The first week of December saw a significant increase in cryptocurrency prices. However, last week saw a significant decline in the overall market. This decline is likely a result of the current downtrend and lack of liquidity in the market. Crypto analyst Victor Olanrewaju takes a closer look at VIRTUAL Coin and two other altcoins that are currently the talk of the market.

Top Altcoin: Hyperliquid (HYPE)
Hyperliquid’s native token HYPE has been among the trending altcoins due to price increases in recent weeks. However, HYPE’s price has fallen by 14.70% in the last 24 hours. This price loss is not only due to increased sales. According to new reports, North Korean hackers allegedly attacked the Hyperliquid ecosystem. Following this development, on-chain data shows that investors have withdrawn approximately $60 million from the platform. This amount constitutes approximately 3% of its total value. From a technical perspective, the Bull-Bear Power (BBP) has fallen into negative territory, indicating that the power of sellers (bears) has increased. When BBP is positive, it means that bulls are dominant in the market and prices may rise. However, the current situation is in the opposite direction. If this situation continues, HYPE’s price could fall to $22.39. However, if buying pressure increases, the price could rise to $35.76.

Second Ranking Altcoin: Pudgy Penguins (PENGU)$PENGU


Pudgy Penguins (PENGU), despite being one of the trending altcoins today, has not seen any increase in its price. Unlike the Hyperliquid token, the price of Pudgy Penguins has remained stable around $0.027 over the past 24 hours. On the 1-hour chart, the Relative Strength Index (RSI) is trading at a neutral level of 50.00. This suggests that the market sentiment around the altcoin is neither bullish nor bearish. Therefore, the price of PENGU is likely to remain between $0.025 and $0.030. However, if the bulls make a move, the price is likely to climb towards $0.050. On the other hand, if the selling pressure increases, the price of PENGU could drop below the $0.020 level.

VIRTUAL Coin: The Only Rising Altcoin
VIRTUAL Coin has seen a price increase of 6.90% in the last 24 hours, making it the only notable rally among the three trending altcoins. On the 4-hour chart, the altcoin made this recovery after the bulls defended the support at $2.25. Therefore, the value of VIRTUAL Coin has increased to $2.67. However, the next resistance level for the altcoin is seen at $2.83. If it can break this level, the price may rise to $3.32. However, if this resistance is not broken, the value may drop to $2.03.