Why These Altcoins Are Trending Today — June 11

8d ago•

bullish:

bearish:

Trading activity has steadied across the cryptocurrency market today, with the global crypto market capitalization recording a modest 1% gain over the past 24 hours.

While major assets remain relatively stable, some altcoins are drawing increased attention. Among them are AURA, ETN, and SYRUP.

aura (AURA)

AURA, a culture token built on the Solana blockchain, is one of today’s trending coins. At press time, the token trades at $0.50, up over 5,000% in the past 24 hours.

The explosive rally follows a significant spike in trading activity by a large holder. In a June 11 post on X, on-chain sleuth Lookonchain noted that five months ago, the trader, identified by wallet address FvaBFc, spent $24,000 to acquire 2.87 million AURA tokens, only to watch their value crash by more than 90%.

But in a remarkable twist, AURA surged by 35x today, allowing the trader to sell their entire position for $128,000, fully recouping prior losses and locking in a $104,000 profit.

This wallet activity has drawn attention to AURA’s staggering price performance, fueling speculation and buzz around the token’s next moves.

If demand persists, the altcoin could maintain its gain and climb toward $0.59.

AURA Price Analysis. Source: TradingView

However, if selloffs resume, the token’s value could dip to $0.46.

Electroneum (ETN)

ETN is another altcoin trending today, currently trading at $0.0018. The token has recorded a 4% gain over the past 24 hours, extending its nine-day rally and adding further momentum to its ongoing uptrend.

Readings from the ETN one-day chart reveal that the token has traded above an ascending trend line since June 4, reflecting the market’s sustained buying momentum.

An ascending trend line emerges when an asset’s price consistently posts higher lows over time. This pattern signals bullish sentiment, suggesting that ETN buyers continue to step in at increasingly higher levels.

If buying pressure grows, ETN could rally to $0.00020.

ETN Price Analysis. Source: TradingView

Conversely, if profit-taking begins, it could fall to $0.0015.

Maple Finance (SYRUP)

SYRUP is up 14% over the past day and exchanges hands at $0.48 at press time. The altcoin briefly traded at an all-time high of $0.50 during Wednesday’s early Asian session.

In the past 24 hours, its trading volume has surged by 65%, reaching $133 million. This indicates that sufficient demand backs SYRUP’s price rally.

This trend suggests that actual market participation, not speculative trading activity, is behind the SYRUP price rally. If this trend continues, the token’s price could revisit its all-time high of $0.50.