New Cryptocurrencies Launched This Week to Watch
Among the many coin launches this week, two on Solana and one on Pace have attracted notable attention.
PRAWN leads with a market cap of $25 million and 92,000 daily transactions. CHAOS maintains a valuation of $16 million despite recent volatility. Meanwhile, TETSUO is gaining momentum with 12,000 holders and $5.8 million in daily trading volume. All three coins show promising growth potential based on technical indicators.
Baby King Prawn (Shrimp)
PRAWN, a new meme coin on Solana, has quickly gained momentum in the cryptocurrency market, achieving a market cap of $25 million in less than 48 hours.
The coin has shown remarkable community engagement, attracting over 10,000 holders and generating around 92,000 daily transactions.
PRAWN's current RSI reading of 40 indicates that it is neither overbought nor oversold. This may leave room for a potential upside move.
This neutral RSI suggests that PRAWN may maintain its momentum and possibly double its market cap to $50 million.
chaos
CHAOS, a new meme coin on Pace, has quickly established a significant presence since its launch four days ago. It has amassed over 10,000 holders and maintained a steady flow of over 6,700 daily transactions.
Despite its current market cap of $16 million, the coin has seen a 13.5% drop in the past 24 hours.
CHAOS RSI reading of 56, centered in the mid-range, with the recent price correction, suggests that CHAOS may find its balance after the initial volatility in trading.
This technical setup, with its proven ability to reach a market cap of $30 million just two days ago, suggests a potential recovery. The recent pullback could provide an entry opportunity for traders who missed the initial surge.
TETSUO Coin
Tetsu, one of several coins launched on Solana, has shown traction in its first five days, attracting over 12,000 holders and maintaining an equally impressive daily transaction volume.
The coin's current market cap of $12 million, with a robust daily trading volume of $5.8 million, indicates significant market participation and liquidity.
With the Relative Strength Index (RSI) reading at 39.6, indicating that the coin is approaching the oversold zone, TETSUO may be primed for an upward move.
Given the existing trading volume and holder base, a rebound in buying pressure could push the token towards the $15 million market cap resistance level. If that happens, TETSUO has the potential to expand further to $20 million if momentum picks up.
