Several “old” cryptocurrencies made a surprise comeback over the weekend, while some meme coins struggled, with a few exceptions. As a result, one of the long-standing cryptocurrencies has reappeared in today’s trending altcoins..
The shift has also sparked renewed interest in the market, especially in tokens that have underperformed in recent months. According to CoinGecko, the top three most popular altcoins today are Gigachad (GIGA), Luckycoin (LKY) and MAD (MAD).
Gigachad (GIGA)
Since it was previously mentioned that most meme coins struggled over the weekend, GIGA is trending not because of rising prices. In fact, its value has dropped 20% in the last seven days.
However, it is part of today’s trending altcoins because popular meme coin analyst Murad continues to highlight it as one of the best tokens to hold. Additionally, the recent decline has sparked discussions in the market, with many believing that GIGA is in a strong accumulation point.
From a technical perspective, the 4-hour chart shows that the Solana meme coin continues to trade within a descending triangle. Although this is a bearish pattern, the token is close to support at $0.36.
If the price falls to this support, there is a chance that the bulls will be able to defend this region. If so, the cost could jump to $0.055. However, if it falls below the support line, GIGA could fall to $0.031.
Luckycoin (LKY)
A surprise entry into today’s altcoin trends is Luckycoin (LKY), a project launched in 2013 and recognized as the world’s first meme coin, from which Dogecoin (DOGE) was forked.
LKY is trending today thanks to its impressive price action. Its price, trading at $13.90, is up 65% in the last 24 hours and 420% in the last seven days. This rapid growth is likely due to buying pressure, especially since the altcoin’s total supply is limited to just 12.07 million coins.
With supply so low, even modest buying pressure can cause significant price fluctuations. However, according to the 1-hour chart, LKY price could see a noticeable pullback. This is largely due to the fall in the relative strength index (RSI).
As can be seen below, the RSI, which measures momentum, has fallen below the neutral line of 50.00. If the rating continues to fall, LKY could drop below $10. On the other hand, if buying pressure increases again, the altcoin could rise to $20.
MAD (MAD)
Last on the list is MAD, which also appeared in last week’s altcoin trend analysis. The altcoin is included in today’s list because its price has increased by 73% in the last 24 hours and by 332% in the last seven days.
This price increase, along with the increase in volume, indicates that the market appears to have strong interest in MAD. At the time of writing this article, the MAD price is $0.000045. Meanwhile, daily charts show that bulls have protected the price from falling below $0.000036.
With increased volume and accumulation, the altcoin is likely to move higher. If so, then MAD could rise to $0.000080. However, a fall below support could invalidate the forecast and the token could fall to $0.000032.
