No, DOGE and HAPPY Tops list
As the cryptocurrency market capitalization exceeds $3 trillion, many popular altcoins have attracted the attention of investors. As a result, some of these are the hottest trending altcoins today, like CoinGecko.
With recent changes, price movements and increased trading volume, this article examines why these coins are taking center stage and what is fueling the excitement behind each.
NotCoin (not)
Today, NoteCoin (NOT), a cryptocurrency tied to the Telegram messaging app, is first on the list of hot altcoins. It is not trending today due to the price increase. Over the past few months, the altcoin price has experienced a sharp decline and has shown signs of hitting new all-time lows.
However, the price is now trading at $0.076 and has now increased by 30% in the last seven days. This significant resurgence has not returned to the spotlight, the brand now has multiple mentions on many social media platforms.
From a technical point of view, the price of NOT experienced this rally due to a falling wedge breakdown on the daily chart. The increase was also due to increasing buying pressure in the market. For context, a falling wedge is a significant chart pattern in which price consolidates between two downward-sloping, converging trend lines.
As shown below, the Notcoin crash occurred after a breakout candle appeared. The altcoin seems to be facing resistance at $0.0082, but the support at $0.0076 seems to prevent another decline.
If that happens, the price of Notcoin may rise to $0.010. In the most extreme case, it can go as high as $0.013. But if the bulls fail to defend the price, it could drop to $0.0056.
Dogecoin (DOGE)
Dogecoin's place among the top trending altcoins may come as no surprise to some market followers. In the past 24 hours, DOGE's price has risen 41% to $0.40, pushing its market capitalization to over $60 billion.
Additionally, this recent rally marks Dogecoin's highest price since May 2021. At the beginning of the month, Dogecoin's price was $0.15. However, with an increase of 169% in the last seven days, Bull Bear Power (BBP) shows that the currency can go higher.
Because the BBP, which measures the strength of bulls against bears, shows that the former are in control. If this trend continues, the price of DOGE may rise above $0.45.
Conversely, if an altcoin is overbought and profitability rises, it can pull back. In that case, DOGE could slide to $0.35.
happy cat
Last on the list today is HAPPY, a meme coin built on Solana. Like other altcoins, HAPPY is trending due to its performance, its price has increased by 147% in the last 24 hours.
This price increase can be linked to the emerging narrative surrounding cat-themed meme coins. However, the 1 hour chart shows that the price of HAPPY has dropped to $0.027. This decline is mostly caused by the selling of holders who have benefited from the altcoin's performance.
If this continues, the price of HAPPY may drop to $0.018. On the other hand, if the buying pressure increases, this can change, and the altcoin can collect up to $0.043.
Disclaimer
In accordance with Trust Project guidelines, this price analysis article is for informational purposes only and should not be construed as financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always do your own research and consult with a professional before making any financial decisions. Please note that our terms and conditions, privacy policies and disclaimers have been updated.
