Over the past weekend, many “old” cryptocurrencies have made a surprising comeback while some meme coins have struggled, with a few exceptions. As a result, one of the old cryptocurrencies has emerged as one of today’s hot altcoins.
This shift has also led to renewed interest in the market, especially in tokens that have underperformed in recent months. According to CoinGecko, the top three leading cryptocurrencies today in terms of performance are Gigachad (GIGA), Luckycoin (LKY), and MAD (MAD).
Giga Shade Coin (GIGA)
Since it was previously mentioned that most meme coins struggled over the weekend, GIGA is trending not because of a price increase. In fact, its value has dropped by 20% over the past seven days.
However, it is part of the trending cryptocurrencies today as popular meme coin analyst Murad continues to highlight it as one of the best coins to hold. Additionally, the recent drop has sparked discussions in the market, with many considering GIGA to be at a strong accumulation point.
Technically, the 4-hour chart shows that the Solana meme coin continues to trade inside a descending triangle. While this is a bearish pattern, the token is close to support at $0.36.
If the price drops to this support, there is a possibility that the bulls will defend this area. If this is the case, the price may rebound towards $0.055. However, if it drops below the support line, GIGA may drop to $0.031.
Lucky Coin (LKY)
A surprise in today's cryptocurrency trends is Luckycoin (LKY), a project launched in 2013 and recognized as the world's first meme coin, from which Dogecoin (DOGE) was derived.
LKY is leading the way today thanks to its incredible price action. Trading at $13.90, its price has surged by 65% in the past 24 hours and 420% in the past 7 days. This rapid rise is likely fueled by buying pressure, especially considering that the altcoin has a limited total supply of just 12.07 million coins.
With such low supply, even moderate buying pressure could lead to significant price movements. However, according to the 1-hour chart, the LKY price could see a significant pullback. This is largely due to a decline in the Relative Strength Index (RSI) reading.
As shown below, the RSI, which measures momentum, has fallen below the neutral 50.00 line. If the valuation continues to decline, LKY could drop below $10. On the other hand, if buying pressure increases again, the altcoin could move towards $20.
(MAD) currency
Last on the list is MAD, which also appeared in last week’s trending cryptocurrency analysis. The altcoin is part of today’s list because its price has risen 73% in the last 24 hours and 336% in the last seven days.
This price spike, coupled with an increase in volume, suggests that the market seems to have a strong interest in MAD. As of this writing, MAD is trading at $0.000045. Meanwhile, the daily charts show that bulls have defended the price from falling below $0.000036.
With increasing volume and accumulation, the altcoin is likely to surge higher. If this is the case, MAD could rise to $0.000080. However, a drop below the support could invalidate the prediction, and the token could drop to $0.000036.
