Several cryptocurrencies are experiencing a notable level of relief, with some gaining attention by entering the list of altcoins trending today. This surge could be attributed to improved investor sentiment and decreasing selling pressure.
Using data from CoinGecko, BeInCrypto highlights the top trending altcoins, the factors driving their popularity, and what might come next. The top three trending altcoins on October 21 are KOALA AI (KOKO), KLAUS (KLAUS), and Goatseus Maximus (GOAT).
KOALA AI (KOKO)
KOALA AI, a project that combines the humor of meme coins with the power of Artificial Intelligence (AI), tops the list of trending altcoins today. Inspired by the frog-themed meme coin Pepe (PEPE), KOALA AI is gaining traction due to the growing bullish sentiment around the AI + meme coin narrative that has been dominating the market since last week.
As a result, KOKO’s price has surged by 70% in the last 24 hours, currently trading at $0.0000055. According to the daily chart, the Relative Strength Index (RSI) reading has crossed the overbought level, which is usually above 70.00.
It is also the same with the Money Flow Index (MFI), whose reading has surpassed 80.00. While these positions imply massive buying pressure, they also indicate that profit-taking could soon begin.
Read more: Best Crypto Exchanges With the Lowest Trading Fees
If that happens, KOKO’s might lose its place as one of the altcoins trending today. In that case, the price could also decline to $0.0000047. However, if bulls keep up the pressure, the altcoin’s value could rise and break above $0.0000060;
KLAUS (KLAUS)
Next on the list is KLAUS, which is also a cryptocurrency with a meme coin narrative behind it. KLAUS is a trending altcoin today because its price has increased by 565% within the last seven days.
As of this writing, the KLAUS price is $0.040. On the one-hour chart, the altcoin faces notable overhead resistance at $0.045, which is one reason KLAUS’s price might continue to struggle in the short term.
Given the current technical setup, the cryptocurrency’s price is likely to drop to $0.030. But traders interested in this altcoin should watch out. Should KLAUS break through the overhead resistance, this prediction might be invalidated, and the token could climb to $0.056.
Goatseus Maximus (GOAT)
Goatseus Maximus appears to be the frontrunner of the ongoing AI + meme coin narrative in the market. This is because it is one of the altcoins that Truth Terminal, the AI that recently became a millionaire, held to reach that status.
However, GOAT’s price recently dropped by 50%. This happened following reports that the Truth Terminal is operated by humans, contributing to its inclusion in the altcoins trending today.
Despite the initial drop and FUD around it, Lookonchain reported that a whale accumulated another $2 million worth of GOAT. Currently, the same whale holds 21.39 million, which was acquired using $7.14 million.
Read more: 11 Cryptos To Add To Your Portfolio Before Altcoin Season
Following this development, GOAT’s price increased again and currently sits at $0.40. However, if large accumulation continues, the altcoin’s value might rally to $0.58 in the short term.
On the contrary, if crypto whales begin to sell in large numbers like one is doing, this forecast might not come to pass. Instead, GOAT’s price might fall to $0.29.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Be the first to comment