Altcoin
GOAT, KLAUS, KOALA AI Lead
Several cryptocurrencies are experiencing a notable level of relief, with some gaining attention by entering the list of altcoins trending today. This surge could be attributed to improved investor sentiment and decreasing selling pressure.
Using data from CoinGecko, BeInCrypto highlights the top trending altcoins, the factors driving their popularity, and what might come next. The top three trending altcoins on October 21 are KOALA AI (KOKO), KLAUS (KLAUS), and Goatseus Maximus (GOAT).
KOALA AI (KOKO)
KOALA AI, a project that combines the humor of meme coins with the power of Artificial Intelligence (AI), tops the list of trending altcoins today. Inspired by the frog-themed meme coin Pepe (PEPE), KOALA AI is gaining traction due to the growing bullish sentiment around the AI + meme coin narrative that has been dominating the market since last week.
As a result, KOKO’s price has surged by 70% in the last 24 hours, currently trading at $0.0000055. According to the daily chart, the Relative Strength Index (RSI) reading has crossed the overbought level, which is usually above 70.00.
It is also the same with the Money Flow Index (MFI), whose reading has surpassed 80.00. While these positions imply massive buying pressure, they also indicate that profit-taking could soon begin.
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If that happens, KOKO’s might lose its place as one of the altcoins trending today. In that case, the price could also decline to $0.0000047. However, if bulls keep up the pressure, the altcoin’s value could rise and break above $0.0000060;
KLAUS (KLAUS)
Next on the list is KLAUS, which is also a cryptocurrency with a meme coin narrative behind it. KLAUS is a trending altcoin today because its price has increased by 565% within the last seven days.
As of this writing, the KLAUS price is $0.040. On the one-hour chart, the altcoin faces notable overhead resistance at $0.045, which is one reason KLAUS’s price might continue to struggle in the short term.
Given the current technical setup, the cryptocurrency’s price is likely to drop to $0.030. But traders interested in this altcoin should watch out. Should KLAUS break through the overhead resistance, this prediction might be invalidated, and the token could climb to $0.056.
Goatseus Maximus (GOAT)
Goatseus Maximus appears to be the frontrunner of the ongoing AI + meme coin narrative in the market. This is because it is one of the altcoins that Truth Terminal, the AI that recently became a millionaire, held to reach that status.
However, GOAT’s price recently dropped by 50%. This happened following reports that the Truth Terminal is operated by humans, contributing to its inclusion in the altcoins trending today.
Despite the initial drop and FUD around it, Lookonchain reported that a whale accumulated another $2 million worth of GOAT. Currently, the same whale holds 21.39 million, which was acquired using $7.14 million.
Read more: 11 Cryptos To Add To Your Portfolio Before Altcoin Season
Following this development, GOAT’s price increased again and currently sits at $0.40. However, if large accumulation continues, the altcoin’s value might rally to $0.58 in the short term.
On the contrary, if crypto whales begin to sell in large numbers like one is doing, this forecast might not come to pass. Instead, GOAT’s price might fall to $0.29.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
The SHIB community is once again surfing optimistic tides within the crypto realm with a staggering 12,000% uptick in the Shiba Inu burn rate and a key Shibarium milestone achieved lately.
On Wednesday, April 2, burn statistics signaled that over 115 million coins were removed from the circulating supply, whereas transactions on the Layer 2 blockchain scaled new heights by topping 1 billion. In response, crypto market participants are now eyeing a highly bullish future for one of the most renowned dog-themed meme tokens amid bolstered market dynamics.
Shiba Inu Burn Rate Soars Over 12,000%, Supply Takes A Blow
Data from the official tracker Shibburn indicated that the SHIB burn rate surged 12,278.89% in the past 24 hours. Per the data, this massive surge rode the back of 115.89 million tokens removed from the supply in just a day.
Notably, the burn mechanism permanently reduces the circulating supply by transferring tokens to a null address. As a response, traders and investors weigh bullishness on the asset’s future prospects by considering the law of supply and demand.
With today’s massive burn saga, the total number of coins killed to date reached 410.72 trillion SHIB. Meanwhile, 584.35 trillion tokens still remain in circulation. Further, it’s worth mentioning that the wallet address “0xc439514852e132c” single-handedly burnt 92.64 million tokens, aiding the surge.
The impact of the constant Shiba Inu burns has kept investors hopeful about a price rally ahead. On the other hand, the coin’s layer 2 blockchain, Shibarium, is making monumental strides.
Shibarium Transaction Volume Hits 1B
SHIB’s marketing lead Lucie further revealed on X that the transaction volume on the Layer 2 blockchain has crossed the 1 billion mark. This chronicle has added to the optimistic buzz orbiting the crypto as it underscores its network’s rising popularity.
Soon after its launch in August 2023, the L2 network gained significant traction with its vast offerings. Ranging from seamless transactions and gaming opportunities to utilities with tokens such as TREAT, LEASH, and BONE, the L2 network offers users top-notch services in the Web3 space. The rising transactions add to bullish market sentiments, accompanying the Shiba Inu burn rate upswing.
Is SHIB Price Gearing Up For A Rally?
Despite the bullish advancements, SHIB price traded down nearly 4% today, resting at $0.00001224. The meme coin hit a low and a peak of $0.00001214 and $0.00001312 in the past 24 hours. Besides, the weekly chart also indicated a 20% crash in value. This bearish action has kept investors cautious over future aspects despite the Shiba Inu burn surge and Shibarium advancement.
Simultaneously, a renowned crypto market trader going by the name Nebraskangooner revealed that SHIB continues to reject resistance just like other altcoins. Crypto market participants continue to thoroughly monitor the token, given that some market stats indicate a bullish stance whilst the price wanes.
Also, CoinGape reported that the coin’s lead developer, Shytoshi Kusama, shared a cryptic location update recently. The abovementioned chronicles are some of the most buzz-worthy Shiba Inu news lately.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Pi Network seems to be losing ground as Pi Coin price continues to face strong selling pressure, dropping another 4% and slipping under $0.70. Furthermore, the PI trading activity in the ecosystem is also dropping, showing that the investors’ euphoria is fading away quickly. Also, the PI token unlocks happening over the past week and so have led to a negative sentiment.
Pi Network Faces Backlash Despite PiFest Announcement
Earlier today, the Pi Core team announced that the inaugural PiFest on the Open Network saw record participation, with over 125,000 registered sellers—including more than 58,000 active sellers—and 1.8 million Pioneers utilizing Map of Pi, while highlighting Pi’s real-world utility worldwide.
However, the community doesn’t seem to be pleased by this. Commenting on the reality of the PiFest, Dr. Altcoin noted: “Since the PiFest started, Pi trading activity in the Eco-system has been at its lowest. The only trade was selling Pi for Cash”. While slamming the core team further, Dr. Altcoin stated that the Pi co-founders “seem out of touch with the realities of the everyday Pi Community”.
Other community members have slammed Pi Core Team’s communication approach, stating that it has remained unchanged since the enclosed mainnet phase. Critics like Dao world argue that the monthly updates are too predictable and insufficient for sustaining a large and engaged community.
Community members are now advocating for a more transparent communication strategy, with calls for a new leadership figure who has a deep understanding of cryptocurrency.
Pi Network Reduces Base Mining Rate by 1.18% This Month
The Pi Network’s base mining rate has dropped by 1.18% this month, now standing at 0.0029030 π per hour. This adjustment continues the network’s trend of gradual mining rate reductions. Some community members speculate that the declining interest in mining may be linked to Pi’s current low trading value on exchanges.
Despite talks of the Pi Network listing on top crypto exchanges like Binance and Coinbase, it hasn’t fructified so far. However, the BTCC exchange stated that it has added the cryptocurrency for spot trading, but it failed to add any upward momentum to the Pi coin price.
Where’s Pi Coin Price Heading Next?
Over the past seven days, the Pi coin price has tanked by 20%, with the next crucial support levels at $0.60. Furthermore, the correction under $0.70 comes with heavy selling pressure as daily trading volumes tanked 52% to $148 million.
Pi Network is currently forming a classic falling wedge pattern, testing the lower boundary near $0.687. A confirmed breakout with volume above the $0.71–$0.72 range could signal a bullish move, potentially pushing the price toward $0.75–$0.78, where key resistance levels lie.
Some market analysts still have the hope that PI cryptocurrency could reverse the trajectory to hitting highs of $3 and above.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
PENDLE price has led the broader market gains this Wednesday, pumping nearly 8% amid bullish developments. Recent whale metrics indicated that large-scale investors bought roughly $8 million of the token, whereas a crypto exchange behemoth also listed it previously. In an upshot, traders and investors are eyeing more gains in the asset’s price due to recent advancements that underscore rising demand for the crypto.
PENDLE Price Jumps 8% Amid Bullish Whale Transactions
As of press time, PENDLE price witnessed an 8% uptick in value and exchanged hands at $3.05. The crypto’s 24-hour low and high were registered as $2.84 and $3.07, respectively.
On a keynote, the rising price action aligns with the heightened buying pressure bought by whales in recent days. The latest data from tracker Lookonchain showed that whales bought roughly $8 million worth of coins in the past 5 days. Per the data, five newly created wallets collectively accumulated the aforementioned amount.
Here Are The PENDLE Whale Addresses Captured:
-0x21fBA58b20f62397c015b1f5a15f742ad430dFA
-0x2EB48c60F4ea75fa0a0Ff5BB017EBD9f5981b8F5
-0x11DFEDf01B3FA824BbCB138159B2e6AFE43692a3
-0x981D8856f572Fb076626265114EAD67697dA5501
-0x6478C8681ADC3E7a0C17Aa1E1F0Ff16d1A61a8f6
Why Are Whales Accumulating?
Meanwhile, the rising whale accumulations and PENDLE price upswing fall in line with another bullish development. Crypto exchange behemoth Coinbase unveiled a listing for the token at the end of March last month.
As a result, large-scale investors are hoarding massive amounts of the token, aiming to capitalize on emerging market opportunities.
Historically, listings on top crypto exchanges usually usher a bullish price action as they substantially increase an asset’s market exposure, thereby welcoming more funds from investors. CoinGape previously reported another similar chronicle, wherein cryptos BROCCOLI and TUT price rallied with their listings on Binance. Similarly, the Coinbase listing appears to be a vital catalyst for driving the whale frenzy and recent price upswing.
Can Bullish Developments Fuel Bull Run Ahead?
Usual market sentiments continue to tilt in favor of bulls, given the Coinbase listing and rising whale accumulations. Further, a renowned crypto market trader has poured additional optimism surrounding the coin’s future price action with his bullish prediction.
Analyst AMCrypto recently took to X, revealing that PENDLE price is forming an “inverse head and shoulder pattern.” This pattern formation suggests that a potential trend reversal from bearish to bullish is brewing amid bullish advancements.
In light of this dynamic, the analyst predicts that a break above $3 paves the way for a massive rally ahead. As mentioned above, the coin is currently trading above this price level. As a result, market watchers continue to weigh further bullishness on the asset’s long-term price prospects.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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