Why These Altcoins Are Trending Today — May 21

The crypto market has extended its bullish momentum with total market capitalization climbing by $10 billion in the past 24 hours. This upward momentum reflects growing investor confidence, as Bitcoin edges closer to a potential new all-time high.

Amid this market-wide rebound, some altcoins have attracted significant attention. Notably, Cookie DAO (COOKIE), MANTRA (OM), and KAITO (KAITO) are among the top trending assets as of May 21.

Cookie DAO (COOKIE)

COOKIE is one of today’s trending altcoins. It trades at $0.195, noting a 23% price increase over the past day. 

During that period, its daily trading volume is up 344%, totaling $57 million. When an asset’s price and trading volume soar simultaneously, it signals strong market interest and confirms the strength of the price move. 

This combination suggests increased buying momentum in the COOKIE market and hints at the potential continuation of the current rally.

In this scenario, the token’s price could reach $0.198.

COOKIE Price Analysis. Source: TradingView

On the other hand, if sellofs begin, its price could fall to $0.186. 

MANTRA (OM)

Mantra’s OM is another altcoin trending today. The token currently trades at $0.42 and has experienced a 12% rally over the past 24 hours. 

On the daily chart, OM’s positive Balance of Power (BoP) confirms the buying pressure. At press time, this stands at 0.32.

The BOP indicator measures the strength of buyers against sellers by comparing the price movement within a trading period. When the BOP is positive, buyers are in control, suggesting upward pressure on the asset’s price.

If this trend continues, OM’s price rally could extend to $0.46.

OM Price Analysis. Source: TradingView

However, if a decline occurs, the token’s price could dip to $0.37. 

KAITO (KAITO)

KAITO is another altcoin that has attracted attention today. It exchanges hands at $2.15, climbing 15% over the past day.

At press time, its Chaikin Money Flow (CMF) rests above the zero line, reflecting the growing buying pressure. It currently stands at 0.16.

The CMF indicator measures the flow of money into and out of an asset. A CMF value above zero indicates that the asset is experiencing more buying pressure than selling. 

This positive reading implies that KAITO investors are accumulating the asset and that its price may continue to rise if the trend persists.

In this case, the token could rally to $2.26.

KAITO Price Analysis. Source: TradingView

Conversely, KAITO’s value could slip to $2.0 if selling commences.