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In contrast to the past few weeks, altcoins have recently entered a sideways cycle. Therefore, not all altcoins that are hot today, December 9, will see prices rise.
This development can be explained by profit taking, especially when prices have been increasing exponentially for some time. According to CoinGecko, featured altcoins today include Bertram The Pomeranian (BERT), Baby Doge Coin (BABYDOGE), and Milady Cult Coin (CULT).
Bertram The Pomeranian (BERT)
Many times, BERT has appeared in prominent altcoin lists thanks to speculation that it could be listed on Binance. Although the price of the digital coin has increased at times, over the past 24 hours the price has been trading sideways at $0.081.
Despite the unimpressive price, this Meme Coin on the Solana platform still attracts a lot of interest in the market. From a technical perspective, the Moving Average Convergence Divergence (MACD) indicator has fallen into the negative zone.
The decline in the MACD index clearly indicates a downtrend around this Token. Therefore, there is a high possibility that BERT’s price may decline. If this happens, BERT could drop to $0.063. However, if buying pressure appears, this may not happen, and the Token could rise to $0.13.
Baby Doge Coin (BABYDOGE)
BABYDOGE is one of the few Cryptocurrencies whose price has increased in the past 24 hours. During this period, prices increased by 40%. It is making waves thanks to the exciting story surrounding Dogecoin (DOGE) and Elon Musk’s constant mention of the acronym DOGE
Looking at the daily chart, the Absolute Oscillator (AO) indicator has jumped into the positive zone. This shows increased buying pressure and bullish momentum around this altcoin. If this continues, BABYDOGE’s price could surpass the wick’s high at $0.0000000062.
Conversely, if the momentum turns bearish, the trend could reverse. In that case, the Token could slide down to 0.0000000039 USD.
Milady Cult Coin (CULT)
Appearing last on today’s list of featured altcoins is CULT, a meme created by Remilia Corporation, the developer of Milday Non-Fungible Token (NFT). CULT is in the spotlight because Remilia decided to launch this Token today and give it away to users in their ecosystem.
According to GeckoTerminal, this altcoin, launched on the Ethereum platform, has surpassed the market value of 600 million USD. With a trading volume of 144.97 million USD, the price is trading at 0.0065 USD.
However, some market observers believe that Milady Cult Coin launched at a reasonable price. So, its value may increase in the short term due to strong community support. The coming days will reveal whether this will happen or not.
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