As expected, the cryptocurrency market is changing very rapidly. The altcoins that have trended today have all seen price increases. This is in contrast to the declines of the past two days.
This price increase may be related to the increase in liquidity flowing into the market. According to CoinGecko, the altcoins that have trended today are RabBitcoin (RBTC), Pudgy Penguins (PENGU), and Usual (USUAL).
RabBitcoin (RBTC)
RabBitcoin, also known as Rocky Rabbit, is an altcoin that started from a Telegram mini-app. Its price has increased by 17% in the last 24 hours, putting it in the current trend.
On the daily chart, RBTC has been trading within a descending triangle since November until December 22nd. The descending channel is a bearish pattern. However, at the time of reporting, this pattern has been broken, suggesting that the cryptocurrency's value can continue to rise.
In that case, RBTC's price could rise to $0.000013 in the short term. However, if the price returns to the descending triangle, it may not. In that case, the token could drop to $0.0000029.
Pudgy Penguins (PENGU)
Similar to RBTC, PENGU's price has increased by 22.90% in the last 24 hours. Previously, the altcoin's price had been declining after the Pudgy Penguins airdrop, causing PENGU to drop to $0.023.
However, at the current point, due to increased demand for the token, it has risen to $0.034. According to the 4-hour chart, PENGU has shown a sharp rise in the Money Flow Index (MFI) reading.
This notable increase is a signal of increased buying pressure. If this continues, PENGU's value could rise to $0.044 in the short term.
However, if profit-taking increases, this trend may change. In that case, the token's value could drop to $0.022, and it may no longer be one of the altcoins that have trended today.
Usual (USUAL)
USUAL is an altcoin that has airdropped tokens to early users, and it has trended today due to a price increase. Over the last 24 hours, USUAL's value has increased by 25%. This notable increase may be related to reports that several exchanges have invested in the project.
According to BeInCrypto's 4-hour chart evaluation, its structure is similar to PENGU. If the trends follow each other, the altcoin's value could rise to $1.65.
On the other hand, selling pressure could invalidate this prediction. If USUAL holders decide to realize their profits, the uptrend may undergo a correction, and the value could drop to $0.92.
