Why These Altcoins Are Trending Today— December 9

Contrary to the last few weeks, altcoins have been moving sideways over the last few days. As a result, not all altcoins trending have seen their prices increase today, December 9.

This development could be attributed to profit-taking, especially as prices increased exponentially for some time. According to CoinGecko, the top trending altcoins today are Bertram The Pomeranian (BERT), Baby Doge Coin  (BABYDOGE), and Milady Cult Coin (CULT).

Bertram The Pomeranian (BERT)

On several occasions, BERT has appeared on the altcoins trending list due to speculation that the token could be listed on Binance. While the cryptocurrency’s price has increased at different points, the last 24 hours have seen it move sideways while trading at $0.081.

Despite its underwhelming price action, the Solana meme coin remains a token with a lot of market interest. From a technical point of view,  the Moving Average Convergence Divergence (MACD) has dropped to the negative zone.

The decline in the MACD reading indicates bearish momentum around the token. Hence, it is likely for BERT’s price to drop. If this is the case, then BERT is likely to decline to $0.063. However, if buying pressure comes into play, that may not happen, and the token could rise to $0.13.

Baby Doge Coin  (BABYDOGE)

BABYDOGE is one of the few cryptos whose price has increased in the last 24 hours. Within the mentioned period, the price has increased by 40%. It is trending due to the buzzing narrative around Dogecoin (DOGE) and Elon Musk’s continuous mention of the D.O.G.E acronym.

Looking at the daily chart, the Awesome Oscillator (AO) reading has jumped to the positive region. This indicates rising buying pressure and bullish momentum around the altcoin. Should this remain the same, then BABYDOGE’s price could climb above the highest point of the wick at $0.0000000062.

On the other hand, if momentum turns bearish, the trend might reverse. In that case, the token could slide to $0.0000000039.

Milady Cult Coin (CULT)

Last on the list of altcoins trending today is CULT, a meme created by Remilia Corporation, the developers of the Milday Non-Fungible Toke (NFT). CULT is trending because Remilia decided to launch the token today and airdropped some to users of its ecosystem.

According to GeckoTerminal, the altcoin, which launched on Ethereum, has surpassed the $600 million market cap. With a $144.97 million volume, the price trades at $0.0065.

However, some market observers believe that the Milady Cult Coin has launched at a fair price. Hence, it is possible for its value to go higher in the short term since it has a strong community. The coming days will tell whether that will happen or not.