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It’s all memes this weekend on this week’s list of trending cryptocurrencies. Meme coins have displaced more prominent crypto from the list of the 5 most trendy coins, as even Bitcoin dropped from the top of the list last week to the fifth spot on this week’s list. This seems like an incredible feat. Let’s take a closer look at each of the cryptocurrencies on the list.
Simon’s Cat (CAT)
Major Bias: Bullish
According to the available metrics for the Simon’s Cat token, it has seen a price increase of 1.28% on the day. Meanwhile, the market has experienced a more significant price increase of 15.41% over the past seven days. Additionally, its market cap at the time of writing was $233 million, while its trading volume was $104.65 million.
The coin is newly launched and will be studied on a 4-hour chart. The token’s price activity reveals that the market has been in an uptrend, with price action making higher highs. The ongoing session remains green, suggesting that bullish momentum is in play. The market is still challenging the standing resistance at the $0.00003500 mark. Despite this, the ongoing session stands above all the Guppy Multiple Moving Average (GMMA) lines, while the Stochastic Relative Strength Index (Stochastic RSI) lines are trending towards the oversold region. Therefore, traders can use crypto signals with entries above the $0.00003500 mark.
Current Price: $0.00003428
Market Capitalization: $233 million
Trading Volume: $104.65 million
7-Day Gain/Loss: 15.41%
Cate (CATE)
Major Bias: Bullish
The Cate token stands in the second spot on this week’s list of trending cryptocurrencies. It has seen a price increase of 115.78% on the day and a price increase of 466.84% over the past seven days. The token has a market capitalization of $41.83 million with a trading volume of $26.43 million.
Launched about a day ago, its price action will be studied on an hourly chart. The price has been above the GMMA indicator for the last three sessions. The ongoing session has turned red, indicating a market retracement. Nevertheless, the token still trades above the GMMA curve. The Stochastic RSI lines have delivered a crossover, with the ensuing lines trending sideways. Traders hope that the baseline formed by the GMMA lines will hold, allowing price action to rebound towards the $0.0600 threshold.
Current Price: $0.04430
Market Capitalization: $41.83 million
Trading Volume: $26.43 million
7-Day Gain/Loss: 466.84%
DOGS
Major Bias: Bearish
According to available metrics, the DOGS token has seen more price increases today than over the past seven days. While this coin is in the third spot on this week’s list, it has seen a price increase of 8.21% on the day, compared to a 5.21% increase over the past seven days. It has a market cap of $569.46 million and a trading volume of $443.47 million.
The market previously surged through the GMMA lines but then retraced. However, it rebounded off the support at $0.001094. As a result, the ongoing session is now bullish but shows a minimal price increase. The Stochastic RSI lines still have a downward trajectory, hinting that downward forces may resume. However, traders might stay optimistic, hoping the market extends upwards to the $0.001200 mark.
Current Price: $0.001103
Market Capitalization: $569.46 million
Trading Volume: $443.47 million
7-Day Gain/Loss: 5.21%
Department of Government Efficiency (DOGE)
Major Bias: Bearish
The DOGE token has seen a significant price decline in today’s trading activity. Yet, it appears in the fourth spot on this week’s list of trending cryptocurrencies. Its price declined by 20.75% today and by 28.44% over the past seven days. The token has a reported market capitalization of $7.53 million and a trading volume of $1.26 million.
This token was also recently launched and saw explosive growth in recent sessions. However, after hitting a rejection at the $0.01800 price level, the market started to retrace. The last price candle stands below almost all GMMA indicator lines. The Stochastic RSI lines are falling deeper into the oversold region, so traders should watch the support level at $0.004000.
Current Price: $0.005432
Market Capitalization: $7.53 million
Trading Volume: $1.26 million
7-Day Gain/Loss: -28.44%
Bitcoin (BTC)
Major Bias: Bearish
Bitcoin has taken the lowest position on this week’s list of trending cryptocurrencies. It saw a price increase of 2.85% today and a 9.80% price increase over the past seven days. Its market cap was $1.18 trillion, and its trading volume was $28.85 billion.
BTC price action appears to be retracing upwards after hitting support at $53,704. However, the $60,000 threshold seems to present strong resistance to upward progress, as price action rebounded downward after hitting this level. Despite this, price activity remains above all GMMA lines. The GMMA lines seem to be converging for a bullish crossover below current price activity. The Stochastic RSI lines are dragging sideways at the 100 mark of the indicator. Consequently, it seems safer to position an entry above the $60,000 price level.
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