Trending Coin for March 9, 2024: SHIB, CYBONK, EGO, PEPE, FLOKI

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RESULTS

This week’s trending cryptocurrency market analysis is revealing that more altcoins are beginning to get into the spirit of the bull market. All the coins on this week’s list are altcoins and seem to have gained significant profits over the past seven days. Let’s take a closer look at each of them.

Shiba Inu (SHIB)

Major Bias: Bearish

The price of the Shiba Inu token has surged by 67.69% over the past seven days. However, so far, the token has depreciated in value by 2.4% in today’s trading. Despite this, the token has a towering market capitalization of $20.42 billion as of the time of writing, which is the biggest market capitalization on this week’s list. Also, the token’s trading volume has reached $3.51 billion.
Moving now to the token’s price chart, we can see that the market exploded bullishly late last month (February). Furthermore, the market hit the $0.00003500 mark five sessions ago but failed to surpass that resistance mark enough to gain support above it.

Nevertheless, trading continues near the uppermost limit of the Bollinger Bands. In addition, the Moving Average Convergence Divergence (MACD) indicator lines are still oriented upwards. It should be noted that the bars of the MACD indicator are now pale, showing that upside forces aren’t that strong. Yet, traders can still eye the $0.00004500 mark.

Current Price: $0.00003464
Market Capitalization: $20.42 billion
Trading Volume: $3.51 billion
7-Day Gain/Loss: 67.69%

CYBONK

Major Bias: Bullish

The CYBONK token has delivered an impressive performance today. The token’s price has increased by 23.66% today, and by a greater 104.08% over the past 7 days. It has also reported a self-reported market capitalization of $4.02 million and a trading volume of $6.08 million.

From the chart above, it can be seen that price action in this market has an upside trajectory. Also, buyers still have good control over the movement of prices in the market. However, the lack of technical indicators has denied us the opportunity to gain insight into the struggle between upside and downward forces. Nevertheless, since the market is still headed northwards, traders can still utilize bullish crypto signals here, in anticipation of a continued upside correction towards the $0.00005500 mark.

Current Price: $0.00004800
Market Capitalization: $4.02 million
Trading Volume: $6.08 million
7-Day Gain/Loss: 104.08%

EGO

Major Bias: Bullish

The EGO token is the third token on this week’s list of trending cryptocurrencies. This is another token with a considerable bullish performance in today’s trading session. The EGO token has printed a price increase of 46.77% in today’s session alone, while recording just a 32% increase over the past few days. Also, it has a market capitalization of $3.84 million and a trading volume of $5.78 million.

On the daily chart, we can see that the ongoing session has been represented by a long bullish price candle. In fact, this ongoing session has pushed prices through the roof of the Bollinger Bands indicator. Also, sharp price increases in the ongoing session have resulted in a jerky crossover in the MACD indicator lines. Be that as it may, the ongoing session maintains strong bullish characteristics, since the corresponding price candle has a significantly shorter shadow atop it than the one below it. Therefore, traders can hold their positions and anticipate a continued upside correction towards the $0.07500 mark.

Current Price: $0.06754
Market Capitalization: $3.84 million
Trading Volume: $5.87 million
7-Day Gain/Loss: 32%

Pepe (PEPE)

Major Bias: Bullish

Pepe stands in the fourth position on this week’s list of trending coins. The coin has seen some increase in today’s trading, but it seems quite meager compared to some less prominent tokens on this week’s list. However, it appears that it has had an impressive run over the week. While the coin has only seen a price increase of just 4.50% in today’s trading session, it has printed a price increase of approximately 120% over the week. Meanwhile, it has a market capitalization of $3.78 billion and a trading volume of $2.85 billion.

On the daily market chart, price activity has corrected minimally downward after testing the resistance at the $0.00001000 mark. Yet, the token trading activity stays near the uppermost bands of the Bollinger Bands. Likewise, the MACD lines keep trending up above the equilibrium level. The last two bars above the equilibrium level can be seen appearing solid green, pointing to the fact that upside momentum is quite strong and will likely keep propelling the market upwards. Consequently, price action seems ready to break the $0.00001000 resistance shortly.

Current Price: $0.000008960
Market Capitalization: $3.78 billion
Trading Volume: $2.85 billion
7-Day Gain/Loss: 120%

FLOKI

Major Bias: Bullish

FLOKI hangs in the fifth spot on this week’s list of trending coins. However, it appears that the token has seen more price moves than Pepe today. The coin has moved by an impressive 18.66% today, while it has seen the most significant price surge of 126.77% in the past seven days. It has a market capitalization of $2.42 billion and a trading volume of $2.32 billion.

In the daily market, it could be seen that the token exited a consolidation move towards the end of last month. Since then, the market has quickly appreciated in value. At this point, we can see that even the ongoing session maintains significant bullishness despite the considerable downward correction seen in today’s trading session. The token continues to trade above the uppermost limit of the Bollinger Bands. The Average True Range indicator line applied to this chart retains a general upside trajectory despite minor deflection. Consequently, this signals that price action may be headed towards the $0.0003000 mark.

Current Price: $0.0002509
Market Capitalization:$2.42 billion
Trading Volume: $2.32 million
7-Day Gain/Loss: 126.77%

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