Trending Coins for Today, August 26: PEPE, NFAI, SPURDO, AICOR, and SHIB

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RESULTS

The majority of this week’s trending coins are newly launched ones. Despite these, most of these tokens are, as of the time of writing, on a downward trajectory. It appears that there is significant selling in most of these markets. Nevertheless, let’s take a more careful look at each of them.

Pepe (PEPE)

Major Bias: Bearish

PEPE has jumped to the top spot on this week’s list of trending coins. While this isn’t a new feat, it seems that this token has drawn a lot of attention in the past seven days. Pepe has a market capitalization of $342,527,948 and a trading volume of $159,841,868 today. Likewise, it has recorded a price decline of 2.40%, while its price has declined by 22.61% over the past 7 days.

At the same time, the daily chart shows that price action has broken through the support level of the 78.60 Fibonacci Retracement level at the price level of $0.0000009893. Likewise, the Stochastic Relative Strength Index (RSI) indicator lines keep falling deeper into the oversold zone of the indicator. Trading activity in this market is occurring below the 9- and 21-day Smooth Moving Average (SMA) lines, which supplies a bearish bias to this market. This increases the possibility of a further price decline towards the $0.0000008000 mark.

Current Price: $0.0000008718
Market Capitalization: $342,527,948,
Trading Volume: $159,841,868
7-Day Gain/Loss: 22.61%

Not Financial Advice (NFAI)

Major Bias: Bearish

Not Financial Advice is a recently launched token with very little trading history when examined on a daily time frame. Therefore, we will have to study price behavior in this market over a shorter time frame of 15 minutes. Although the token has made it to the second spot on this week’s list, with a self-reported market capitalization of $7,661,136, it could be observed that this token has seen its first all-time low since its launch. Also, NFAI has witnessed a trading volume of $1,175,526 in today’s trading and has recorded losses of 4.57% today and a more significant 24.11% over the week.

As earlier mentioned, this token has seen its first all-time low, considering its price chart. In the previous season, price action could be seen plunging downward through multiple support levels in one session. Meanwhile, another session is underway, incurring further losses. This has placed trading action far below the SMA lines. Additionally, the Moving Average Convergence Divergence (MACD) continues to show that there is strong bearish momentum in this market. Therefore, it appears that prices may fall further below the $0.00001000 price mark shortly.

Current Price: $0.00001058
Market Capitalization: $7,661,136
Trading Volume: $1,175,526
7-Day Gain/Loss: 24.11%

Spurdo (SPURDO)

Major Bias: Bullish

Spurdo is another recently launched token that has appeared in the third position on this week’s list of trending coins. The token has seen a profit of 48.19% today and a seven-day price decline of 34.92%. It also witnessed a trading volume of $2,312,599 today.
Meanwhile, the last price candle has just landed on the 21-day SMA line.

Also, given the appearance of this price candle, it portrays that price action may fall through this obtained support. Furthermore, the curves of the MACD indicator are below the equilibrium level and are trending sideways due to a lack of upside momentum. Meanwhile, the bars of the MACD are also pale green at this point as they have started reducing in length. Consequently, this shows that price action seems to be eying support at the $0.00000004375 price mark.

Current price: $0.00000005592
Market Capitalization: —
Trading Volume: $2,312,599
7-Day Gain/Loss: 34.94%

AICORE

Major Bias: Bullish

The AICORE token seems to be the only coin on this week’s list of trending coins that has managed to make considerable gains. However, AICOR’s price has declined by 2.02% today, while over the past 7 days, it has seen a price decline of 44.89%. Furthermore, it could be seen that despite the recorded profits in this market, it only has a trading volume of $500,291. Consequently, this suggests that this market has more long traders than short traders.

On the daily chart, price action has rebounded off support near the $1.000 price mark. However, in subsequent sessions following the rebound, bearish traders tried to force price action to resume its downward path but failed. The price candle for the ongoing session can be seen sitting just atop the 21-day SMA curve. Likewise, the MACD lines continue to rise toward the equilibrium level from below it. Technically, it appears that prices may still approach the $2.00 mark.

Current price: $0.000008000
Market capitalization: $5 billion
Trading volume: $225 million
7-Day Gain/Loss: 21.951%

Shiba Inu (SHIB)

Major Bias: Bearish

Shiba Inu is the last coin on this week’s list of trending coins, as it dropped a place from last week’s list. This coin has recorded a profit of 1.28% today while seeing a price decline of 4.54% over the past 7 days. At the same time, SHIB has a market capitalization of $4,814,452,535 and a trading volume of $88,245,518 today. Shiba Inu price action fell through multiple support levels after testing the $0.00001100 price mark. In more recent trading sessions, price action has remained below the Fibonacci Retracement level of 50.

This resistance mark seems to be strong, as some attempts to break it up have failed. At this point, price action remains below the 9- and 21-day SMA lines. The last price candle here is a dash-shaped, green one with an upper shadow, showing that buyers are fighting hard to push prices upwards at this point. Meanwhile, the bars of the MACD indicator are now pale red in appearance as the lines of this indicator continue to draw closer to each other. This hints that downward momentum is on the decline; this may give buyers the opportunity to challenge the resistance at the 50 Fibonacci Retracement level and perhaps correct prices towards the $0.000009000 mark.

Price: $0.000008152
Market Capitalization: $4,814,452,535
Trading Volume: $88,245,518
7-Day Gain/Loss: 4.54%

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