beincrypto.com
Meme coins continue to dominate today’s trending altcoins, highlighting the ongoing meme coin supercycle in the crypto market.
BeInCrypto reports that the surge in interest and price appreciation has fueled their popularity. As of November 19, the top trending altcoins are ai16z (AI16Z), Sui (SUI), and Ponke (PONKE).
ai16z (AI16Z)
AI16Z is one of the trending altcoins because it is a token built on the buzzing AI agent narrative. Over the last seven days, the AI16Z price has increased by 345%. However, it has dropped by 26% within the last 24 hours.
On the 1-hour chart, the Relative Strength Index (RSI) has fallen below the 50.00 neutral line. This indicates bearish momentum around the altcoin. Should this remain the same, then the AI16Z price could drop toward $0.20.
However, if momentum turns bullish, this could change. In that scenario, the altcoin’s price could jump toward $0.60.
Sui (SUI)
SUI is once again on the list of trending altcoins as its volume continues to climb. However, the altcoin’s price has hovered around the same region since yesterday — notably at $3.73.
Despite that, the Moving Average Convergence Divergence (MACD) reading has stayed positive. The MACD is a technical oscillator that measures momentum. When it is positive, momentum is bullish.
On the other hand, a negative reading of the MACD suggests that the reading is bearish. Since it is the former, this indicates that the SUI’s price might continue to climb — this time, above $4. However, if selling pressure rises, this outlook could change, and the altcoin might drop below $3.
Ponke (PONKE)
Last on the list of trending altcoins is PONKE, a Solana-based meme coin. Ponke is trending basically because Bithumb, the South Korean-based crypto exchange, disclosed that it has listed the token.
As a result, PONKE’s price has increased by 11% and 5% away from hitting a new all-time high. On the 4-hour chart, the Bull Bear Power (BBP), which measures the strength of buyers to sellers, indicates that bulls are in control.
Should this remain the same, PONKE could climb above $0.85 from $0.79. However, if bears take control, that might not happen. Instead, the altcoin could decline to $0.69.