Top Trending Coins for Today, August 27: PNDC, NFAI, PEPE, BABYSHIB, and SHIB
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In this list of trending coins, we observe several new entries, with some of these coins being recently launched. While the majority of the cryptocurrency market experienced a bearish week, a few of these newly featured coins displayed impressive performance throughout the week. Let’s now explore the top five trending markets of the week.
Pond Coin (PNDC)
Major Bias: Bullish
After reaching a peak of $0.000004, the market transitioned into a bearish phase. Nevertheless, the bearish momentum was met with opposition from bullish sentiment around the $0.000002748 price level, leading to approximately 4 days of struggle before the price descended to $0.000000966. At this juncture, buyers found substantial support, catalyzing a price recovery towards the vicinity of $0.000003.
Following this, a lower resistance level manifested around $0.0000028, whereas buyers succeeded in establishing a slightly elevated support level. Noteworthy is the formation of a four-price doji candlestick pattern at the $0.0000015 level, coinciding with the 20-day moving average. This pattern signifies a state of market equilibrium. The market’s prominence this week can be attributed to the noteworthy level of investor engagement observed throughout this period.
Current Price: $0.0000015
Market Capitalization: $33,538,436
Trading Volume: $2,721,698
Not Financial Advice (NFAI)
Major Bias: Bearish
This market is a newcomer, with its activity depicted over merely two days on the chart. The market’s price commenced an upward surge in the early hours of yesterday, reaching a peak of $0.111. Subsequent to this peak, a bear market phase was initiated. This bearish trend persisted until buyers discovered firm support around the $0.101 price level, leading to a rebound to $0.107. In the upcoming week, there is the possibility that the market could undergo further upward movement in terms of price.
Current Price: $0.107
Market Capitalization: $7,790,420
Trading Volume: $1,272,584
Pepe (PEPE)
Major Bias: Bearish
The overall performance of Pepe this week, similar to much of the crypto market, has been bearish. However, it appears that the high liquidity during this bearish period, which affected the volume of market trading, could be a major factor contributing to this market’s position among the top trending markets for the week. Currently, the market has found support at $0.0000008515. With increased volatility observed towards the end of last week, there is the potential for Pepe to experience significant price surges in the upcoming week.
To support this expectation for the new week, we’ve noticed the expansion of Bollinger Bands, indicating an increase in market volatility. This development is likely to create more flexibility in the market, making bullish trends more robust. Additionally, the Relative Strength Index (RSI) is showing signs of being oversold, which might encourage traders to consider long positions in the new week.
Current Price: $0.0000009039
Market Capitalization: $353,859,008
Trading Volume: $93,541,248
Baby Shiba Inu (BABYSHIB)
Major Bias: Bullish
Baby Shiba Inu occupies the fourth position among the trending coins this week, likely due to its price surge over the course of the week, which also reflects its total gain over the past 30 days. This price movement propelled the market to reach a high of $0.03, subsequently triggering a bear market phase. The market achieved a remarkable gain of 469.47%, coinciding with the gain observed over the last 30 days.
In the upcoming week, this market could display signs of stagnation, as some traders might opt to secure their profits following the noteworthy price surge of the previous week.
Current Price: $0.00000843
Market Capitalization: $4,985,071,165
Trading Volume: $196,779,348
Shiba Inu (SHIB)
Major Bias: Indecision
The Shiba Inu market was largely under the control of bears last week, and it’s possible that the intensified bearish activity, reflected by a high trading volume, propelled the market to secure the top position among the week’s five trending markets. However, throughout this week, the total trading volume of SHIB decreased, contributing to the market slipping to the fifth position on the list.
Another noteworthy aspect is the potential establishment of a robust support level at $0.000008. This might pave the way for a price rebound, as it seems that the demand at this level effectively counteracted the selling pressure.
Current Price: $0.00000811
Market Capitalization: $4,779,660,846
Trading Volume: $86,291,512
