As the cryptocurrency market capitalization surpassed $3 trillion, many standout altcoins have captured investors’ attention. As a result, some of these are the hot trending altcoins today, according to CoinGecko.
Driven by recent developments, price movements, and surges in trading volume, this article examines why these coins are taking center stage and what’s fueling the excitement behind each one.
Notcoin (NOT)
Today, Notcoin (NOT), the cryptocurrency tied to the Telegram messaging app, is first on the list of the hot trending altcoins. NOT is trending today because of its notable price increase. Over the last few months, the altcoin’s value experienced a massive decline and showed signs of hitting a new all-time low.
However, the price has now increased by 30% within the last seven days while trading at $0.076. This significant resurgence has brought NOT back into the spotlight, with the token now having many mentions on several social media platforms.
From a technical standpoint, NOT’s price experienced this rally due to a breakout from the falling wedge on the daily chart. The increase also materialized because of the surge in the buying pressure on the spot market. For context, a falling wedge is a bullish chart pattern that appears when the price consolidates between two downward-sloping, converging trendlines.
As seen below, Notcoin’s breakout occurred after a bullish engulfing candle appeared out of the wedge. While the altcoin seems to be facing resistance at $0.0082, the support at $0.0076 looks likely to prevent another drawdown.
If that happens, Notcoin’s price could climb toward $0.010. In a highly bullish situation, it might rise to $0.013. However, if bulls fail to defend the price, it could decrease to $0.0056.
Dogecoin (DOGE)
Dogecoin’s position among the top trending altcoins may come as no surprise to dedicated market followers. Over the past 24 hours, DOGE’s price surged by 41% to $0.40, pushing its market cap above $60 billion.
Further, this recent rally marks Dogecoin’s highest price since May 2021. Earlier in the month, Dogecoin’s price was $0.15. However, with a 169% hike in the last seven days, the Bull Bear Power (BBP) shows that the cryptocurrency could go higher.
This is because the BBP, which measures the strength of bulls against bears, shows that the former are in control. If this remains the case, DOGE’s price could rally beyond $0.45.
On the flip side, if the altcoin gets overbought and profit-taking rises, it might pull back. In that scenario, DOGE could slide to $0.35.
Happy Cat (HAPPY)
Last on the list today is Happy Cat (HAPPY), a meme coin built on Solana. Like other altcoins, HAPPY is trending because of its performance, which has seen its price rise by 147% in the last 24 hours.
This price increase could be linked to the trending narrative around Cat-themed meme coins. However, the 1-hour chart shows that HAPPY’s price has decreased to $0.027. This decline is largely due to selling pressure from holders who have gained from the altcoin’s performance.
Should this continue, then HAPPY’s price could drop to $0.018. On the other hand, if buying pressure rises, this could change, and the altcoin could rally as high as $0.043.
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.
