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In recent days, the cryptocurrency market has remained in a sideways state, which shows that investors are cautious. As a result, most of the altcoins that are of interest today are not seeing significant price gains.
According to CoinGecko, the three most prominent altcoins are MAD (MAD), SHRUB (SHRUB), and Movement (MOVE). This analysis explains why they have remained popular over the past 24 hours.
MAD (MAD)
The project managed by the MAD community tops the list of prominent altcoins today. However, unlike November 25, when it made the list thanks to a 73% price increase, the Token value has decreased over the past 24 hours.
As of the time of writing, the market value of MAD is 0.000048 USD, but it is still in the spotlight due to the general market’s interest in it. Technically, this altcoin attempted to reach a new peak thanks to the formation of a V-shaped recovery.
However, the daily chart indicates that this has been neutralized. Therefore, if the price decline continues, the value of the cryptocurrency will likely drop to 0.000031 USD.
On the other hand, if the bulls defend the $0.000045 support, this could change and the altcoin could rally to $0.000080.
Shrub (SHRUB)
SHRUB is another prominent altcoin that has seen a double-digit price drop in the past 24 hours. This project, developed in connection with Elon Musk’s pet “Shrub the Hedgehog,” has seen its value drop by 15%.
However, it is still in the spotlight as some Holders share the view that Musk may tweet about it, and at some point the price may increase based on this. While trading at $0.059, the 4-hour chart shows that the Relative Strength Index (RSI) has fallen below the neutral point of 50.00.
This decline points to increasing selling pressure around the token. If RSI continues to decline, SHRUB’s price could drop to $0.047. However, if buying pressure increases, the trend could reverse and the altcoin’s value could rise to $0.086.
Movement (MOVE)
Today’s featured altcoin list would not be complete without MOVE, the Ethereum layer-2 Token. MOVE is attracting attention because the project has just launched and distributed some Tokens to the first users.
Furthermore, this altcoin stands out because it is listed on Binance, leading to a 25% increase in MOVE price in the past 24 hours. While the initial price hit $1.56, it has now dropped to $0.81, indicating some airdrop-eligible recipients are selling.
If this situation continues, MOVE price could fall further. However, if buying pressure appears, the situation could change and the Token could move towards the $2 level.
General Bitcoin News
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