Top Trending Coins for Today, May 21: PEPE, WAGMI, SUI, ARB, and LHINU
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In recent weeks, the crypto market has seen the entry of new meme coins. Their entrance created excitement in the market. Some blockchain platforms have also reaped some benefits from this ongoing meme coin frenzy. This event has made transaction fees on blockchain platforms such as Ethereum skyrocket, and this is good for the security of such platforms.
Pepe (PEPE)
Major Bias: Bullish
PEPEUSD has come a long way to top the list of trending coins for this week. According to the Trading View platform, the market started having a candlestick representation of market activities on May 10, and the earlier market was very volatile. But by May 13, the market began to cool off into a consolidation trend around the $0.000002 price level. Between yesterday and today, the proximity between support and resistance grew stronger, an indication of an imminent price breakout. Today, we are already seeing a bullish breakout. This is also triggering a bit of liquidity in the bear market. The next level to be claimed by bulls will be the $0.000002 price level.
Current Price: $0.000002
Market Capitalization: $693,337,213
Trading Volume: $320,179,983
Wagmi Coin (WAGMI)
Major Bias: Indecision
Wagmi Coin’s historical data on the trading view started on May 18. Because the market is very recent, the analysis will be based on a 1-hour chart. The bullish price that was rejected at $0.00000004846 had its support at $0.00000000023. Currently, the market is at equilibrium, moving along with the 20-day moving average. The Bollinger Bands converge as an indication of a price breakout. Because the market has a higher support level, we may have a bullish price breakout, and this will put the sellers’ position in the market under pressure.
Current Price: $0.0000000909
Market Capitalization: $61,757,145
Trading Volume: $85,408,913
Sui (SUI)
Major Bias: Indecision
This was an exciting week for the Sui market. At the beginning of the week, the buying pressure propelled the market to a high of $1.25. At this level, a bear market was triggered, and the market turned south. However, the bullish price was conserved at the $1.12 price level. By the weekend, the market had begun to consolidate around the same $1.12 price level. The consolidation trend should help build strong bullish support that will form the basis for a more bullish conquest. The price is expected to rally to retest the $1.122 price level.
Current Price: $1.12
Market Capitalization: $592,888,179
Trading Volume: $77,671,076
Arbitrum (ARB)
Major Bias: Indecision
In the past week, Arbitrum bulls tried to claim the $1.2 price level. But the resistance at the $1.12 price level kept the market oscillating around the $1.17 price level. By Wednesday, another strong bullish move had propelled the price to the $1.17 resistance level. Bulls could not sustain the trend to break the resistance; therefore, the market faded into a consolidation trend over the weekend. However, there is a mini-bullish trend, as a bit of advancement was noticed after the $1.15 support level formed in the early hours of May 19. The consolidation trend may be due to a low volume of trade on the weekend. Despite the low volume of trade, the market made a slight bullish advance. With the new support level now at $1.15, about 60% of the bullish price that was issued from the $1.06 price level was conserved. This, coupled with the slight bullish advancement, suggests the market may likely retrace $1.2.
Current Price: $1.16
Market Capitalization: $1,479,741,603
Trading Volume: $89,361,680
Love Hate Inu (LHINU)
Major Bias: Bearish
This market appeared on the trading view for the first time on May 19. Therefore, the analysis will be based on a 1-hour chart. The major bias on LHINUSD is bearish, probably because it entered the market towards the end of the week. In the coming week, the market may rally. The Bollinger Bands indicator portrays a down-trending market, but the lower band is already responding to bullish sentiment around the $0.0001274 price level. The market is preparing for an uptrend. However, for now, the market is having difficulty breaking the $0.00015 resistance level.
Current Price: $0.0001470
Market Capitalization: ——–
Trading Volume: $14,074,653
