{"id":466027,"date":"2023-12-16T11:14:14","date_gmt":"2023-12-16T11:14:14","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=466027"},"modified":"2023-12-16T11:14:14","modified_gmt":"2023-12-16T11:14:14","slug":"top-trending-crypto-coins-on-dextools-pepe-peapods-creso","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/top-trending-crypto-coins-on-dextools-pepe-peapods-creso","title":{"rendered":"Top Trending Crypto Coins on DEXTools – Pepe, Peapods, CRESO"},"content":{"rendered":"

This week, a shift in investor sentiment<\/a> 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.<\/p>\n

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.<\/p>\n

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

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.<\/p>\n

Top Trending Crypto Coins on DEXTools<\/b><\/h2>\n

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<\/a> in Bitcoin’s influence compared to the surging interest in alternative cryptocurrencies amid the ongoing capital rotation.<\/p>\n

1. Pepe (PEPE)<\/b><\/h3>\n

Pepe (PEPE)<\/a> 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.<\/p>\n

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.<\/p>\n

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.<\/p>\n

\"PEPE<\/p>\n

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.<\/p>\n

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.<\/p>\n

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.<\/p>\n

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🐸🎄🎅🏼🎁🐸🎄🎅🏼🎁🐸🎄🎅🏼🎁
𝗜𝗧’𝗦 𝗧𝗛𝗔𝗧 𝗧𝗜𝗠𝗘 𝗢𝗙 𝗧𝗛𝗘 𝗬𝗘𝗔𝗥.<\/p>\n

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

500 artists who’s works are chosen will be… pic.twitter.com\/f9HlgEi5ig<\/a><\/p>\n

— Pepe (@pepecoineth) December 13, 2023<\/a><\/p><\/blockquote>\n