Trending Cryptocurrencies for August 31, 2024: DOGS, TRONDOG, BTC, TON, and SOL

Bitcoin has dropped from the top of the list to the third spot on this week’s list of trending cryptocurrencies. The king of all cryptocurrencies was displaced by more recently launched tokens (DOGS and TRONDOG) based on trendiness. Without delay, let’s check out each of the coins on this week’s list.

Dogs (DOGS)

Major Bias: Bullish

Dogs is a recently launched token, posting a gain of 6.86% in today’s trading activity, taking the top spot on this week’s list of trending cryptocurrencies. However, the same coin has seen a price decline of 17.79% over the past seven days. The coin has a market capitalization of $678.14 million and a trading volume of $497.16 million. This seems quite impressive for a newly launched coin.

On the price chart, this token isn’t performing badly either. The last price candle on the chart has risen past the middle limit of the Bollinger Bands (BB) indicator. The applied Stochastic Relative Strength Index (Stochastic RSI) lines are also rising upwards in what seems like a proportionate manner from the oversold region. Technically, this token has a fair outlook in the short term and may hit the $0.001400 mark shortly.

Current Price: $0.0013116
Market Capitalization: $678.14 million
Trading Volume: $497.16 million
7-Day Gain/Loss: -17.79%

Trondog (TRONDOG)

Major Bias: Bullish

The TRONDOG token is another newly launched cryptocurrency. This coin has seen an even more significant price increase in today’s trading activity. The price of this coin has increased by 38.35% on the day, while it saw a price increase of just 21.75% over the past seven days. The token, however, has a small self-reported market cap of $2.04 million and a trading volume of $3.76 million.

Nevertheless, this coin has shown some impressive bullishness. The examined price chart is an hourly price chart due to the age of the coin. It can be seen that for the past 14 sessions, upward forces have been in control, pushing the market upwards consistently. Even the ongoing session has recorded increased momentum. This keeps the Stochastic RSI indicator lines dragging sideways at the 100 mark. This suggests that crypto signals targeting the $0.002200 mark will likely be successful.

Current Price: $0.0021135
Market Capitalization: $2.04 million
Trading Volume: $3.76 million
7-Day Gain/Loss: 21.75%

Bitcoin (BTC)

Major Bias: Bearish

Bitcoin has resumed trading below the $60,000 threshold. Consequently, it occupies the third position on this week’s trending cryptocurrencies list. As of the time of taking the metrics, its price has increased by 1.63%, while over the past seven days, it saw a price decline of 7.93%. Its market cap stands at $1.17 trillion with a trading volume of $19.38 billion.

On the daily price chart, the market has been consolidating for the past three sessions. Price activity now falls below the middle limit of the BB indicator. Similarly, the Stochastic RSI lines are still generally oriented towards lower levels. However, a closer look at the Stochastic RSI lines reveals that these indicator lines are turning slightly sideways in response to the consolidation of price activity. Therefore, the available signs still support a continued downward retracement towards the $57,000 price level.

Current Price: $58,991
Market Capitalization: $1.17 trillion
Trading Volume: $19.38 billion
7-Day Gain/Loss: -7.93%

Toncoin (TON)

Major Bias: Bearish

Toncoin recently experienced a massive headwind, causing its price to fall significantly. Despite this, the cryptocurrency has arrived in the fourth spot on this week’s trending list. So far, it has seen a price increase of 0.68% today and a price decline of 21.50% over the past seven days. It also has a market cap of $13.56 billion and a trading volume of $208.49 million.

The token’s price chart reveals that price action fell sharply within three sessions but remained above the $5.130 threshold. Nevertheless, price action remains far below the BB indicator’s moving average, placing the market under tremendous pressure. The applied Stochastic RSI lines can be seen delivering another crossover below the 30 mark of the indicator. This suggests that price action may try to breach the support at the $5.130 threshold.

Current Price: $5.368
Market Capitalization: $13.56 billion
Trading Volume: $208.49 million
7-Day Gain/Loss: -21.50%

Solana (SOL)

Major Bias: Bearish

In the last position on this week’s list of trending cryptocurrencies is Solana. The available metrics reveal that the coin has seen a price increase of 1.81% on the day and a price reduction of 14.69% over the past seven days. As of the time of writing, Solana has a market cap of $63.49 billion and a trading volume of $1.62 billion.

The price chart reveals that the market is sticking to its bearish path below the middle limit of the Bollinger Bands indicator. Also, the Stochastic RSI indicator lines have fallen deep into the oversold region. Additionally, the lines of the indicator aren’t approaching a crossover. This suggests that the market may proceed toward the $136.00 and afterward the $135.00 price mark.

Current Price: $136.27
Market Capitalization: $63.49 billion
Trading Volume: $1.62 billion
7-Day Gain/Loss: -14.69%

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