Pudgy Penguins (PENGU), Hyperliquid (HYPE), and Happy Cat (HAPPY) Top the List of Altcoins Trending Today

Today, December 18, the crypto market is swinging sideways as many altcoins have yet to get a clear direction.

Crypto prices have stalled today, December 18, with most altcoins yet to get a clear direction. This movement has also affected the altcoins trending today.

However, not all of the altcoins have seen their prices decline. According to CoinGecko, the altcoins trending today include Pudgy Penguins (PENGU), Hyperliquid (HYPE), and Happy Cat (HAPPY).

Pudgy Penguins (PENGU)

PENGU, the token launched by NFT collection Pudgy Penguins, is among the altcoins trending today, mainly because of its launch yesterday and airdrop. As BeInCrypto earlier reported, the PENGU airdrop caused a significant drop in the altcoins’ value.

However, while some might expect it to recover, it hasn’t. At the time of this writing, the Pudgy Penguins token price is $0.35, which shows a 50% decline in the last 24 hours.

Despite the decline, the one-hour chart shows that the token seems to be recovering. As you can see below, the volume has increased, and if it continues that way, the altcoin’s value might rise toward $0.055.

But if selling pressure continues to hit it, that might not happen. In that scenario, PENGU could decrease below $0.025.

Hyperliquid (HYPE)

For weeks, HYPE has continued to hold its position as a top trending altcoin. But unlike previous times, the altcoin’s value did not record a significant hike in the last 24 hours. Instead, the value slightly decreased by 3.40%.

The decrease in value could be linked to low demand for the Hyperliquid native token. Earlier on, the demand was high, with predictions spreading that the altcoin could reach $50 in the short term.

However, at the time of this writing, it is $27.15. If demand continues to fall, HYPE’s price might decline toward $20. But if buying pressure increases and volume in the Hyperliquid market jumps, the trend might change, and the price might increase.

Happy Cat (HAPPY)

Last on the list of altcoins trending today is Happy Cat, a meme coin built on Solana. HAPPY is trending because it is one of the few cat-themed meme coins whose price increased in the last 24 hours.

On the 4-hour chart, HAPPY is struggling to hold these gains. As a result, the price is on the brink of falling below the 20 and 50-period Exponential Moving Averages (EMA). If validated, then the altcoin’s value might drop to $0.010.

However, if demand for the meme coin rises again, this prediction might not be validated. In that case, HAPPY’s price might climb to $0.018.