Why These Altcoins Are Trending Today — October 25

By admin On Окт 25, 2024

The top trending cryptos today differ from those on the list in recent days. While two of the altcoins have appeared before, one is a new entrant associated with the Telegram messaging app.

It’s crucial to recognize that the trending status of these altcoins does not guarantee a price increase, as they may be trending for various reasons. As of October 25, the top three trending altcoins on CoinGecko are Goatseus Maximus (GOAT), Notcoin (NOT), and Scroll (SCR).

Goatseus Maximus (GOAT)

GOAT has remained on the list mainly because of the AI+ meme coin narrative, which seems to be the frontrunner. But it is one of the top trending cryptos today for entirely another reason.

Specifically, Binance listed GOAT on the futures market yesterday, October 24, sending the altcoin’s price to a new all-time high. However, GOAT’s price has decreased by 24% in the last 24 hours, suggesting that the meme coin holders have begun to book profits.

After the Binance announcement, the cryptocurrency’s value jumped to $0.88. As of this writing, it has dropped to $0.65. On the 4-hour chart, the Moving Average Convergence Divergence (MACD) has dropped to the negative region.

The MACD is a technical oscillator used to detect trends. When the reading is positive, the momentum is bullish. On the other hand, a negative reading indicates a bearish movement.

Goatseus Maximus 4-Hour Analysis. Source: TradingView

Should the MACD remain in the negative region, GOAT’s price might drop to $0.58. However, if investors decide to buy the dip in large volumes, GOAT’s price might jump to $0.90.

Notcoin (NOT)

Telegram-native Notcoin is the new entry among today’s top trending cryptocurrencies. Similar to how Toncoin featured on the list yesterday, NOT is gaining traction due to its association with Telegram, as users eagerly await the launch of additional airdrops.

However, Notcoin’s price is down 74% from its all-time high, indicating that buying pressure around it has decreased. On the daily chart, Notcoin has formed a head and shoulders pattern and has dropped below the neckline.

This indicates that the downtrend could extend. Considering this position, NOT’s price could drop to $0.0071. On the flip side, if bulls push the altcoin above the neckline at $0.0077, then the price might rebound. In that scenario, Notcoin could move to $0.010 or as high as $0.012.

Notcoin Daily Analysis. Source: TradingView

Scroll (SCR)

This is the second time Scroll has appeared on the list of trending altcoins since its launch earlier this week. According to BeIncrypto’s findings, the project’s launch, which generated some controversy, is still the reason it is one of the top trending cryptos.

SCR launched at $1.45. However, as of this writing, it has fallen to $0.85, reflecting a loss of approximately 40% in value since its introduction. An analysis of the 1-hour chart reveals that the Awesome Oscillator (AO) has dipped into the negative region.

Scroll 1-Hour Analysis. Source: TradingView

This suggests that momentum around SCR remains bearish, indicating that the price may drop below $0.85 in the short term. Conversely, Scroll’s price could reverse this trend if broader market conditions improve or if an altcoin season emerges.

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