Dogecoin (DOGE), Arbitrum (ARB), and TABOO TOKEN (TABOO) have been the trending digital currencies in the previous 24 hours.
Dogecoin (DOGE) has topped the Coinmarketcap trending list due to social media chatter about its logo replacing the Twitter bluebird emblem. Over the past 24 hours, bulls and bears have been battling for market control, sending prices soaring as high as $0.09895 and plunging as low as $0.09243.
However, as of this writing, the bears had prevailed, causing the DOGE price to fall by 3.83% to $0.09198. If the bearish sensation prevails and the support zone at $0.09243 is breached, the DOGE price may fall lower to the next support level at $0.09000. However, if the bulls recover control and push the price above the resistance level at $0.09895, it might herald a positive trend and lead to another rise towards $0.10000.
The market capitalization and 24-hour trading volume fell by 3.94% and 63.75%, respectively, to $12,839,780,196 and $1,687,644,228, indicating the present adverse attitude in the DOGE market. It remains to be seen if the market will rebound in the medium term or continue to fall.
Arbitrum (ARB) is ranked second among the top trending digital currencies, despite its current price of $1.22, a 1.46% loss as of press time. The bullish power felt during the day was foiled when bulls failed to break through the resistance at the 24-hour high of $1.28.
If the bearish trend in the ARB market continues and the support level at $1.21 is surpassed, investors may panic and dump their holdings, causing the price to fall even more. However, if the bulls can break over the resistance level and maintain their momentum, ARB could see a substantial price increase in the near future.
During the downturn, the market capitalization and 24-hour trading volume fell by 1.15% and 23.58%, respectively, to $1,560,473,656 and $664,984,876. This drop implies that investors are cautious and await more precise signals before making significant moves in the ARB market.
Despite plunging to a 24-hour low of $0.00205, the TABOO TOKEN (TABOO) bulls overcame the bears and drove the price up to a new 90-day high of $0.002605 before hitting resistance. Due to the bulls’ vigor, the TABOO price was still positive at press time, representing an 11.54% advance to $0.002608.
If the bullish power grows, the TABOO token may break through the resistance level and continue to soar higher. However, if the bears regain control, the price may decrease to the $0.00205 support level. Beyond the current barrier level, the next resistance level may be at $0.0035, which may be a significant milestone for the TABOO token and bring more investors to the market.
During this bullish reversal, the market capitalization and 24-hour trading volume increased by 11,18% and 7.45%, respectively, to $25,448,348 and $1,346,342. This spike is due to the TABOO token reaching a 90-day high, which has sparked additional interest in the market and may lead to more price increases.
In conclusion, the trending digital currencies DOGE, ARB, and TABOO show varying levels of bullish and bearish sentiment, leaving investors to watch market movements and seize opportunities carefully.