Top Trending Coins for Today, June 2: NOT, STRUMP, DOG, MEW and PEPE
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This week’s top trending market review highlights an interesting surge in memecoins. Leading the pack is Notcoin, a new entrant that managed to secure the fifth position on last week’s trending list and is now gaining remarkable momentum and popularity. The memecoin sector is on a roll, pushing established players out of the limelight. Even Pepe, which performed exceptionally well, has been relegated to fifth place in this week’s rankings. Let’s dive deeper to explore which of these new contenders are making waves.
Notcoin (NOT)
Major Bias: Bullish
The Notcoin market, launched on May 27, has been gaining significant upward traction. This week, in particular, has been bullish, with interest in this coin soaring remarkably. Initially stable at around $0.005, the market price has surged to $0.015, which is quite impressive. However, this relentless bullish run has kept the market in the overbought region, as indicated by the Relative Strength Index (RSI) moving above the 70 level. Notcoin continues to surge aggressively, gaining a remarkable 39% in the past 24 hours.
Despite this impressive performance, there are reasons for concern. The RSI shows that the market has lingered in the overbought region for a while, suggesting that a correction might be imminent. This correction could be significant unless bulls can secure a strong support level.
Current Price: $0.016
Market Capitalization: $1.7 billion
Trading Volume: $1 billion
Super Trump (STRUMP)
Major Bias: bullish
Another market that has performed remarkably well is the Super Trump market. Unlike the Notcoin market, which has been dominated by bulls, the Super Trump market has experienced significant volatility. Bulls have adeptly leveraged this volatility to secure higher support levels. Notably, they managed to shift support from the $0.00396 price level to approximately $0.0127. From this level, the market encountered resistance at the $0.02 price level but failed to push beyond this point.
Currently, near the key resistance level, a long-legged doji has formed in the current session. This indicates a strong gridlock between bulls and bears at this critical resistance level. This suggests that the market may either decline or consolidate at a higher price level before determining its next direction.
Current Price: $0.019
Market Capitalization: $33 million
Trading Volume: $13 million
DOG-GO-TO-THE-MOON (DOG)
Major Bias: Bullish
This market has performed similarly to the Notcoin market, maintaining volatility and liquidity in the bull market, which has caused a surge upward over the past week. The market began its bullish journey from the $0.004 price level, encountered bearish resistance at the $0.009 price level, and then found higher support at the $0.007 price level.
According to the Relative Strength Index (RSI), which currently measures 66, there may still be room for more bullish action. However, bears might be gathering momentum at the $0.009 price level, suggesting that traders should expect a potential rejection of bullish momentum at this level.
Current Price: $0.0086
Market Capitalization: 776 million
Trading Volume: $59 million
cat in a dogs world (MEW)
Major Bias: Indecision.
In the fourth position is the MEW market. This market attained its position by shifting the support level from approximately $0.003 to $0.0041. The market found this higher support level after encountering bearish resistance near $0.006. After establishing the higher support, the market turned upward, but bears seem to be rejecting the bullish momentum at the lower price level of $0.005.
The appearance of an inverted hammer candlestick in the current or recent trading session indicates that the market is likely to decline again. It may bounce back at the support level.
Current Price: $0.0047
Market Capitalization: $420 million
Trading Volume: $80 million
Pepe (PEPE)
Major Bias: Bullish
The Pepe market peaked at $0.00001683 over the past week and has since shifted downward. However, the bearish momentum appears weak, and bullish sentiment still prevails as the market bounces back at the $0.000015 price level. The market recorded a minor loss of 0.26% in the past 24 hours and a 0.60% loss over the past seven days. Despite these losses, indicators still portray a bullish market, with the Bollinger Bands illustrating an upward trend.
If bulls can maintain the $0.000015 price level, the bullish run is likely to continue. However, if this support level fails, the trend could reverse in a bearish direction.
Current Price: $0.00001514
Market Capitalization: $6.3 billion
Trading Volume: $1.3 billion
