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Today, a select group of altcoins are prominent in the Cryptocurrency market and have attracted the attention of investors. With a surge in trading volume and social media mentions, these Tokens are among the most sought-after Cryptocurrencies, mainly for similar reasons..
In this analysis, based on data from CoinGecko, TinTucBitcoin reveals the altcoins that are hot today, November 11. These include Peanut the Squirrel (PNUT), Act I: The AI Prophecy (ACT), and Sui ( SUI).
Peanut the Squirrel (PNUT)
Peanut the Squirrel, the bizarre Meme Coin coin that shot to fame after Elon Musk’s post about a deceased squirrel, is once again making headlines as Binance announces its official listing on the spot market.
This announcement, which came out this morning, pushed the price of PNUT up a whopping 300% while trading at $0.42. Furthermore, the trading volume of this altcoin has also increased by 950%, currently reaching $446.43 million at the time of publication.
4-hour chart analysis shows that Chaikin Money Flow (CMF) is increasing. CMF measures buying and selling pressure based on price and volume with positive values indicating more buying pressure.
Conversely, negative values indicate increased selling pressure. Therefore, if this index continues to increase, the price of PNUT could climb up to 0.45 USD. However, if altcoins are overbought and profit-taking increases, the price could fall. In that case, PNUT could fall to $0.30.
Act I: The AI Prophecy (ACT)
Similar to PNUT, Act I: The AI Prophecy (ACT) is also one of the prominent altcoins today because it is listed by Binance. ACT, an AI-based meme coin, emerged during a period of impressive growth for Goatseus Maximum (GOAT).
As the hype surrounding this meme coin fades, ACT’s adoption has also declined. However, with Binance’s recent listing, ACT’s price has increased by over 1,600% in the past 24 hours. Data from Lookonchain also reveals that increased accumulation by crypto whales contributed to this strong increase.
At this time, the price of ACT is 0.40 USD, while the trading volume has increased by 7,000%. If volumes and prices continue to jump, the value of altcoins could continue to climb.
On the 4-hour chart, the Moving Average Convergence Divergence (MACD) has moved into positive territory, signaling a shift in momentum to the upside. With this, ACT’s price could continue to rise to much higher levels and could exceed $0.50 in the short term.
However, sterilization could occur if meme coin investors decide to take profits in large numbers. If that happens, ACT could drop to $0.20.
Sui (SUI)
Last on the list of featured altcoins today is SUI. Unlike the other two altcoins, the native token of the layer-1 blockchain is not famous for its listing on Binance. Instead, it is making headlines for its impressive price move and the rapidity with which it reached $3.
At the time of publication, SUI’s price was $3.21, representing a 70% increase over the past seven days. On the daily chart, the altcoin continues to reach higher levels without any resistance. Given this position, there is a high possibility that SUI’s price could continue to rise towards $4.
However, investors may need to be cautious. If SUI is overbought, some investors may want to take profits. In that case, the altcoin price could fall to $2.63.
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