Trending Cryptocurrencies for November 16, 2024: FLOKI, BOME, NEIRO, PEOPLE, and PNUT

Memecoins are gaining significant traction and have dominated this week’s list of trending coins. FLOKI has even surpassed BTC to claim the top spot on this week’s list of trending cryptocurrencies. BOME has also secured the second spot on the list. Without further ado, let’s delve into the analysis of each of these coins.

FLOKI (FLOKI)

Major Bias: Bearish

FLOKI is the most sought-after coin on this week’s list, occupying the top position. The coin saw a price increase of 7.90% and an overall price increase of 69.43% over the past seven days. Meanwhile, it has a market cap of $2.28B and a trading volume of $1.53B.

On the daily price chart, the token’s price action has been rising sharply in recent times. However, the latest price candle has appeared bearish, pushing the market back below the $0.0002500 price level. At the same time, the Moving Average (MA) lines are positioned below the price action. Additionally, the 20-day and 200-day MA curves are poised for a crossover below the price activity. Although the Stochastic RSI lines are falling towards the 80 mark of the indicator, traders can still utilize bullish crypto signals targeting the $0.0002550 and $0.0003000 price levels, as a crossover is imminent on the 20-day and 200-day MA lines.

Current Price: $0.0002388

Market Capitalization: $12.28B

Trading Volume: $1.53B

7-Day Gain/Loss: +69.43%

BOOK OF MEME (BOME)

Major Bias: Bearish

The BOME coin is the second on the list and has also recorded some decent performance in today’s trading. As of writing, the coin saw a price increase of 5.08% in 24 hours. Additionally, it has seen a price increase of 21.35% in the past seven days. Its market cap stands at an impressive $703M while having a trading volume of $583M.

The token’s price chart reveals that the market has been forming higher lows since rebounding off the technical support at the $0.006000 level. The latest price candle has appeared red, causing the market to dip slightly. Nevertheless, it has kept the market above all the MA curves. In fact, the 200-day and 20-day MA curves have just delivered a crossover below the price action. Yet, the Stochastic RSI lines are still descending towards the 50 level of the indicator. Nonetheless, traders can anticipate a rebound off the psychological price level at the $0.01000 mark.

Current Price: $0.010143

Market Capitalization: $703M

Trading Volume: $583M

7-Day Gain/Loss: 21.35%

Neiro (NEIRO)

Major Bias: Bearish

The NEIRO coin occupies the third position on this week’s list of trending cryptocurrencies. The token saw a price increase of 0.02% while recording a price decline of 4.92%. As of the time of writing, it has a market cap of $879M and a trading volume of $811M.

The price chart reveals that the market has been consolidating just above the 20-day MA line. The previous session saw a rebound off the 20-day MA line, while the ongoing session has brought the market lower towards the MA line. Consequently, this token is trading just above the psychological support level at the $0.0020000 price level. Additionally, price action remains above all the MA lines on the chart. The Stochastic RSI lines are still falling downward into the oversold region. Therefore, this market seems poised to test the support level at the $0.002000 price mark.

Current Price: $0.002066

Market Capitalization: $879M

Trading Volume: $811M

7-Day Gain/Loss: 4.92%

ConstitutionDAO (PEOPLE)

Major Bias: Bearish

The PEOPLE coin has occupied the fourth spot on this week’s list. It has seen a price increase of 2.42% in today’s trading activity and a price decline of 0.29% over the past seven days. As of the time of writing, the coin has a market cap of $321M and a trading volume of $239M.

The price chart has shown that price action in this market has been forming slightly higher lows since August 2024. However, recent price candles have revealed that price action has become more volatile in recent times. The latest price candle can be seen below all the MA lines. The 20-day and 100-day MA lines have just delivered a bearish crossover above the price action on the chart. Additionally, the Stochastic RSI lines are now trending downward following a crossover in the oversold region. Indicators on this chart suggest that the market may soon touch the support level at $0.06000.

Current Price: $0.06310

Market Capitalization: $321M

Trading Volume: $239M

7-Day Gain/Loss: 0.29%

Peanut the Squirrel (PNUT)

Major Bias: Bullish

The last token on this week’s list of trending cryptocurrencies is the PNUT coin. The coin saw a price increase of 1.10% as of today, while its price surged by 2062% over the past seven days. The coin has a market cap of 1.73B and a trading volume of 2.56 B. This coin was launched recently, so it will be analyzed in a 4-hour timeframe.

The latest price candle on the chart has formed a hammer candlestick pattern. Technically, the appearance of this candlestick pattern suggests that an upward rebound may occur. It should be noted that the Stochastic RSI indicator lines have fallen deep into the oversold region of the indicator following such a moderate price decline. However, the lead line of the Stochastic RSI lines seems slightly deflected towards the lagging line. Nevertheless, since price action is below the 50-day and 20-day MA lines, it seems the market may move towards the $1.500 price level.

Current Price: $1.7600

Market Capitalization: $1.73B

Trading Volume: $2.56B

7-Day Gain/Loss: +2062%

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