It’s Boxing Day, and the total crypto market cap has dropped 4.60%, impacting both Bitcoin (BTC) and altcoins. Despite this, two of the three altcoins highlighted by CoinGecko have seen double-digit price increases.
Today, December 26, the most popular cryptos include Tema (TEMA), Pudgy Penguins (PENGU), and RabBitcoin (RBTC).
Theme (THEME)
Yesterday, being Christmas, saw TEMA become a featured altcoin as its price surged. At the time of writing, it is once again on the rise due to increased volume around it, having seen a 20% price increase in the last 24 hours.
TEMA is currently priced at $0.060, as predicted by BeInCrypto recently. From a technical perspective, the volume surrounding the cryptocurrency continues to rise. If this trend continues, the token’s value could reach $0.065 in the short term.
If the volume continues to increase, then the price of TEMA could rise much higher and jump to $0.10. However, if the selling pressure increases, this may not happen. Instead, the value of the memecoin could drop to $0.043.
Tema 4-hour analysis. Source: TradingView
Pudgy Penguins (PENGU)
Pudgy Penguins (PENGU), which launched earlier this month, is on the rise for a big reason: it has become the Solana memecoin with the largest market cap. As of this writing, its market cap is $2.54 billion, surpassing that of Bonk (BONK) and Dogwifhat (WIF).
This reversal occurred due to their price performance. While WIF and BONK saw a 6% drop, PENGU’s price rose 15.70% in the last 24 hours.
On the 4-hour chart, the bulls are defending the support at $0.037. If held, then the altcoin's value could rise above $0.43 in the near term.
Pudgy Penguins 4-hour analysis. Source: TradingView
However, if the bears pull the price below this support, this may not happen. Instead, the cryptocurrency’s value may drop to $0.029.
RabBitcoin (RBTC)
Unlike the other two altcoins in the spotlight, RabBitcoin is the only one to see a price drop in the last 24 hours. During this period, the price of RBTC has decreased by 7.50% due to selling around the altcoin.
On the daily chart, the token is trading inside 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 is a flat horizontal lower trendline that represents a support level that the price tests several times. As RBTC price failed to rise above the upper trendline, this suggests that the altcoin price could fall to $0.0000029.
RabBitcoin Daily Analysis. Source: TradingView
On the other hand, RabBitcoin price could rise if bulls push the altcoin above the upper trendline. In this case, RBTC could rise to $0.0000014.
The article Why Are These Altcoins Trending Today, 12/26/2024? was first seen on BeInCrypto Brasil.
