Meme coins continue to dominate the trending altcoin landscape, emphasizing the meme coin supercycle in the cryptocurrency market.
BeInCrypto reports that interest and price increases have driven the popularity. As of November 19, the trending altcoins are ai16z(AI16Z), Sui(SUI), and Ponke(PONKE).
ai16z (AI16Z)
AI16Z, a token based on the story of an artificial intelligence agent, is one of the trending altcoins. Over the past 7 days, the price of AI16Z has increased by 345%. However, it has declined by 26% in the last 24 hours.
On the 1-hour chart, the Relative Strength Index (RSI) has fallen below the 50.00 neutral line, indicating a bearish trend around the altcoin. If this persists, the price of AI16Z could drop to $0.20.
However, if the trend reverses, the situation could change. In that scenario, the altcoin's price could rise to $0.60.
Sui (SUI)
SUI has once again made it to the list of trending altcoins as its trading volume continues to increase. However, the price of the altcoin has been maintaining the same range since yesterday — particularly around $3.73.
Nevertheless, the Moving Average Convergence Divergence (MACD) indicator remains positive. MACD is a technical indicator that measures momentum. When positive, the momentum is bullish.
On the other hand, a negative MACD reading suggests a bearish trend. The former indicates that the price of SUI could rise above $4. However, if selling pressure increases, this outlook may change, and the altcoin could fall below $3.
Ponke (PONKE)
The final entry in the list of trending altcoins is PONKE, a Solana-based meme coin. Ponke is trending because Bithumb, a South Korean cryptocurrency exchange, announced that it would list the token.
As a result, the price of PONKE has increased by 11% and is just 5% away from reaching an all-time high. On the 4-hour chart, the Bull Bear Power (BBP), which measures the strength of buyers and sellers, indicates that the bulls are in control.
If this state persists, PONKE could rise above $0.79 to $0.85. However, if the bears take control, this may not happen, and the altcoin could instead drop to $0.69.
