Boxing Day saw a 4.60% drop in the overall crypto market cap, affecting Bitcoin and various altcoins. Despite this, two out of the three trending altcoins – Tema (TEMA) and Pudgy Penguins (PENGU) have witnessed significant price increases. The top trending cryptos as of December 26 include Tema, Pudgy Penguins, and RabBitcoin.
Tema has been trending due to a notable price increase of 20% in the last 24 hours, reaching a price of $0.060. The rising volume around TEMA suggests a potential price increase to $0.065 in the short term. However, if selling pressure intensifies, the token’s value could decline to $0.043. There is a possibility for a further increase to $0.10 if the volume continues to rise significantly.
Pudgy Penguins stands out as the Solana meme coin with the highest market capitalization of $2.54 billion, surpassing Bonk and Dogwifhat. PENGU’s price surged by 15.70% in the last 24 hours, in contrast to the drop seen in other meme coins. Bulls are currently defending the support at $0.037 on the 4-hour chart, indicating a potential rise in the altcoin’s value to $0.43 if the support holds. However, a decline to $0.029 could occur if bears take control.
On the other hand, RabBitcoin experienced a 7.50% price decline in the last 24 hours, attributed to sell-offs surrounding the altcoin. Trading within a descending triangle pattern on the daily chart, RBTC’s price might decline to $0.0000029 if it fails to break above the upper trendline. Conversely, a bounce could occur if bulls push the altcoin above the upper trendline, leading to a potential rally to $0.0000014.
Overall, while Boxing Day brought about a drop in the crypto market cap, certain altcoins like Tema and Pudgy Penguins have seen notable price increases. The trend in these altcoins suggests potential opportunities for investors as they navigate the volatile crypto market. Monitoring key support and resistance levels, as well as market trends, is crucial for making informed decisions in the crypto space.
