Top Trending Crypto Coins on DEXTools

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This week, a shift in investor sentiment has sparked a trend favoring alternative cryptocurrencies, commonly known as altcoins. This came as the spotlight shifted away from the leading cryptocurrency. This market behavior, termed “capital rotation,” is familiar within the crypto space and has historically triggered gains for prominent altcoins.

Layer 1 blockchains, the foundation of various cryptocurrencies, experienced notable gains amid this capital rotation. Cardano (ADA), Avalanche (AVAX), and Algorand (ALGO) emerged as beneficiaries, with respective rises of 15%, 33%, and 11% recorded over the period, as per data analyzed by S&P Global Market Intelligence.

Although Bitcoin maintains its position as the premier cryptocurrency, its momentary decline in interest has led to increased attention on these alternative digital assets.

The global cryptocurrency market cap currently stands at $1.6 trillion, marking a marginal 0.32% decrease over the past day. Concurrently, the total trading volume within the crypto sphere over the last 24 hours dipped to $59.06 billion, reflecting a 14.11% reduction. Of this volume, the decentralized finance (DeFi) sector accounts for $8.08 billion, representing 13.68% of the overall crypto market’s 24-hour trading volume. Stablecoins continue to dominate, contributing $52.92 billion, comprising 89.61% of the total crypto market’s daily trading volume.

Bitcoin’s dominance in the market currently sits at 51.69%, marking a slight 0.21% decrease within the day. This decline signals a temporary retreat in Bitcoin’s influence compared to the surging interest in alternative cryptocurrencies amid the ongoing capital rotation.

1. Pepe (PEPE)

Pepe (PEPE) is currently trending on DEXTools as one of the top-trending cryptocurrencies. It has shown notable resilience and commendable market performance over the past three weeks. Despite facing a substantial pullback, PEPE exhibited a steadfast bullish inclination in the long-term price charts.

Other analyses have highlighted compelling reasons supporting PEPE’s potential for an extended rally. However, some on-chain metrics cast doubts on the strength of the bullish trend.

On the one-day price chart, specific price levels were pivotal in PEPE’s recent movements. The $0.00000014 area, marked as a bearish order block from mid-August and highlighted in a cyan box, held significance. Additionally, the $0.00000148 level has maintained its importance since July.

This month, PEPE surged past this resistance zone, primarily fueled by intense buying pressure, evident from the volume bars. Subsequently, the price retraced to retest this region, acting as a support zone. This successful bounce reaffirmed the transformation of the bearish order block into a bullish breaker block at $0.00000148.

The Fibonacci retracement levels (pale yellow) at 50% and 61.8% have been tested and defended thus far. Alongside the bullish breaker block, this scenario indicates a potential for PEPE to continue its upward trajectory.

Examining on-chain metrics, the supply of PEPE on exchanges as a percentage of total volume has decreased since late October. This trend indicates that market participants have been hoarding PEPEs rather than moving them to centralized exchanges for selling purposes.

🐸🎄🎅🏼🎁🐸🎄🎅🏼🎁🐸🎄🎅🏼🎁
𝗜𝗧’𝗦 𝗧𝗛𝗔𝗧 𝗧𝗜𝗠𝗘 𝗢𝗙 𝗧𝗛𝗘 𝗬𝗘𝗔𝗥.

We are excited to spread the holiday spirit with a $PEPE art contest with our friends from the RarePepe artists and collectors community over at @pepe__wtf

500 artists who’s works are chosen will be… pic.twitter.com/f9HlgEi5ig

— Pepe (@pepecoineth) December 13, 2023

Contrarily, the mean coin age has shown a downward trend, suggesting significant movement of PEPE between addresses indicating impending sell pressure.

Despite experiencing sporadic spikes in recent weeks, social volume has not mirrored an upward trend in tandem with the prices. Moreover, the MVRV (Market Value to Realized Value) ratio has been notably positive, hinting that PEPE might be overvalued. This situation could prompt holders to consider liquidating portions of their holdings to capitalize on profits.

These mixed on-chain metrics present a nuanced perspective on PEPE’s market dynamics, indicating a tug-of-war between bullish and bearish sentiments among investors and traders.

2. CRESO (CRE)

The value of Creso (CRE) has also experienced a surge, marking a 4.56% increase in the last 24 hours. It crowns the 1.60% rise over the past seven days. According to DEXTools, its market cap is $39.49 million, and the token is actively traded across decentralized and centralized exchanges. Among these exchanges, Uniswap V2 (Ethereum) stands out as a prominent platform for CRE transactions, with its CRE/WETH trading pair reflecting substantial activity. This impressive activity presents Creso as one of the most trending cryptocurrencies in the market.

Creso, touted as the next-generation smart wallet, introduces an array of pioneering features aimed at simplifying and securing users’ experiences within the Web3 realm, leveraging ERC-4337 technology. Its distinguishing elements encompass hassle-free login via popular social media accounts like Google, Twitter, or Apple, eliminating the need for intricate mnemonic phrases. Moreover, the wallet streamlines transactional gas fees, ensuring a seamless process by managing fees through various tokens or facilitated assistance from an application.

Another standout aspect of Creso is its emphasis on security and recovery. Users can secure their wallets conveniently through familiar logins and add multiple guardians for heightened security, providing options for social backup in case of account loss. Additionally, the wallet incorporates two-factor authentication (2FA), bolstering security measures within the Zonan Wallet.

Praying for all in the crypto space that no-one was affected badly by the @Ledger exploit. If anything, times like these cement the need for change in the web3 security space.
Creso aims to challenge the current failing safeguards with upgraded technology such as social recovery…

— creso (@cresowallet) December 14, 2023

Creso’s innovation focuses on user-centricity, prioritizing accessibility and security within the ever-evolving decentralized ecosystem. By offering user-friendly features and robust security measures, Creso aims to carve a distinct position as a versatile and secure smart wallet solution in the competitive cryptocurrency landscape.

3. Peapods (PEAS)

Peapods, a newly minted cryptocurrency introduced within the Binance network, has debuted on prominent exchanges such as PancakeSwap, ParaSwap, and 1Inch (BSC). Presently, the token is valued at $0.0000000000000000000001070, boasting a market capitalization of $1. This burgeoning market capitalization signifies promising traction within the cryptocurrency domain.

The PEAS token has gained notable traction across Decentralized Exchanges (DEX) and Centralized Exchanges (CEX). Over the past 24 hours, the token has recorded 12 transactions, accumulating a trading volume of $13,080. Meanwhile, the token’s total supply initially stood at an immense figure of 420.69 trillion tokens, with a significant portion burned.

Although this is a newly launched token, it can potentially encounter the beginners’ luck. As most new crypto assets these days have gone ahead to hit the moon, investors should equally look out for PEAS as it makes its way to becoming a top-trending cryptocurrency.

Top Trending Crypto Coins on DEXTools

Amid a flurry of product releases within the gaming-centric memecoin niche, the WSM token has surged by 27% since November 21. Currently valued at $0.02422, this uptick in price is anticipated to continue, propelled by ongoing news regarding buybacks and the project’s resonance within the burgeoning meme coin and gambling sectors.

While recent market surges, like the 2,400% spike of Pepe since its April launch per CoinMarketCap data, have garnered attention, tokens like WSM, rich in utility, present a compelling case. Analysts suggest that WSM can yield substantial returns at its current entry price, possibly reaching ten times its value.

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— Wall Street Memes (@wallstmemes) December 15, 2023

As the anticipated altcoin season commences and the crypto market landscape gradually unfreezes, astute traders and investors are seeking assets that offer tangible business models beyond fleeting viral trends.

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Most Trending Cryptocurrency

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