Today, in time for Christmas, the cryptocurrency market saw its market capitalization increase by 1.5%. This move has pushed up the prices of top trending altcoins.
This widespread increase may stem from increased interest and liquidity flooding into the market. Although there are many other reasons, the top altcoins trending today are Sun Token (SUN), Tema (TEMA), and ai16z (AI16Z).
Sun Token (SUN)
SUN is the governance token of the SUN platform, a decentralized (DeFi) platform developed on the Tron blockchain. Over the past 24 hours, SUN’s price has increased by 4.40% and is currently trading at $0.023.
Thanks to this rise as well as the growing market interest in it, SUN is becoming mainstream. Previously, SUN’s price had decreased by nearly 50%. However, the daily chart shows that the histogram bars on Awesome Oscillator (AO) have turned from red to green, indicating a bearish to bullish shift.
If this trend continues, the value of the Token could increase to 0.034 USD. However, the altcoin faces a possible correction at $0.026. If this resistance is not overcome, this hypothesis may no longer be valid. In that situation, the value could drop to 0.019 USD.
Tema (TEMA)
TEMA, a Meme Coin on the Solana platform, is also trending among altcoins today thanks to its rising price. The performance of this coin is even superior to Sun Token when it has increased by 24.40% in the past 24 hours.
This increase in price brought the value to 0.04 USD. On the 4-hour chart, TEMA price increased this much due to increased buying pressure around the Token. The image below also shows good volume levels around it.
If volume continues to increase, TEMA’s uptrend could strengthen. In this case, the price of the altcoin could surpass the $0.050 level and move towards $0.060. However, a drop in volume would indicate a loss of interest, which could push the value down to $0.034.
ai16z (AI16Z)
AI16Z is an altcoin that grew out of the trending narrative around AI agents. The price of this cryptocurrency is continuously reaching new highs due to this development. Today, it is part of the trending altcoins as its market capitalization nears the $1 billion mark.
The increase towards that area is the result of a 32% increase over the past 24 hours, pushing the price to $0.86. From a technical perspective, the Moving Average Convergence Divergence (MACD) Indicator is in positive territory, showing bullish momentum around the cryptocurrency.
If the positive momentum maintains, the price of AI16Z could surpass $1. Conversely, if meme coin investors decide to sell heavily, this may not happen. Conversely, the Token could slide down to 0.66 USD.