Why These Altcoins Are Trending Today — March 17

The crypto market has resumed its downtrend, with total market capitalization declining by $23 billion over the past 24 hours. 

Despite the broader downturn, a few altcoins have attracted investor interest due to notable price movements. 

PancakeSwap (CAKE)

CAKE powers PancakeSwap, the largest decentralized exchange (DEX) on the BNB Chain. It is one of today’s trending altcoins because it has bucked the broader market decline to record gains. Currently trading at $2.21, the token is up 17% over the past day. 

The growing on-chain activity on PancakeSwap over the past 24 hours largely drives the double-digit gain. During this period, PancakeSwap has led all decentralized exchanges with a trading volume of approximately $1.63 billion.

In comparison, Ethereum’s Uniswap has recorded around $1.02 billion in 24-hour volume, while Solana’s Raydium (UNI) has seen a net daily volume of roughly $334 million.

DEX Volumes. Source: DefiLlama

If demand for CAKE continues to grow, its price could breach the resistance at $2.41 and rally toward $2.90.

CAKE Price Analysis. Source: TradingView

On the other hand, a decline in buying pressure would invalidate this bullish projection. In this case, CAKE’s price could drop to $2.01.

Bubblemaps (BMT)

Bubblemaps’ BMT is another altcoin that investors are paying attention to today. It currently trades at $0.139, rising 40% in the past 24 hours. 

On the four-hour chart, the golden cross observed by its Moving Average Convergence Divergence (MACD) confirms the bullish bias toward the altcoin. 

This trend occurs when the MACD line (blue) crosses above the signal line (orange), signaling a bullish trend reversal. It indicates increasing upward momentum, suggesting that the BMT buying pressure is strengthening. 

If BMT buyers consolidate their market control, they could drive the token’s price toward $0.18.

BMT Price Analysis. Source: Gecko Terminal

Conversely, if BMT holders begin distributing their tokens for profit, the token could shed its recent gains and fall to $0.071.

Heroes of Mavia (MAVIA)

MAVIA is the native token of the Web3 game House of Mavia. Today, it is a trending asset because its price is up 395% over the past 24 hours. The price rally is driven by excitement over new features set to be introduced to the game.

MAVIA’s price jump has been accompanied by a 5440% rise in trading volume in the past day. This is a bullish sign as it indicates that the rally is backed by demand for the token and not fueled by speculative trades.  

MAVIA could extend its gains and climb to $0.95 if demand rockets further.

MAVIA Price Analysis. Source: TradingView

However, if the bears regain dominance and buying pressure falls, the token‘s value could drop to $0.34