CandleFocus

Why These Altcoins Are Trending Today — November 28

Author: Content Editor
In November, several altcoins have emerged as contenders to challenge Bitcoin's dominance. BeInCrypto analyzes the reasons behind the trending status of the top three altcoins: Thena (THE), Sui (SUI), and Just a Chill Guy (CHILLGUY).

The native token of the decentralized exchange built on the BNB Chain, THENA, has seen a significant price increase of 130% in the last 24 hours, reaching $3.88. This surge in price is attributed to Binance listing THE and generating more attention for the altcoin. If the volume and price continue to rise, THE could reach $5, but profit-taking may cause a decline below $2.

SUI has also experienced a price increase, albeit more modestly at 5% in the last 24 hours. However, the Money Flow Index (MFI) indicates selling pressure as it dropped below the neutral line. If the trend continues, SUI's value could drop to $2.38, but if buying pressure returns, the price may rally above $3.95.

CHILLGUY initially saw a spike in value after being listed by Binance, but in the last 24 hours, the price has decreased by 16.40%. The decrease in volume suggests that the listing may have been a "buy the rumor, sell the news" event. Consequently, the price is expected to continue dropping towards $0.45, unless interest in CHILLGUY increases and drives the price up to $0.70.

Related News