Trending Coins for Today, May 28: PEPE, PAPI, CEO, CAKE, and ARPA

On this week’s list of the top 5 trending coins on CoinMarketCap, Pepe Coin is the only coin on this list that has been here since last week. The majority of the coins here seem to be appearing here for the first time. Also, it is interesting to note that most of this coin has witnessed some profits in the past 7 days rather than in the past 24 hours.

Pepe (PEPE):

Major Bias: Bullish

Pepe Coin has been trending consistently on CoinMarketCap for about a month now. With a market capitalization of $593,149,319 and a trading volume of $129,995,495, this token has remained in the first position on the trending coins list for this week. This coin seems to have recouped previous losses that were gathered over the week today after it has moved by 5.19% in the past 24 hours and lost 4.09% over the week. On the 4-hour market, PEPE/USDT price action has risen above the middle band of the applied Bollinger Bands indicator. However, it appears that price activities are facing rejection at the 78.60 Fibonacci Retracement level. Subsequently, this has resulted in the appearance of a red candle to represent the ongoing session. Signs of weakness can also be spotted in price trends, as a pale green bar appeared on the Moving Average Convergence Divergence indicator. As a result, it seems price action is heading toward the $0.000001446 mark.

Current Price: $0.000001486
Market Capitalization: $593,149,319
Trading Volume: $129,995,495
7-Day Gain/Loss: 4.09%

Papi (PAPI)

Major Bias: Bearish

PAPI/USDT has witnessed a significant part of its losses over the past seven days within the past 24 hours. Also, this coin has achieved the second position on this week’s list with a self-reported market capitalization of $3,582,238, and a trading volume of $11,718,427. It can be observed that despite the trendy characteristics of this coin, it hasn’t benefited much from its gathered traffic, as its price has been on a gradual decline over the past seven days. Price action on its 1-hour chart has retraced lower and closer to the lowest limit of the Bollinger Bands. Also, the Stochastic Relative Strength Index (RSI) indicator has performed a bearish crossover in the overbought zone of the indicator. The leading lines of the RSI can be seen to have retraced the 46.16 mark, while the lagging one is at the 63.48 mark. The distance between the two lines mentioned suggests that the ongoing price move may be strong. Consequently, price action may retrace the $0.000002493 mark.

Current Price: $0.000003302
Market Capitalization: $3,582,238
Trading Volume: $11,718,427
7-Day Gain/Loss: 51.35%

PancakeSwap (CAKE)

Major Bias: Bearish

PancakeSwap is the third coin on this week’s trending coin list and the second coin with down-trending price action. The CAKE/USDT price action has only recovered a very small portion of the losses recorded over the week after its price went up by 1.21% today. Meanwhile, the price action of this coin has declined by 15.51% over the past 7 days. This token is in the 4th position on this week’s trending coin list and has a market capitalization of $312,093,234 and a trading volume of $20,072,590. Studying this coin’s daily chart reveals that prices in this market have been down-trending since around the 17th of April. However, the last price candle suggests that price action may have reached a strong base. At the same time, we can see that the RSI indicator curves are now approaching a bullish crossover in the oversold area. Consequently, traders can anticipate a retracement of $1.80 if the crossover eventually occurs.

Current Price: $1.55
Market Capitalization: $312,093,234
Trading Volume: $20,072,590
7-Day Gain/Loss: 15.51%

ARPA

Major Bias: Bearish

ARPA stands in the 5th position on the trending coin list on CoinMarketCap. This coin has a market capitalization of $104,176,846 and a 24-hour trading volume of $403,281,853. Also, the token has witnessed significant losses of 20.83% in the past 24 hours after its price action ramped up by 57.14% over the past seven days. On the daily chart, it could be seen that price action had recently ramped up through the 23.60 Fibonacci Retracement level. Subsequently, there was a sharp price decline through the 23.60 and 38.20 Fibonacci Retracement levels, taking the price from above $0.1100 to $0.0844. Nevertheless, price action remains above the middle limit of the Bollinger Bands indicator. Also, the MACD indicator lines are still above the equilibrium level. However, the last bar of this indicator is now pale green. Nevertheless, price action still seems to be eying the $0.0779 mark as a support level.

Current price: $0.008050
Market capitalization: $2,912,753
Trading volume: $30,151,410
7-Day Gain/Loss: $30,151,410

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