Top Trending Coins for Today, February 23: PI, PNUT, STMX, RUN and BAN
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This week, Pi (PI) claims the top spot among the most talked-about cryptocurrencies, drawing significant interest following its recent launch. The Pi market, in particular, has garnered considerable attention throughout the week, securing an undisputed leading position.
Peanut the Squirrel (PNUT) and StormX (STMX) also rank high, taking the second and third positions, respectively. These two markets stood out due to their strong bullish price movements in today’s trading session—an uptrend that could potentially end the prolonged bearish phase that has caused prices to decline steadily.
Here’s a breakdown of the top five trending coins making waves in the market right now.
Pi (PI)
Major Bias: Bullish
Pi (PI) leads this week’s list of trending cryptocurrencies, surging by an impressive 87.67% in the last 24 hours. The coin currently holds a market capitalization of $8.3 billion, with a trading volume of $1.3 billion.
Pi officially entered the broader crypto market on February 20, and its launch-day performance was remarkable. Although the market has experienced significant volatility, its strong recovery highlights the substantial trading activity driving its impressive performance. After peaking at $3.4, the price has now stabilized around $1.3, following a dip below the $1 threshold.
The current 4-hour trading candlestick resembles a doji, indicating market indecision as buyers and sellers reach a balance. The next breakout direction will determine the market’s short-term trajectory. However, given the ongoing speculation surrounding Pi, further price increases remain a strong possibility.
Current Price: $1.258
Market Capitalization: $8.3 billion
Trading Volume: $1.3 billion
Peanut the Squirrel
Major Bias: Bullish
Peanut the Squirrel (PNUT) has been in a persistent downtrend since its first historical data appeared on the daily chart, likely on the day of its launch. Since then, the market has consistently broken through lower support levels.
Initially, the $1.20 price level acted as a strong support zone, attracting some buying interest. However, it ultimately failed to withstand bearish pressure, leading to a deeper price decline. The breakdown below $1.20 around mid-December marked the onset of intensified bearish momentum, with the market continuing to dip into lower price territories.
Between late January and much of February, the Relative Strength Index (RSI) signaled heavy oversold conditions, reflecting sustained bearish sentiment. However, today’s market shows a significant rebound, with the price recovering from $0.15 to approximately $0.22. With the RSI now hovering around the 51 level, the market appears poised for further bullish movement.
Current Price: $0.231
Market Capitalization: $230 million
Trading Volume: $679 million
StormX
Major Bias: Bullish
The StormX (STMX) market has made a remarkable bullish recovery, signaling the potential end of its prolonged bearish trend. Given the strength of this rebound, the ongoing downtrend could be halted as a support level appears to be forming around the $0.005 price mark.
Earlier today, bullish momentum pushed the price near $0.007 before a sharp correction brought it back down. This retracement to approximately $0.005 may represent the extent of bearish resistance, suggesting that buyers could establish a solid support level at this point to sustain the market’s recovery.
Current Price: $0.005
Market Capitalization: $65 million
Trading Volume: $593 million
THORChain (RUNE)
Major Bias: Bullish
THORChain (RUNE) holds the fourth position today, surging by 13.6%. The market’s overall performance for the week stands at approximately 1.89%. At the time of writing, RUNE has a market capitalization of $479 million, with a trading volume of $474.9 million.
On the daily chart, price momentum has recently pushed toward the 20-day moving average, and the price is now hovering near this level. This suggests that the crypto signal is currently in equilibrium. Additionally, the Bollinger Bands indicate a convergence—a volatility squeeze—signaling that the market may be preparing for a significant price movement. Given that this squeeze is occurring at a relatively low price level, an upward breakout appears more likely.
Current Price: $1.36
Market Capitalization: $479.9 million
Trading Volume: $474 million
Comedian (BAN)
Major Bias: Bullish
The Comedian (BAN/USD) market holds the fifth spot on today’s list of trending markets, driven by a remarkable price surge. So far, the market has experienced a strong bounce, propelling it toward the $0.20 level. Massive buying activity from traders has pushed prices to impressive highs.
However, despite the upward momentum, the market has started a downward correction. The Relative Strength Index (RSI) currently stands at 78, indicating that further correction may still be on the horizon. Nevertheless, given the strength of the bullish move, it is unlikely that the price will be completely eroded. Bulls may find support at a favorable level to sustain the market’s upward trajectory. The $0.12–$0.11 range could serve as a key support zone for buyers looking to re-enter the market.
Current Price: $0.153
Market Capitalization: $152 million
Trading Volume: $175.6 billion
