The crypto market is constantly evolving, and today, the trending altcoins are showing impressive price increases, marking a sharp contrast to the declines witnessed in the last couple of days. This surge could be attributed to rising liquidity flowing into the market, which has brought renewed interest to various altcoins. According to CoinGecko, the top altcoins trending today are Pudgy Penguins ( $PENGU ), Usual ( $USUAL ), and RabBitcoin ($RBTC),
Pudgy Penguins ($PENGU)
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Pudgy Penguins (PENGU) has seen an impressive 22.90% price increase over the last 24 hours. The altcoin had previously been declining after the airdrop, dipping as low as $0.023. However, rising demand has seen the token surge to $0.034, and according to the 4-hour chart, the Money Flow Index (MFI) has spiked, signaling an increase in buying pressure.
If the momentum continues, PENGU’s price could rise to $0.044 in the short term. However, if profit-taking becomes more widespread, the altcoin could fall back to $0.022, potentially removing it from the list of trending coins.
Usual ($USUAL)
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Usual has also seen an uptick, with a 25% price increase in the last 24 hours. The surge in price could be tied to reports that multiple exchanges have started investing in the project, boosting confidence in the token.
The 4-hour chart reveals that USUAL’s structure is similar to PENGU's, and if the trend holds, it could see its value rise to $1.65. However, should selling pressure increase as profits are realized, the altcoin could experience a pullback, with its value potentially dropping to $0.92.
RabBitcoin (RBTC)
The coin has not yet been listed on Binance.
Also known as Rocky Rabbit, RabBitcoin originated from a Telegram mini-app and has been gaining traction in the market. Over the past 24 hours, RBTC’s price has risen by 17%, making it one of the top trending altcoins.
RBTC had been trading within a bearish descending triangle pattern since November 2022. However, the recent price increase has seen it break out of this pattern, signaling the potential for further upward momentum. If this trend continues, RBTC could rally to $0.000013 in the short term. But if the price falls back into the descending triangle, it could drop to $0.0000029, signaling caution for investors.
Conclusion
Today, RBTC, PENGU, and USUAL are leading the charge among trending altcoins, all showing notable increases in price. While the outlook for each coin is promising, it's important to monitor market conditions, as price corrections could occur if selling pressure emerges. Keep an eye on these altcoins, as they may offer opportunities for traders looking to capitalize on short-term price movements.