Altcoins Trending Today — December 10: MAD, SHRUB, MOVE
Cryptocurrency markets have remained largely sideways in recent days, suggesting investors remain cautious. As a result, most popular altcoins are not seeing significant price increases today.
According to data from CoinGecko, the top three altcoins are MAD (MAD), SHRUB (SHRUB), and Movement (MOVE). This analysis explains why they have remained popular over the past 24 hours.
food (food)
Community-driven project MAD tops the list of today’s altcoin trends. However, unlike November 25, when it enters the list The coin’s value has fallen over the past 24 hours as the price increased by 73%.
As of this writing, MAD has a market cap of $0.000048, but it is trending as the broader market remains interested in it. From a technical perspective, altcoins are trying to hit new highs as a V-shaped recovery takes shape.
But the daily chart shows that it has failed. Therefore, if the decline continues, the cryptocurrency’s value could fall to $0.000031.
On the other hand, this could change if the bulls defend the $0.000045 support, and Altcoins It may climb to $0.000080.
shrub (shrub)
SHRUB is another popular altcoin that has seen its price drop by double digits in the past 24 hours. The project was developed to Elon Musk’s The value of the pet named “Bush Hedgehog” has decreased by 15%.
However, it is trending because some holders believe Musk might tweet about it, and at some point, the price might rise as a result. While the price is trading at $0.059, the 4-hour chart shows the Relative Strength Index (relative strength index) has fallen below the 50.00 neutral point.
This drop indicates the bearish momentum surrounding the coin. If the RSI reading continues to decline, the price of SHRUB may drop to $0.047. However, if buying pressure increases, the trend may reverse and The value of altcoins may It climbed to $0.086.
Movement (movement)
Today’s list of altcoin trends would be incomplete without Ethereum layer 2 token MOVE. MOVE is popular because The project has just launched and is airdropping a portion of its supply to early users.
Apart from that, the altcoin is trending because Binance listed it, so, The price of MOVE has increased A 25% increase in the past 24 hours. While the price initially hit $1.56, it has now dropped to $0.81, indicating that some eligible airdrop recipients are selling.
If this continues, the price of MOVE may fall further. However, if buying pressure comes into play, this could change and the coin could rise towards $2.
Disclaimer
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