After a few days of broad decline, the crypto market is showing signs of recovery, with the total market cap rising by $58 billion in the past 24 hours.
Amid this rebound, a number of altcoins are drawing significant attention due to ecosystem updates and notable price movements. Here is a closer look at today’s trending tokens.
MANTRA (OM)
OM, the native coin of the real-world asset (RWA) Layer-1 (L1) blockchain Mantra, is one of the trending altcoins today. It has grabbed investors’ attention because of Mantra’s newly launched RWAccelerator, a startup accelerator program backed by Google Cloud that drives the tokenization of real-world assets (RWAs).
The program, announced at Consensus Hong Kong, will provide funding, mentorship, AI-driven resources, and technical support for real estate and finance startups.
However, its price performance has remained muted to this development. The coin trades at $7.37 at press time, noting a 3.2% decline over the past day. During that period, its trading volume totaled $219 million, falling 43%.
A decline in an asset’s price and trading volume signals weakening market interest and reduced liquidity. Therefore, OM risks plummeting to $5.41 if this trend persists.
On the other hand, a surge in the demand for the altcoin could trigger a rally toward its all-time high of $8.12.
PAIN (PAIN)
The newly launched Solana-meme coin PAIN is another trending altcoin today. PAIN has made a strong debut, reaching a market capitalization of $168 million within 17 hours of its launch, with a trading volume of $93 million.
As of this writing, the meme coin trades at $16.99, having declined 10% in price in the past 24 hours. Its falling Relative Strength Index (RSI) on the hourly chart confirms the dropping demand for PAIN. It is in a downward trend at 56.87
An RSI reading of 56 indicates moderate bullish momentum, but its decline suggests weakening buying pressure. If the downtrend continues, it could signal a shift toward neutral or bearish territory.
If this decline continues, PAIN’s price could drop to $5.74.
On the other hand, if demand climbs, its price could touch $57.13
Shadow (SHADOW)
SHADOW is another trending altcoin today because its value has rocketed over 50% in the past 24 hours. It currently trades at $168.27, with sustained demand among market participants.
This is reflected by its positive Balance of Power (BoP), which is at 0.77 at press time. The indicator measures the strength of buyers versus sellers in a market. A positive BoP indicates buyers have greater control, signaling bullish momentum.
If buying pressure remains strong, SHADOW could reclaim its all-time high of $199.68.
Conversely, a spike in selloffs could cause a price decline to $154.13.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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Abiodun Oladokun
https://beincrypto.com/trending-altcoins-february-20/
2025-02-20 19:00:00
