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Memecoins have taken center stage in this week’s list of trending coins, with four out of the five cryptocurrencies being memecoins. Even Bitcoin has been forced to step back, dropping from the 3rd to the 4th position on this week’s list. Let’s carefully examine each of the coins below.
Hamster Kombat (HMSTR)
Major Bias: Bullish
The Hamster Kombat token is newly launched and has appeared in the top spot on this week’s list of trending coins. As of the time of writing, the coin has seen a price reduction of 5.77% in the last 24 hours and a price reduction of 32.80% over the past seven days. The coin’s market capitalization was $422.12 million, with a trading volume of $205.71 million.
Since this token is newly launched, its price action is best studied in a short time frame. Recently, price action can be seen below the middle limit of the applied Bollinger Bands indicator. These price candles are green, showing that the market is rising, though the small size of these candles reveals that the increase is modest. Nevertheless, the Stochastic Relative Strength Index (Stochastic RSI) lines show that momentum is increasing. Volatility is low, but if price action rises past the middle limit of the Bollinger Bands, the market may move above the $0.0007000 price level.
Current Price: $0.0006589
Market Capitalization: $442.12 million
Trading Volume: $205.71 million
7-Day Gain/Loss: -32.80%
Hi, I’m Back (HI)
Major Bias: Bearish
The HI token ranks second on this list of weekly trending coins. The coin boasts a 24-hour gain of 17.38% but has experienced a price decline of 12.26% over the past week. The coin has a self-reported market capitalization of $41.61 million and a trading volume of just $708,000.
The price action of this token reveals that it has been consolidating sideways for some time now and seems to be hovering near support at $0.0004673. The continued narrowing of the Bollinger Bands suggests declining volatility due to lower participation. Additionally, the Stochastic RSI lines have taken a downward trajectory, though they have delivered a crossover at the 50 level. The resulting lines from the crossover appear to be moving sideways, suggesting no clear direction. However, with the last price candle now red and below the Bollinger Bands’ middle limit, price action may fall to $0.0004673.
Current Price: $0.0004714
Market Capitalization: $41.61 million
Trading Volume: $708,000
7-Day Gain/Loss: -12.26%
MAD (MAD)
Major Bias: Bearish
MAD coin occupies the third spot on this week’s list of trending coins and has seen a price increase of 25.78% over the last 24 hours. Over the past week, the coin has recorded a 58.28% price increase. The market capitalization stands at $16.71 million, with a trading volume of $4.21 million.
This coin is also newly launched, and its price movement is best studied on a 4-hour chart. Price behavior reveals that the market crashed heavily and now seems to be near its lowest point. The Bollinger Bands have narrowed significantly, indicating reduced volatility. Recent price activity shows that the market is slightly above the middle limit of the Bollinger Bands, hinting at short-term but small gains. However, the Stochastic RSI lines are still moving toward the oversold region, after a previous failed crossover attempt.
Current Price: $0.000000417
Market Capitalization: $16.72 million
Trading Volume: $4.21 million
7-Day Gain/Loss: +58.28%
Bitcoin (BTC)
Major Bias: Bullish
Bitcoin has dropped from its position on last week’s list, now occupying the fourth spot. The coin recorded a price decrease of 0.12% in the previous 24 hours but has seen a roughly 4% price increase over the past seven days. The token’s market capitalization stood at $1.299 trillion, with a trading volume of $15.34 billion.
The price chart shows that price activity has been rising ever since the market bounced off support at $53,704. This has led to the market climbing through subsequent higher price levels. The Bollinger Bands indicator shows an upward trajectory. Meanwhile, the last price candle printed a minimal retracement, while the Stochastic RSI maintains an upward trajectory around the 80 level. This suggests traders may still use crypto signals aiming for price targets between $66,500 and $67,000.
The King of Memes token occupies the last position on this week’s list of trending coins. Based on the available metrics, this coin appears to be in the red. It saw a price reduction of 64% over the last 24 hours, while it experienced an approximately 85% price increase over the past seven days. It has a self-reported market capitalization of $73,299, with a trading volume of $1 million.
The price chart confirms the earlier statement that the market is indeed in the red. However, the line graph shows that price activity is moving slightly upward. Additionally, the trading volume seems larger than the market cap, revealing a notable level of market participation. As a result, traders may still find short-term gains towards the $0.000100 threshold.
Current Price: Not provided
Market Capitalization: $73,299
Trading Volume: $1 million
7-Day Gain/Loss: +85%
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