Today's trending altcoins include two meme coins connected to artificial intelligence (AI) and a recently highlighted new cryptocurrency.
However, only one of the three experienced a noticeable price increase, while the others declined in value over the past 24 hours. According to CoinGecko data, the top three trending altcoins are Goatseus Maximus (GOAT), Scroll (SCR), and KOALA AI (KOKO).
Goatseus Maximus (GOAT)
GOAT is leading the pack of today's trending altcoins thanks to its impressive price surge. Over the past 24 hours, GOAT's price has skyrocketed by 55%, recovering the losses it experienced a few days ago. This surge has propelled the cryptocurrency, which benefits from the popular AI and meme coin narratives, to a new all-time high of $0.68.
Furthermore, according to BeInCrypto's analysis, this impressive rise is linked to increased whale buying. Today, Lookonchain reported that a single wallet purchased $3.39 million worth of GOAT, which likely exerted upward pressure on the price.
From a technical perspective, the Accumulation/Distribution (A/D) line suggests that the market continues to buy GOAT. If this trend persists, the altcoin's value could surpass $0.70 and approach $1.
However, this is only the case if the bulls continue to receive support at $0.42. Conversely, if token holders massively realize their profits, the price could drop to $0.26.
Scroll (SCR)
On Tuesday, October 22nd, Scroll emerged as one of the trending altcoins, and it remains on the list today for similar reasons. According to CoinGecko, SCR's price has declined by 16% over the past 24 hours, indicating that Airdrop recipients of the project may be selling their allocations.
Currently, Scroll's price is $1.02 on the 1-hour chart. However, the trend suggests potential downside, and the price could fall below $1. If the downtrend continues, it may move towards $0.85.
However, if market participants decide to buy the dip, the situation for SCR could change. In that case, the price could rebound to $1.30.
KOALA AI (KOKO)
KOALA AI has been included in the list of trending altcoins for the third consecutive time. This is for the same reason as GOAT's inclusion. However, unlike Goatseus Maximus, KOKO's price has declined by 4.70% over the past 24 hours.
Nevertheless, the Awesome Oscillator (AO), which measures momentum, has turned positive. This positive reading suggests that market participants have started to buy the dip in KOKO. If this trend continues, the altcoin's price could rise to $0.0000086.
On the other hand, if the momentum reverses to the downside, the forecast may be invalidated. In that case, the price of KOALA AI could drop to $0.0000035.
