Top Trending Coins for Today, March 9: SHIB, CYBONK, EGO, PEPE, and FLOKI
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This week’s trending cryptocurrency market analysis reveals that alternative coins, often referred to as “altcoins,” are capitalizing on the positive market sentiment. Notably, memecoins seem to be leading the charge, with many experiencing impressive gains over the past seven days. Let’s take a closer look at these top performers.
Shiba Inu (SHIB)
Major Bias: Bullish
Shiba Inu exhibited strong bullish momentum at the beginning of the week, with its price surging from $0.0000226 on Monday to approximately $0.0000363. However, this rally proved unsustainable, encountering resistance at the $0.000045 level and triggering a brief period of bearish sentiment.
Tuesday saw a return of volatility, with the market ultimately closing in a state of indecision. Despite this, bulls managed to establish support above $0.000030, indicating their continued influence.
The widening Bollinger Bands suggest heightened market volatility. However, with bulls securing a key support level, they currently appear to be in control.
Current Price: $0.0000355
Market Capitalization: $21.1 billion
Trading Volume: $2.9 billion
CYBONK (CYBONK)
Major Bias: Bullish
The CYBONK token is experiencing a remarkable surge, with its price skyrocketing by 134% in the past 24 hours alone. This impressive performance builds upon gains exceeding 250% over the past week. The current market capitalization of $6.9 million and a trading volume of $8.7 million further highlight the token’s momentum.
While the price chart displays a clear bullish trend, indicating strong buying pressure, the lack of technical indicators hinders a more precise assessment of the upward momentum’s strength. Nevertheless, the sustained northward trajectory presents a potential opportunity for traders. By capitalizing on supportive crypto signals, investors could potentially benefit from a continued price correction towards the $0.00005500 mark.
Current Price: $0.000069
Market Capitalization: $6.9million
Trading Volume: $8.7 million
EGO (EGO)
Major Bias: Bullish
Since the latter half of February, the EGO market has exhibited a consistent bullish trend, decisively breaking above the $0.03394 indecision level. This uptrend is characterized by higher highs and higher lows, a hallmark of bull dominance.
However, in March, a test of the $0.06 resistance level triggered profit-taking and a brief period of bearish sentiment. This resulted in a price drop below the $0.050 support level. The bulls swiftly regained control, pushing the price back above the $0.050 level and ultimately breaking through the $0.06 resistance.
The market subsequently reached a high of $0.08 before profit-taking commenced. Despite this correction, bullish sentiment remains strong. While the Relative Strength Index (RSI) is approaching overbought territory with a value near 70, the prevailing bullish sentiment suggests there could be potential for further upward movement.
Current Price: $0.067
Market Capitalization: $4.3 million
Trading Volume: $7.8 million
Pepe (PEPE)
Major Bias: Bullish
Pepe dominated the top trending markets list last week but has relinquished its position this week. Last week’s analysis highlighted Pepe’s breakout from a prolonged period of price consolidation in late February. Over the past two weeks, the market has continued to exhibit a bullish trend, characterized by higher highs and higher lows.
This uptick in price volatility is evident from the widening Bollinger Bands. While bears attempted to capitalize on the volatility around the $0.000008 level, bullish sentiment appears to remain dominant.
However, the latest candlestick pattern with a long upper shadow and the RSI indicator lingering in overbought territory present a crypto signal that suggests a potential trend reversal.
Nevertheless, if bulls can establish support at the former resistance level of $0.000008, the uptrend may continue.
Current Price: $0.0000088
Market Capitalization: $3.7 billion
Trading Volume: $2.3 million
FLOKI (FLOKI)
Major Bias: Bullish
FLOKI lands at number five on this week’s trending markets list. The market has exhibited aggressive bullish momentum since early March, building upon a positive trend that began in late February.
This significant upward movement has inevitably raised concerns about a potential bearish correction. The latest candlestick pattern, with a prominent upper shadow, and the RSI indicator persistently hovering in overbought territory since last week lend credence to this possibility.
However, the robust bullish performance has established a higher support level for FLOKI. The Bulls have multiple potential support zones where they could potentially step in and maintain the upward trajectory.
Current Price: $0.00025
Market Capitalization: $2.3 billion
Trading Volume: $1.9 billion
