Why These Altcoins Are Trending Today — October 23

Today’s trending altcoins feature two meme coins connected to Artificial Intelligence (AI) and a recently launched cryptocurrency that’s gaining significant market attention. 

However, only one of these three has experienced a notable price increase, while the others have seen their values decline in the last 24 hours. Based on CoinGecko data, the top three trending altcoins are Goatseus Maximus (GOAT), Scroll (SCR), and KOALA AI (KOKO).

Goatseus Maximus (GOAT)

GOAT leads today’s trending altcoins thanks to a significant price surge. In the past 24 hours, GOAT’s price has soared by 55%, recovering losses incurred just days ago. This surge has propelled the cryptocurrency, which benefits from the popular AI and meme coin narrative to a new all-time high of $0.68.

Further, BeInCrypto’s analysis reveals that this impressive gain is linked to a surge in whale purchases. Earlier today, Lookonchain reported that a wallet acquired $3.39 million worth of GOAT, likely exerting upward pressure on the price

From a technical perspective, the Accumulation/Distribution (A/D) line shows that the market has continued to buy more of the GOAT. If this continues, the altcoin’s value might rise above $0.70 and move closer to the $1 mark.

Goatseus Maximus 4-Hour Price Analysis. Source: TradingView

However, that will only be the case if the Bulls continue to receive $0.42 support. On the other hand, the price might sink to $0.26 if holders of the token book profit in large volumes.

Scroll (SCR)

On Tuesday, October 22, Scroll emerged as one of the top trending altcoins, and it remains in that group today for similar reasons. According to CoinGecko, SCR’s price has dipped by 16% in the last 24 hours, indicating that recipients of the project’s airdrop may be selling off their allocations.

Currently, Scroll’s price is $1.02 on the one-hour chart. However, the trend suggests a potential decline, with the possibility of falling below $1. If the downward momentum continues, a move to $0.85 could be on the horizon.

Scroll 1-Hour Price Chart. Source: TradingView

However, if market participants decide to buy the dip, things might change for SCR. If that happens, the price could bounce to $1.30.

KOALA AI (KOKO)

KOALA AI’s inclusion in the trending altcoins list is the third consecutive time. This is basically because of the same reason GOAT is also on the list. But unlike Goatseus Maximus, KOKO’s price is down 4.70% in the last 24 hours.

However, the Awesome Oscillator (AO), which measures momentum, has become positive. This positive reading suggests that market participants are starting to buy the KOKO dip. Should this continue, the altcoin’s price might climb to $0.0000086.

KOALA AI Daily Price Analysis. Source: TradingView

On the flip side, if the momentum turns bearish, then the prediction might be invalidated. Should that be the case, KOALA AI’s price might drop to $0.0000035.