Most altcoins did not achieve significant gains over the weekend. However, as the new week begins, one of the most closely watched cryptocurrencies has seen its price rise, while the other two have declined in the past 24 hours.
According to CoinGecko, the altcoins in focus today are KOALA AI (KOKO), Goatseus Maximus (GOAT), and Sui (SUI). Let's take a look at their current popularity and price outlook.
KOALA AI (KOKO)
Last week, KOALA AI appeared on the list of trending altcoins due to its remarkable price increase. Today, KOKO's price has risen by 28% in the past 24 hours and is attracting attention due to the high interest in the AI+meme coin narrative.
Despite the upward trend, the KOKO/USDT daily chart suggests that this altcoin may lose some of its gains. This is because the Relative Strength Index (RSI) has declined.
Generally, a decline in this indicator signals a bearish trend. If this trend continues, the price of KOALA AI could drop to $0.0000035.
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However, if profit-taking subsides, this scenario may not occur. Instead, the cryptocurrency's price could rise to $0.0000086.
Goatseus Maximus (GOAT)
GOAT has been one of the cryptocurrencies in focus today, primarily due to the success of the AI called Truth Terminal becoming a crypto millionaire. Following this development, GOAT's price has surged by 78% over the past week.
The altcoin's value has decreased in the past 24 hours. However, it continues to attract attention due to the widespread speculation that its market capitalization could soon reach $1 billion. From a technical perspective, the Balance of Power (BoP) indicates that the bulls are determined to push the value higher.
BoP shows whether the buying pressure is greater or if the sellers are in control. If the indicator declines, the sellers are dominant. However, the rapid increase in the indicator on the 4-hour chart suggests that the price could move higher.
If this trend continues, GOAT's value could rebound to $0.90. However, if it is rejected at $0.71, this prediction will be invalidated, and the price could drop to $0.48.
Sui (SUI)
It is not surprising to market observers that Sui is one of the cryptocurrencies in focus today, considering its outstanding performance among altcoins in recent months. However, the main reason for Sui's current attention is the upcoming token unlock, where over $100 million worth of SUI tokens are expected to be released into circulation.
Token unlock events can often trigger volatility, significantly impacting the token's supply dynamics. An increase in circulating supply could exert downward pressure on the price if holders choose to sell, but traders may also increase demand in anticipation of potential price fluctuations.
Additionally, if demand is lower than supply at that time, the price is more likely to decline. Currently, SUI's price is $1.73, down 17% over the past week. The daily chart shows the altcoin has formed a head and shoulders pattern, transitioning from an uptrend to a downtrend.
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Considering the supply shock, SUI's price is more likely to decline further. In this scenario, the price of SUI could drop to $1.44. However, if strong buying pressure emerges, the price could rebound and surpass $2.
