Altcoins Trending Today See Price Increases, a Stark Contrast to Declines Seen Over the Past Two Days

This price increase could be linked to a rise in liquidity flowing into the market. According to CoinGecko, the altcoins trending today are RabBitcoin (RBTC), Pudgy Penguins (PENGU), and Usual (USUAL).

The cryptocurrency market continues to experience rapid fluctuations, with a noticeable shift in trend compared to the past two days.

Altcoins, a class of cryptocurrencies excluding Bitcoin, have seen a collective price increase, offering a stark contrast to the declines observed recently.

This price surge could be attributed to an influx of liquidity into the market. As reported by CoinGecko, the following altcoins are currently trending based on their price movements.

RabBitcoin (RBTC)

Also known as Rocky Rabbit, RabBitcoin is an altcoin that emerged from a Telegram mini-app and has seen a 17% price increase in the last 24 hours, contributing to its trending status.

On the daily chart, RBTC has been trading within a descending triangle pattern from November to December 22. This descending channel is typically considered a bearish chart pattern.

However, at press time, the altcoin is displaying a breakout from this pattern, suggesting that the cryptocurrency’s value might continue to trade higher.

If this trend continues, RBTC’s price could rally to $0.000013 in the short term. Conversely, if the price falls back into the descending triangle, this might not be the case, and the token could sink to $0.0000029.

Pudgy Penguins (PENGU)

Like RBTC, PENGU’s price has seen a significant increase of 22.90% in the last 24 hours. Previously, the altcoin’s price has been declining ever since the Pudgy Penguins airdrop, causing PENGU to slip to $0.023.

However, at the time of writing, the value has jumped to $0.034 due to rising demand for the token. According to the 4-hour chart, PENGU has seen a surge in the Money Flow Index (MFI) reading.

This notable increase is a sign of more buying pressure. If this remains the case, then PENGU’s value could jump to $0.044 in the short term.

However, if profit-taking becomes more prevalent, this trend might change. In that case, the token’s value could decline to $0.022, and it may no longer be among the altcoins trending today.

Usual (USUAL)

Also airdropping tokens to some of its early users, USUAL is among the altcoins trending today due to a price increase. Within the last 24 hours, USUAL’s value has increased by 25%.

The notable increase could be linked to the report that several cryptocurrency exchanges, including Binance, have invested in the project.

BeInCrypto’s assessment of the 4-hour chart shows that its structure is similar to that of PENGU. If the trends follow each other, the altcoin’s value could climb to $1.65.

On the flip side, selling pressure might invalidate this prediction. If USUAL holders decide to book profits, the uptrend might experience a pullback, and the value might decline to $0.92.