Top Trending Coins for Today, May 28: PEPE, PAPI, CEO, CAKE, and ARPA
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Pepe Coin is the only market on this week’s list of the top 5 trending cryptocurrencies on CoinMarketCap that has been on it since last week. Most of the coins on this list seem to be making their debuts. It’s also interesting to notice that rather than in the most recent 24 hours, the majority of this coin has seen some earnings in the most recent 7 days.
Pepe (PEPE)
Major Bias: Bullish
PEPEUSD has kept its position at the top of the list since last week. This may be due to the long-term price consolidation along the $0.0000015 price level. The indecision trend has prevented bears from driving the market beyond the level of the key support, thereby conserving the bullish price around it. It is not that this market made an upside advancement that qualifies it to top the list; it is that it has maintained its position at $0.0000015. This long consolidation trend may be strengthening this support level. The contracting bands of the Bollinger indicator suggest that tension is nearing its peak and the market is about to see an upside explosion.
Current Price: $0.000001486
Market Capitalization: $593,149,319
Trading Volume: $129,995,495
Papi (PAPI)
Major Bias: Bearish
This market started appearing on the trading view on May 25; therefore, the analysis will be based on a 1-hour timeframe. This market made up the second position of this week’s CoinMarketCap trending coins for the week. However, this market has witnessed a significant part of its loss since it peaked at $0.000009463. However, the price retracement is not a steep one. This slow bear market earned it the second position on the CoinMarketCap ranking. It is also a pointer to a formidable bull market, and because of this, we see the Bollinger Bands converging as demand and supply get even with each other. Because of this pointer, it is very likely for the market to rally.
Current Price: $0.000003302
Market Capitalization: $3,582,238
Trading Volume: $11,718,427
CEO (CEO)
Major Bias: Bullish
Current Price: $0.034
Market Capitalization: $ 3,582,238
Trading Volume: $11,718,427
PancakeSwap (CAKE)
Major Bias: Bearish
In the fourth position is the PancakeSwap even though it has been on a downtrend. The bearish trend has been very strong. But as the market neared the 2.00 dollar price mark, the momentum reduced, and it embraced a sideways-ranging price movement around the $1.79 price level. After a while of struggle around this level, we saw the bulls losing grip on the market again, and as a result, the market fell to the 100% Fibonacci level, which is the $1.5 price level. CAKE/USD is most likely to rally from this level.
Current Price: $1.55
Market Capitalization: $312,093,234
Trading Volume: $20,072,590
ARPA (ARPA)
Major Bias: Bullish
The fourth position is ARPA/USD. Although, at the point of writing this analysis, the market is seeing a very significant bearish market movement after it peaked at a high of $0.13. An exhaustive, hyper-bullish move in previous daily market sessions, propelled the market to this high price level. That explains why the current bear market is so strong. The strength of this bearish trend is in response to the hyper-bullish market of the previous trading sessions. However, I do not yet consider this market to be fully bearish as long as it is still above the 20-day moving average. But with the outlook of the very recent candlestick, bears are very likely to bring the market below the 20-day moving average, confirming the bearish sentiment.
Current Price: $0.08050
Market Capitalization: $2,912,753
Trading Volume: $30,151,410
