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Macroeconomic policies in both the United States and Japan have driven bullish sentiment for Bitcoin, with the cryptocurrency experiencing a significant price rise this week following interest rate decisions by the Federal Reserve and the Bank of Japan. After the U.S. Fed opted to lower interest rates, Bitcoin’s value surged by over 11% by the end of the week, surpassing $62,000 for the first time in September.
Despite Bitcoin’s impressive rally, 42 other cryptocurrencies have outpaced it this year, with meme coins leading the charge. Data from Lookonchain reveals that eight of the top ten best-performing tokens are meme coins, many of which are built on Ethereum. Hence, This article curates the most trending cryptocurrencies on Ethereum.
Most Trending Cryptocurrencies on Ethereum
OnlyUP ($UP) seeks to go beyond the meme token label, presenting itself as a broader movement. Meanwhile, the Fuse Token (FUSE) is currently valued at $0.0133, boasting a market capitalization of $10.22K, though its 24-hour trading volume is a modest $0.6725.
The Bee/USD market shows signs of consolidation, with prices moving within a tight range. Pepe Unchained (PEPU) has recently gained traction in the crypto world, driven by the success of its presale and its developer grant program. Binance founder Changpeng Zhao is expected to be released after four months.
1. OnlyUp (UP)
OnlyUP ($UP) aims to be more than a meme token, positioning itself as a movement. Built on the Ethereum blockchain, it uses a unique tokenomics model to drive growth, encourage community participation, and create real-world impact.
Currently, OnlyUP is priced at $0.00321 with a market cap of $3.21 million. Its 24-hour trading volume stands at $711,420, reflecting a sharp 59,999.10% increase. With a circulating supply of 1 billion tokens, the project has reached its full token supply.
The price chart from DEXTools.io shows a sharp price surge. The token jumped from around $0.0005 to over $0.002, represented by a large bullish candlestick. This spike points to significant buying pressure. Following this rise, the price entered a consolidation phase near the $0.0030 level. Smaller candlesticks during this period indicate market indecision.
Trading volume surged alongside the price increase, signaling strong market activity. However, as the price stabilized, trading volume dropped considerably. This decline suggests fewer trades, indicating that traders may be waiting for further signals before taking action.
The market sentiment is cautiously optimistic. The sharp price rise shows bullish momentum, but the consolidation phase signals a period of uncertainty. Hence, traders are likely watching for either a breakout or a retracement.
OnlyUP ($UP) shows potential for growth and community engagement, backed by its structured tokenomics. The recent price movement reflects a bullish trend, but the current consolidation phase requires careful monitoring. Moreover, the project’s focus on charity adds an extra layer of value, though future price action will depend on market dynamics and external factors.
2. Fuse Token (FUSE)
The Fuse Token (FUSE) is currently priced at $0.0133, with a market cap of $10.22K and a 24-hour trading volume of just $0.6725. Notably, there has been a significant increase in trading activity, with volume rising by 30,916.77% over the last day. The total circulating supply is 770.01K FUSE tokens, matching its maximum supply.
A closer look at the recent price movements shows a sudden and sharp decline, as illustrated by a large red candlestick on the 15-minute price chart for the FUSE/USD pair. Initially, the price peaked at $0.01440 before dropping steeply to $0.00004295 in a single candlestick, signaling a massive drop. Since then, the price has recovered slightly to $0.01332, marking a 7.51% drop overall.
The extended red wick indicates high volatility, as the price momentarily hit extreme lows before bouncing back. However, this significant price movement happened with a very low trading volume (just one trade), which suggests a lack of liquidity in the market. In low-volume environments like this, even a small number of trades can create dramatic price swings.
Fuse has integrated with @Orbiter_Finance's decentralized cross-rollup bridge! 🛸
You can now bridge $ETH and $USDC to Fuse with fast, cheap and transparent cross-chain transfers across 50+ L2s.https://t.co/UBLpeVkjJt
— Fuse Network (@Fuse_network) September 20, 2024
From a technical perspective, the level around $0.01400 could act as resistance, as the price has struggled to return to that point after its decline. Meanwhile, the brief touch at $0.00004295 may serve as temporary support, though this level was only tested momentarily and may not hold in future trades.
3. Bee (Bee)
The current Bee/USD market displays signs of consolidation, with prices fluctuating within a narrow range. The live price is $0.00619, with a market cap of $6.36 million and a 24-hour trading volume of $4.25 million, indicating a notable increase in activity.
Specifically, the price has remained between $0.006101 and $0.006339, with only minor shifts. This indicates a period of relative stability. Furthermore, the market has experienced slight volatility, particularly around 12:00 PM and 3:00 PM. During these periods, the price briefly attempted to break out of the range but quickly returned to similar levels. This could indicate temporary price fluctuations or minor buying and selling pressure.
In terms of candlestick patterns, the chart reveals an ongoing struggle between buyers and sellers. Small green and red candles dominate, reflecting a balanced market without decisive movement in either direction. Additionally, larger green candles appeared around 6:00 AM and 12:30 PM, indicating buying attempts, though these were followed by retracements, which ultimately resulted in continued price stagnation.
Regarding trading volume, activity has been moderate overall. There was a notable spike between 12:00 PM and 12:30 PM; however, despite this increase, the price did not experience a strong breakout. This suggests that the higher volume may have been balanced between buying and selling, contributing to the market’s overall stability.
From a technical analysis perspective, the price has found support around $0.006100 and faces resistance near $0.006340. This range-bound behavior implies that traders are buying near support and selling at resistance, yet they are not pushing the market beyond these levels.
What Might Be The Next Top Trending Crypto?
Pepe Unchained (PEPU) has recently gained attention within the crypto space, largely due to its successful presale and its developer grant program. The project has raised $16 million and plans to launch a Layer-2 network specifically designed for meme coins. This network aims to offer faster transaction speeds and reduced fees compared to Ethereum while maintaining a focus on security.
To support its ecosystem, Pepe Unchained has introduced a developer grant initiative called “Pepe Frens with Benefits.” This program encourages the development of decentralized applications (dApps), NFTs, and DeFi tools, providing developers with resources ahead of the platform’s launch. This strategic move is expected to help the platform build a strong foundation of practical applications, which is essential in an increasingly competitive Layer-2 space.
Boom! $16M raised!
Pepe Unchained keeps smashing records, and we’re not slowing down! 🌊 pic.twitter.com/Qtkw0w0n85
— Pepe Unchained (@pepe_unchained) September 28, 2024
On the investor side, Pepe Unchained has attracted growing interest with its APY of 133%. Currently, tokens are available at $0.00987, with support from market experts, which has increased the project’s visibility. Additionally, the project has garnered attention from crypto whales, with large investments such as 23 ETH and 10 ETH buys. Such activity often reflects increased confidence in the project and is generally viewed as a positive indicator of its future growth.
Overall, Pepe Unchained is positioning itself as a serious contender in the meme coin space, combining technical development with investor interest. However, as with any emerging project, its success will depend on its execution and the broader market environment.
Read More
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- Layer 2 Meme Coin Ecosystem
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- SolidProof & Coinsult Audited
- Staking Rewards - pepeunchained.com
- $10+ Million Raised at ICO - Ends Soon
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