Meme Coins Continue to Dominate the Market, Highlighting the Ongoing Meme Coin Supercycle

BeInCrypto reports that the surge in interest and price appreciation has fueled their popularity. As of November 19, the top trending altcoins are ai16z (AI16Z), Sui (SUI), and Ponke (PONKE).

Meme coins are having a moment again, as evidenced by their dominance among today’s trending altcoins. This highlights the ongoing meme coin supercycle in the crypto market.

According to BeInCrypto, the surging interest and price appreciation have fueled the popularity of these altcoins. As of November 19, the top trending altcoins are ai16z (AI16Z), Sui (SUI), and Ponke (PONKE).

Let’s take a closer look at each of these altcoins and analyze their recent price movements.

ai16z (AI16Z) is one of the trending altcoins today due to its status as a token that is built on the buzzing narrative of AI agents. Over the last seven days, the AI16Z price has surged by 345%. However, it has experienced a drop of 26% within the last 24 hours.

On the 1-hour chart, the Relative Strength Index (RSI) has fallen below the 50.00 neutral line, indicating bearish momentum around the altcoin. If this bearish momentum continues, the AI16Z price could decline toward $0.20.

However, this outlook could change if momentum turns bullish. In that scenario, the altcoin’s price could jump toward $0.60.

Sui (SUI) is once again on the list of trending altcoins, as its volume continues to climb. However, the altcoin’s price has hovered around the same region since yesterday — notably at $3.73.

Despite this, the Moving Average Convergence Divergence (MACD) reading has stayed positive. The MACD is a technical oscillator that measures momentum. When it is positive, momentum is bullish.

On the other hand, a negative reading of the MACD suggests that the reading is bearish. Since it is the former, this indicates that the SUI’s price might continue to climb — this time, above $4. However, if selling pressure rises, this outlook could change, and the altcoin might drop below $3.

Ponke (PONKE) is the last on the list of trending altcoins. As a Solana-based meme coin, Ponke is trending primarily because Bithumb, the South Korean-based crypto exchange, has announced the listing of the token.

As a result, PONKE’s price has surged by 11% and 5% away from hitting a new all-time high. On the 4-hour chart, the Bull Bear Power (BBP), which measures the strength of buyers to sellers, indicates that bulls are in control.

If this remains the case, PONKE could climb above $0.85 from $0.79. However, if bears take control, this may not happen, and the altcoin could decline to $0.69.