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As the total cryptocurrency market capitalization surpasses $3 trillion, many prominent altcoins have attracted attention from investors. According to CoinGecko, today some altcoins are becoming hot trends.
Fueled by recent developments, price movements and increasing trading volumes, this article explores why these coins are taking center stage and what is driving the excitement behind each coin. .
Notcoin (NOT)
Today, Notcoin (NOT) – the cryptocurrency associated with the Telegram messaging application, tops the list of prominent altcoins that are causing a stir. NOT is making headlines for its significant increase in value. In recent months, the altcoin’s value has experienced a major decline and shows signs of hitting new lows.
However, the value has increased by 30% in the past seven days to trade at $0.076. This strong recovery has brought NOT back into the spotlight, with the token now widely mentioned on social media platforms.
From a technical perspective, NOT’s price increased on a breakout from a falling wedge pattern on the daily chart. This increase also occurred due to increased buying pressure in the spot market. By comparison, a falling wedge is a bullish chart pattern that appears when price consolidates between two downward-sloping converging resistance levels.
As seen below, NOT broke out after a bullish dominance candle emerged from the wedge. Although the altcoin appears to be encountering resistance at $0.0082, support at $0.0076 could prevent another decline.
If that happens, Notcoin’s price could climb to $0.010. In a very optimistic scenario, it could rise to 0.013 USD. However, if investors fail to defend the price, it could drop to $0.0056.
Dogecoin (DOGE)
Dogecoin’s position among the top featured altcoins probably comes as no surprise to loyal market watchers. Over the past 24 hours, DOGE price has increased 41% to $0.40, pushing its market capitalization above $60 billion.
Furthermore, the recent bullish mark marks Dogecoin’s highest price since May 2021. At the beginning of the month, Dogecoin price was $0.15. However, with a 169% increase in the past seven days, the Bull Bear Power (BBP) index suggests that the cryptocurrency may continue to rise.
This is because BBP, which measures the strength between bulls and bears, shows that buyers are in control. If the situation persists, DOGE price could explode beyond $0.45.
Conversely, if altcoins are overbought and profits are high, a downside correction is possible. In that scenario, DOGE could slide to $0.35.
Happy Cat (HAPPY)
Last on today’s list is Happy Cat (HAPPY), a Meme Coin Coin built on Solana. Like other altcoins, HAPPY is trending thanks to its performance, having seen its price increase by 147% in the past 24 hours.
This increase may be related to the popularity of Cat-themed Coin Memes. However, the 1-hour chart shows that HAPPY price has dropped to $0.027. This decrease is largely due to selling pressure from holders who have made profits.
If this trend continues, HAPPY’s price could drop to $0.018. However, if buying pressure increases, the altcoin could rebound and rise as high as $0.043.
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