The general crypto market has dipped again in the last 24 hours. However, as the market retraced, traders kept the trading volume at over $66 billion. The effect can be seen in the prevalent activities on DEXTools. The chart’s rapid movement of crypto assets indicates how fast various cryptocurrencies gain. The improved risk appetite among traders and investors owns their move to become top trending coins.
On Wednesday, the UK’s primary stock benchmarks surged, set for a three-day uptrend as cooler-than-anticipated October inflation figures bolstered investor confidence. Concurrently, a general increase in commodity prices contributed to the upward trajectory, particularly boosting mining and energy stocks.
The FTSE 100 index (.FTSE), tilted towards commodities, soared by 1.2% at 0838 GMT, marking its highest level in almost a month. Meanwhile, the mid-cap FTSE 250 (.FTMC) also surged by 1.1%, reaching a two-month peak.
In October, British inflation exhibited a more subdued increase than anticipated. This decline was attributed to the drop in household energy prices compared to the previous year, alongside a slight moderation in persistent price growth within the services sector. This unexpected dip relieved the Bank of England (BoE).
Top Trending Crypto Coins on DEXTools
The favorable inflation report reinforced prevailing expectations that the BoE might consider interest rate cuts by the middle of the coming year.
Companies involved in precious metal mining (.FTNMX551030) saw a notable 2.6% rise, while industrial metal miners (.FTNMX551020) experienced an increase of 1.8%. This uptick was propelled by the climb in most metal prices, driven by a softer dollar and declining bond yields.
1. HarryPotterObamaSonic10Inu (BITCOIN)
The first trending cryptocurrency to consider today is HarryPotterObamaSonic10Inu (BITCOIN). Its valuation is currently $0.000000003008, with no trading activity reported within the last 24 hours. The circulating supply data for BITCOIN tokens must be made available, leading to an unknown market capitalization.
This token reached an all-time high price of $0.000000016070 on Dec 12, 2021, nearly two years ago, indicating a significant decline of 84.79% from the current price. Conversely, the all-time low price was registered at $0.000000000603853 on Jul 10, 2023, approximately four months ago, showing a surge of 304.81% from the present value.
Considering a hypothetical scenario with the maximum circulating supply of 1 Quadrillion BITCOIN tokens today, the fully diluted valuation is $3 million. However, the actual realization of FDV could span multiple years, contingent upon the token emission schedule.
— HPOS10I ETH (@RealHPOS10I) November 15, 2023
HarryPotterObamaSonic10Inu (BITCOIN) remained stagnant in the last seven days, showing no price change. This performance suggests underperformance compared to the global cryptocurrency market, which rose by 2.00%. Compared with analogous BNB Chain Ecosystem cryptocurrencies displaying no change, HarryPotterObamaSonic10Inu performed similarly.
Despite the absence of recent trading volume, the community sentiment remains overwhelmingly bullish based on its records. HarryPotterObamaSonic10Inu (BITCOIN) is a top-trending cryptocurrency in every sense of the word.
2. Joe (JOE)
JOE (JOE) is performing on a different level from HarryPotterObamaSonic10Inu today as it is experiencing a notable surge in trading activity. It is priced at $0.382360 with a 24-hour volume of $18.22 million. Over the last day, it has seen an 11.36% price upswing and a 29.03% increase in the past week. With a circulating supply of 340 million JOE, the token’s valuation places its market capitalization at $130.91 million.
The highest price ever recorded for JOE (JOE) was $5.09 on Nov 21, 2021, approximately two years ago, signifying a considerable drop of 92.44% from the current price. On the other hand, the all-time low occurred at $0.02658814 on Aug 11, 2021, over two years ago, showing a remarkable surge of 1,346.98% compared to the current value.
Assuming the circulation of a maximum of 500 million JOE tokens, the fully diluted valuation stands at $191.58 million. Like others, the actual realization of FDV might take several years, contingent upon the emission schedule of JOE tokens.
In the past seven days, JOE (JOE) demonstrated a robust performance, surging by 29.00%, surpassing the global cryptocurrency market, which observed a 2.00% increase. Moreover, JOE showed superior performance when juxtaposed with analogous Avalanche Ecosystem cryptocurrencies that rose by 5.80%.
The prevailing market sentiment toward JOE (JOE) remains bullish. It has also consistently been a top-trending cryptocurrency.
3. Snowball (SNOB)
Snowball (SNOB) is currently valued at $0.0230, experiencing a striking surge in the last 24 hours with a trading volume of $10,859. Over this period, it has observed a remarkable 73.95% price increase, and in the past week, the surge has been an impressive 112.43%. The token’s market cap is $125,506, based on a circulating supply of 5.5 million SNOB.
The all-time high for Snowball (SNOB) occurred at $3.93 on Aug 25, 2021, around two years ago, marking a substantial decrease of 99.42% compared to the current price. Conversely, the all-time low price, recorded at $0.00371160 on Aug 19, 2023, approximately three months ago, indicates a remarkable surge of 509.84% from the current value.
Considering the maximum number of 18 million SNOB tokens in circulation today, the fully diluted valuation is $406,880. However, the realization of FDV might span several years, contingent upon the emission schedule of SNOB tokens.
So proud of the continued work @Hatchyverse
— Snowball (❄️,🔺) (@snowballdefi) November 14, 2023
Snowball (SNOB) showcased a staggering price surge of 112.40% in the last seven days, surpassing the global cryptocurrency market’s 2.30% rise. Additionally, compared to similar Avalanche Ecosystem cryptocurrencies that recorded a 5.80% increase, Snowball exhibited notably superior performance in the same timeframe.
What Might Be The Next Top Trending Crypto?
The SpongeBob (SPONGE) token has taken the meme coin market by storm, skyrocketing over 340% in the past week, riding the increased capital inflows. This ERC-20 token cleverly pays homage to the iconic SpongeBob SquarePants character, perfectly aligning with the ongoing trend of meme-inspired tokens.
At its current trading level of around $0.00051, SPONGE has surged almost 400% in the last 30 days, coinciding with a robust market cap of $10.9 million and an impressive 24-hour trading volume of $1.5 million.
Etherscan.io data reveals a remarkable spike in the number of unique wallet addresses holding SPONGE, soaring to 11,900, underlining the growing interest and engagement in the token.
Social media, particularly Twitter, is buzzing with discussions regarding SPONGE’s potential, with some enthusiasts even drawing comparisons to the acclaimed “new PEPE.” Yet, as history often shows, such rapid ascents seldom maintain their trajectory, raising uncertainties about SPONGE’s ability to uphold its gains.
Nevertheless, the recent surge emphasizes sustained interest in SPONGE, hinting at potential developments in the token’s lifecycle. Amidst the aftermath of its impressive rally, speculation runs wild regarding SPONGE’s next direction. Many optimistically forecast further short-term gains should the current fervor persist.
— $SPONGE (@spongeoneth) November 13, 2023
Enthusiastic traders anticipate SPONGE riding its current momentum, aiming for the crucial $0.0010 threshold. Only reached on May 9, this level carries significant psychological weight among token holders.
A successful breach of this level might propel SPONGE into consideration for listing on Tier-1 centralized exchanges (CEXs) such as Binance or Coinbase, broadening its exposure and market reach. It will further consolidate the token as the most trending cryptocurrency.
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