Top Trending Crypto Coins on DEXTools

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The cryptocurrency market is undergoing a second consecutive day of correction. The result is directly reflected on the DEXTools charts. The most trending coins must cross several hurdles to secure their place amidst the current downturn. One of the huddles is dwindling risk appetite among investors as the year draws to a close

Investors’ risk appetite is directly affected by global economic and political events that affect the market’s mood. The last 24 hours saw quite a change, but investors can only do their best to hold on tight.

The primary Canadian stock index surged to an eight-week peak on Friday, fueled by a rebound in oil prices that lifted energy shares. Additionally, promising domestic producer price data contributed to growing optimism, hinting after the Bank of Canada’s interest rate hikes.

Closing at 20,175.77 points, the Toronto Stock Exchange’s S&P/TSX composite index (.GSPTSE) saw a climb of 122.70 points or 0.6%, marking its highest closing level since September 20.

Throughout the week, the index demonstrated a 2.7% increase, supported by recent U.S. economic indicators that buoyed hopes of the Federal Reserve wrapping up its tightening cycle.

In October, Canadian producer prices experienced a 1% decline from September, aligning with recent indications of a cooling inflation trend.

The energy sector (.SPTTEN) surged by 2.8% as crude oil prices returned from a four-month low. U.S. crude oil futures settled 4.1% higher at $75.89 a barrel, contributing to the sector’s rally.

1. Cybertruck (TRUCK)

Unexpected sources often spark innovative creations in the crypto space. Amidst the plethora of memecoins that blend creativity and tech, one standout is the Cybertruck Coin, a tribute to Tesla’s groundbreaking electric pickup that revolutionized the automotive industry.

At its core, the Cybertruck Coin pays homage to the game-changing Cybertruck, unveiled in 2019. This vehicle disrupted conventional norms of electric cars and reshaped the automotive landscape. Embodying the essence of innovation and forward vision, the Cybertruck Coin draws inspiration from this iconic creation.

The impact of the Cybertruck extends beyond its wheels; it symbolizes a transition towards sustainable transport and futuristic design. With its unique angular stainless-steel structure and cutting-edge features, the Cybertruck signifies a paradigm shift in the auto industry.

History was made in July 2023 with the first Cybertruck rolling off the Gigafactory Texas production line. An October announcement confirmed deliveries starting in late November 2023, cementing this milestone.

The TRUCK token operates ingeniously with a supply burn mechanism, steadily reducing its token supply. Setting itself apart from traditional methods, TRUCK uses an automated system that burns tokens directly from the liquidity pool hourly without imposing taxes. This unique feature underscores a commitment to sustainable deflationary measures while ensuring the token holders are unburdened.

https://twitter.com/CybertruckETH/status/1725836533574611280?s=20

The Cybertruck Coin, represented by TRUCK, stands as a symbol of innovation, community-driven governance, and sustainable growth in the crypto realm. Amidst the evolving crypto mobility landscape, TRUCK remains steadfastly focused on pioneering technology, transparency, and community engagement.

2. Bypass (BYPASS)

Bypass (BYPASS) currently stands at $1.94, with a 24-hour trading volume of $248.74 million. This reflects a substantial 26.29% surge in the last 24 hours, although a recent decline of 17.89% over the past seven days. However, the circulating supply of BYPASS tokens and the market capitalization are unavailable. Despite those reasons, BYPASS remains a top-trending cryptocurrency.

The highest recorded price for Bypass (BYPASS) was $3.72 on Nov 08, 2023, indicating that the current price is approximately 48.58% lower than its all-time high. Conversely, the lowest price recorded for BYPASS was $0.282308 on Nov 03, 2023, marking a staggering increase of 577.75% from its all-time low.

The fully diluted valuation (FDV) of Bypass (BYPASS) stands at $1.94 million. This estimation represents the potential maximum market capitalization, assuming the total supply of 1 Million BYPASS tokens is currently in circulation. Depending on the token emission schedule, it may take several years to realize this potential FDV.

https://twitter.com/BypassERC20/status/1725575501358497853?s=20

Bypass (BYPASS) has declined 17.90% in the last seven days compared to peers. This performance is seen as underperforming in contrast to the broader global cryptocurrency market, which experienced a decline of 1.90%. Moreover, when measured against similar cryptocurrencies within the Ethereum Ecosystem, it has also exhibited an underperformance, as these related tokens have increased by 12.70%.

As for the current market sentiment, it appears bullish for Bypass (BYPASS) today, with more than 83% of users expressing positive feelings about the token’s outlook.

3. DORK (DORK)

While BYPASS gained in the last 24 hours, the story differed for DORK. The current price for this asset stands at $0.00004882, with a 24-hour trading volume of $274,324. This reflects a recent decline of 8.68% within the last 24 hours and a substantial 35.41% decrease over the past seven days.

The highest price for DORK (DORK) was $0.00023426 on Nov 05, 2023. The current price is approximately 79.18% lower than this all-time high figure. Conversely, the lowest recorded price for DORK (DORK) was $0.00001255 on Nov 03, 2023, indicating an increase of 288.56% from its all-time low.

Regarding the fully diluted valuation (FDV) of DORK (DORK), it stands at $4,898,281, representing the potential maximum market cap with an assumed circulation of 100 Billion DORK tokens.

Do you smell it…? BECAUSE IT IS COMING…$DORK 🐍 🚀 https://t.co/BVQXO2hP4H

— $DORK (@ERC20Dork) November 17, 2023

Comparing its price performance against its peers, DORK (DORK) has declined by 35.50% in the last seven days. This indicates underperformance in contrast to the broader global cryptocurrency market, which experienced a decline of 1.90% during the same period. Additionally, when measured against similar cryptocurrencies within the Ethereum Ecosystem, DORK has also shown underperformance, as these related tokens have increased by 12.70%.

Nevertheless, the market sentiment for DORK (DORK) appears bullish. Over 71% of users expressed positive sentiments about the token’s prospects. A further push from investors is required to make the token its position as the top-trending coin.

What Might Be The Next Top Trending Crypto?

SpongeBob (SPONGE) is one of the few memecoins in the market that has remained relatively consistent in its ascent. Its price currently stands at $0.00038467, accompanied by a 24-hour trading volume of $867,601. This marks a noteworthy increase of 7.22% within the past 24 hours and a substantial 45.38% surge over the previous seven days. However, information on the circulating supply of SPONGE tokens and the market capitalization is unavailable.

The highest price ever paid for SpongeBob (SPONGE) was $0.00092768, recorded on May 10, 2023, roughly six months ago. The current price is approximately 58.57% lower than this historical peak. On the other end, the lowest price recorded for SpongeBob (SPONGE) was $0.00008794 on Oct 14, 2023, approximately a month ago, indicating an increase of 337.03% from its all-time low.

The fully diluted valuation of SpongeBob (SPONGE) is estimated at $15,527,151, assuming the maximum circulation of 40 Billion SPONGE tokens. The realization of this FDV might span multiple years, contingent upon the emission schedule of SPONGE tokens.

Normal people will never understand #Crypto #Web3 #Alts #SPONGE pic.twitter.com/WYw47j6B7J

— $SPONGE (@spongeoneth) November 17, 2023

Regarding its price performance among its peers, SpongeBob (SPONGE) has exhibited an impressive increase of 45.40% over the past seven days. This noteworthy performance surpasses the broader global cryptocurrency market, which experienced a decline of 2.00% during the same period. Additionally, compared to analogous cryptocurrencies within the Ethereum Ecosystem, SpongeBob has also showcased strong outperformance, as these related tokens demonstrated an increase of 12.70%.

The market sentiment for SpongeBob (SPONGE) appears bullish, with more than 90% of users expressing positive sentiments about the token’s prospects.

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