This October, many altcoins have shown their readiness to challenge Bitcoin Dominance (BTC). As a result, some of these Cryptocurrencies have been among the most popular assets.
While outperforming BTC is not the only reason these Cryptocurrencies appear on the list, TinTucBitcoin reveals other reasons in this analysis. Using data from CoinGecko, the top three altcoins in the spotlight November 28 include Thena (THE), Sui (SUI) and Just a Chill Guy (CHILLGUY)
THENA (THE)
THE, the native token of the decentralized exchange built on BNB Chain, is one of the altcoins in the spotlight today thanks to its price increase. In the last 24 hours, THENA’s price has increased 130% and is currently at $3.88.
This development is also supported by Binance’s support for this Cryptocurrency through listing a few days ago. Before this move, THE price fluctuated between $0.15 and $0.50. However, the listing on Binance seems to have drawn a lot of attention to the altcoin.
Accordingly, trading volume also increased. If volume and price continue to increase, THE price could reach 5 USD. Conversely, if increased profit-taking occurs, this may not happen. In that case, the value could drop below 2 USD.
Sui (SUI)
Similar to THENA, Sui is also one of the altcoins in the spotlight today thanks to its price increase. However, it should be noted that this Cryptocurrency does not recreate the journey of THE. Instead, it has only increased slightly by 5% over the past 24 hours.
Despite rising altcoin values, the money flow index (MFI) on the daily chart has fallen below neutral levels. MFI measures buying and selling pressure around a Cryptocurrency.
When it increases, it indicates buying pressure is present. But since it has fallen in the case of SUI, this points to selling pressure. With current conditions, the value of this altcoin could drop to $2.38.
However, if buying pressure returns, this forecast may no longer be accurate. In that situation, the SUI price could rise above $3.95.
Just a Chill Guy (CHILLGUY)
CHILLGUY is one of the standout altcoins today, for similar reasons as THENA. Just a day ago, Binance has listed the meme coin Solana on its perpetual contract market, causing a fleeting price surge for the Token.
However, in the past 24 hours, the price has dropped 16.40%, showing that the listing event is a “buy the rumor, sell the truth” event. In the 4-hour chart, volume around the token has decreased. So, the price seems set to continue falling, with possible targets around $0.45.
Conversely, if interest in CHILLGUY spikes again, this may not happen, and the price could rise to $0.70.
