Over the weekend, several “old” cryptocurrencies made a surprising comeback while other Meme Coins struggled, with a few exceptions. Therefore, one of the long-standing cryptocurrencies has reappeared in the list of trending altcoins today.
This change has also reignited interest across the market, especially in tokens that have recently performed poorly. According to CoinGecko, the top three trending altcoins today are Gigachad (GIGA), Luckycoin (LKY), and MAD (MAD).
Gigachad (GIGA)
As mentioned earlier, most Meme Coins struggled over the weekend, and GIGA’s rise was not due to rising prices. In fact, its value has dropped 20% in the past seven days.
However, GIGA is among the trending altcoins today because of famous meme coin analyst Murad continues to emphasize that this is one of the best Tokens to keep. Additionally, the recent decline has sparked discussions in the market, with many claiming that GIGA is at a point of strong accumulation.
From a technical perspective, the 4-hour chart shows that Meme Coin Solana continues to trade within a descending triangle. Although this is a bearish pattern, the Token is close to support at $0.36.
If the price can drop to this support level, it is likely that the bulls will defend this area. In that case, the price could bounce to $0.055. However, if it falls below the support line, GIGA could fall as deep as 0.031 USD.
Luckycoin (LKY)
An unexpected factor in today’s altcoin trends is Luckycoin (LKY), a project launched in 2013 and recognized as the world’s first Meme Coin, from which Dogecoin (DOGE) was forked.
LKY hit the trend today thanks to impressive price activity. Trading at $13.90, the price has increased 65% in the past 24 hours and 420% in the past seven days. This rapid increase is probably driven by buying pressure, especially since this altcoin has a limited total supply of only 12.07 million coins.
With such low supply, even modest buying pressure can create sizable price movements. However, according to the 1-hour chart, LKY’s price could see a notable correction. This was mainly due to a decrease in the relative strength index (RSI).
As seen below, RSI, which measures momentum, has fallen below the 50.00 neutral line. If the index continues to decline, LKY could fall below $10. Conversely, if buying pressure increases again, the altcoin could move towards the $20 level.
MAD (MAD)
Last on the list is MAD, an altcoin that also appeared in last week’s trending altcoin analysis. This altcoin is on today’s list because its price has increased 73% in the last 24 hours and 332% in the last seven days.
This price increase, along with increased volume, indicates that the market appears to be very interested in MAD. As of the time of writing, the MAD price is 0.000045 USD. Meanwhile, the daily charts show that the bulls have protected the price from falling below $0.000036.
With increased volume and accumulation, altcoins are likely to climb higher. If so, MAD could rise to $0.000080. However, a drop below the support could invalidate the prediction, and the token could drop to $0.000032.