It’s Boxing Day, and the total crypto market cap has dropped by 4.60%, impacting both Bitcoin (BTC) and altcoins. Despite this, two of the three trending altcoins, according to CoinGecko, have seen double-digit price jumps.
As of today, December 26, the top trending cryptos include Tema (TEMA), Pudgy Penguins (PENGU), and RabBitcoin (RBTC).
Tema (TEMA)
Yesterday, being Christmas, saw TEMA become a trending altcoin as its price increased. As of this writing, it is trending again because of the rising volume around it, having seen a 20% price increase in the last 24 hours.
TEMA’s price is $0.060, as BeInCrypto has predicted lately. From a technical perspective, the volume around the cryptocurrency continues to rise. If this trend continues, the token’s value could move to $0.065 in the short term.
Should the volume continue to rise, then TEMA’s price could climb much higher and jump toward $0.10. However, if selling pressure rises, this might not be the same. Instead, the meme coin’s value could decline to $0.043.
Pudgy Penguins (PENGU)
Pudgy Penguins (PENGU), which launched this month, is trending for a noteworthy reason — it has become the Solana meme coin with the highest market capitalization. As of this writing, its market cap stands at $2.54 billion, surpassing that of Bonk (BONK) and Dogwifhat (WIF).
This flip occurred due to their respective price performances. While WIF and BONK saw a 6% drop, PENGU’s price surged by 15.70% in the last 24 hours.
On the 4-hour chart, bulls are defending the support at $0.037. If sustained, then the altcoin’s value could rise above $0.43 in the short term.
However, if bears tug the price below this support, that might not happen. Instead, the cryptocurrency’s value might decline to $0.029.
RabBitcoin (RBTC)
Unlike the other two trending altcoins, RabBitcoin is the only one with a price decline in the last 24 hours. During this period, RBTC’s price decreased by 7.50% due to sell-offs around the altcoin.
On the daily chart, the token trades within 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 one is a flat horizontal lower trendline that represents a support level that the price tests multiple times. Since RBTC’s price has failed to rise above the upper trendline, it suggests that the altcoin’s price might decline to $0.0000029.
On the flip side, RabBitcoin’s price might bounce if bulls push the altcoin above the upper trendline. In that case, RBTC could rally toward $0.0000014.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
