYDOGE could rise above the highest point of the wick at $0.0000000062.
On the other hand, if the momentum turns bearish, the trend may reverse. In this case, the token may slide to $0.0000000039.
CULT
The latest altcoin trending today is CULT, a meme created by Remilia, the developers of the non-fungible token (NFT). CULT is trending because Remilia decided to launch the token today and distributed some of it to users of its ecosystem.
According to GeckoTerminal: The altcoin, launched on Ethereum, has surpassed a market cap of $600 million. With a volume of $144.97 million, the price is trading at $0.0065.
However, some market observers believe that the Milady Cult coin was launched at a fair price. Therefore, it is possible that its value will rise in the short term due to the strong community. The coming days will reveal whether that will happen or not.