Today is Boxing Day and the overall cryptocurrency market capitalization has fallen by 4.60%, impacting both Bitcoin (BTC) and altcoins. Despite this, two of the three trending altcoins saw double-digit price increases, according to CoinGecko.
As of today, December 26th, some of the most popular cryptocurrencies include Tema (TEMA), Pudgy Penguins (PENGU) and RabBitcoin (RBTC).
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Yesterday, on Christmas Day, TEMA became a trending altcoin as its price increased. At the time of writing, it is trending again due to rising volume around it as the price has risen 20% in the last 24 hours.
TEMA price is $0.060 as recently predicted by BeInCrypto. From a technical perspective, the volume around cryptocurrency continues to grow. If this trend continues, the value of the token could rise to $0.065 in the short term.
If volume continues to rise, the TEMA price could rise much higher and jump to $0.10. However, if selling pressure increases, the situation may change. Instead, the value of the meme coin could drop to $0.043.
Plump Penguins (PENGU)
Pudgy Penguins (PENGU), launched this month, is trending for a notable reason – it has become Solana’s meme coin with the highest market cap. As of this writing, its market cap is $2.54 billion, which is larger than Bonk (BONK) and Dogwifhat (WIF).
This turnaround occurred due to their respective price points. While WIF and BONK prices fell by 6%, PENGU price increased by 15.70% in the last 24 hours.
On the 4-hour chart, bulls are defending support at $0.037. If this continues, the altcoin could rise above $0.43 in the short term.
However, if the bears push the price below this support, this may not happen. Instead, the price of the cryptocurrency could drop to $0.029.
RabBitcoin (RBTC)
Unlike the other two popular altcoins, RabBitcoin is the only one whose price has decreased in the last 24 hours. During this period, the price of RBTC decreased by 7.50% due to the sell-off around the altcoin.
On the daily chart, the token is trading inside a descending triangle. A descending triangle is a bearish technical analysis pattern characterized by two trend lines. The first downward upper trend line slopes downward as price action makes lower highs.
The second is a flat horizontal lower trend line, which represents a support level that price tests several times. Since the price of RBTC failed to rise above the upper trend line, this suggests that the price of the altcoin could decline to $0.0000029.
On the other hand, RabBitcoin price could rebound if bulls push the altcoin above the upper trend line. In this case, RBTC could rise to $0.0000014.
