19.12.2024 19:50
In the last 24 hours, a series of liquidations occurred in the cryptocurrency market, causing many altcoins to drop to weekly low levels. As a result of these widespread declines, the prices of two out of the three most popular altcoins today have significantly decreased. However, the third altcoin has recorded a notable increase. According to CoinGecko data, we have compiled the trending altcoins for you today.
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Fuel Network (FUEL)
Fuel Network is an Optimistic Rollup project built on Ethereum and uses FUEL as its native cryptocurrency. FUEL is one of the trending altcoins today because it recently held a Token Generation Event (TGE). Additionally, Fuel Network announced that it would distribute 10% of its total supply as an airdrop to early users.
The price of FUEL was around $0.069 when it hit the market. However, it has now dropped to $0.046, reflecting a decrease of 30.50%. This decline may be associated with the weak performance of the overall altcoin market and the selling pressure that occurred after the airdrop.
The market capitalization of the Layer-2 project is currently at $163.52 million. If buying demand increases, this value could rise. However, if airdrop recipients start selling their tokens, the pressure on the price may continue.
Akuma Inu (AKUMA)
Unlike FUEL, Akuma Inu is a meme coin developed on the Base network and has become one of the trending altcoins due to its price increase. In the last 24 hours, the price of AKUMA has risen by 53.60%, which is attributed to increasing buying demands.
Currently, the price of AKUMA is at $0.00023. If the meme coin continues to attract more interest, the price could rise further. However, investors need to be cautious; if current AKUMA holders sell to realize profits, this could reverse the trend and the price could drop below $0.00020.
Pudgy Penguins (PENGU)
The third most popular altcoin today is PENGU, the native token of the Pudgy Penguins NFT collection. PENGU, which was also popular on December 18, gained attention due to the airdrop that occurred at the beginning of the week.
However, similar to the previous selling wave, the price of PENGU has decreased by 5.50% in the last 24 hours, falling to $0.032. It seems that PENGU is still in the price discovery phase.
If selling pressure increases, the price of the Pudgy Penguins token could drop to $0.026. However, if a new liquidity flow is provided, the price could rise to $0.040.
Ultimately, these three altcoins have emerged in the market with different dynamics. However, investors need to carefully assess market conditions in both buying and selling decisions.
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