The past week has seen a noticeable downturn in the cryptocurrency market, unlike the impressive surges seen in the first week of December. This decline can be attributed to bearish market sentiment and a drop in liquidity. The top three trending altcoins in the past 24 hours are Hyperliquid (HYPE), Pudgy Penguins (PENGU), and Virtuals Protocol (VIRTUAL).
Hyperliquid (HYPE) has previously appeared on the trending altcoins list due to price surges, but today sees a 14.70% decrease in its value. Reports of North Korean hackers breaching the Hyperliquid ecosystem have led investors to withdraw $60 million from the platform, representing 3% of the total assets. The Bull Bear Power (BBP) indicator shows a negative trend, indicating a bearish sentiment. If this trend continues, HYPE’s price could drop to $22.39 or rise to $35.76 with increased buying pressure.
Pudgy Penguins (PENGU) has not seen a price increase despite being a trending altcoin. The token’s price has been around $0.027, with the Relative Strength Index (RSI) indicating neutral sentiment. If bulls take charge, the token could rise to $0.050, but increased selling pressure could push the price below $0.020.
Virtuals Protocol (VIRTUAL) is the only trending altcoin with a price increase of 6.90% in the last 24 hours. The altcoin rebounded after bulls defended the support at $2.25, pushing the price to $2.67. The resistance at $2.83 might determine whether VIRTUAL will rise to $3.32 or fall to $2.03. Investors are advised to conduct their own research and seek professional advice before making any financial decisions.