Today, December 18th, the cryptocurrency market is moving sideways as many altcoins have yet to gain a clear direction. Because of this movement, today’s trending altcoins are also in the same boat.
But the good thing is that not all of them have reduced prices. According to CoinGecko, the trending altcoins today are Pudgy Penguins (PENGU), Hyperliquid (HYPE) and Happy Cat (HAPPY).
Plump Penguins (PENGU)
PENGU, a token released by the Pudgy Penguins NFT collection, tops the list of popular altcoins today, mainly due to its launch and airdrop yesterday. As BeInCrypto previously reported, the PENGU airdrop led to a noticeable drop in the value of altcoins.
However, although some hope for a recovery, this has not happened. At the time of writing this article, the Pudgy Penguins token price is $0.35, which represents a 50% decline in the last 24 hours.
Despite the decline, the hourly chart shows that the token appears to be on the path to recovery. As you can see below, volume has increased and if this continues, the price of the altcoin could rise to $0.055.
But if the selling pressure continues to apply to him, this may not happen. In this case, PENGU may fall below $0.025.
Hyperliquid (HYPE)
For several weeks, HYPE continues to hold its position as the most popular altcoin. However, unlike previous cases, the value of the altcoin has not increased significantly over the past 24 hours. Instead, the value fell slightly by 3.40%.
The decrease in value may be due to low demand for Hyperliquid’s native token. Demand has already been high, with predictions circulating that the altcoin could reach $50 in the short term.
However, at the time of writing, it is $27.15. If demand continues to fall, HYPE’s price could drop to $20. But if buying pressure increases and volumes in the hyperliquid market jump, the trend may change and the price may rise.
Happy Cat (HAPPY)
The latest on the list of popular altcoins today is Happy Cat, a meme coin based on Solana. HAPPY is trending right now because it is one of the few cat-themed meme coins that has increased in price in the last 24 hours.
On the 4-hour chart, HAPPY is struggling to maintain its gains. As a result, the price is on the verge of falling below the 20- and 50-period exponential moving averages (EMA). If confirmed, the price of the altcoin could drop to $0.010.
However, if the demand for the meme coin increases again, this forecast may not be confirmed. In this case, the price of HAPPY may rise to $0.018.
