- COOKIE crypto has formed a higher high swing on the daily chart of the crypto.
- CGPT crypto has witnessed strong profit booking but might rebound.
- MNTC crypto price has reached a crucial level which might react in future.
The entire crypto landscape is showing a negative price structure, with the top 100 cryptocurrencies experiencing an intraday decline. The global crypto market cap has decreased by 3.47% since yesterday, standing at $2.27 Trillion at press time.
Market leaders Bitcoin and Ethereum, which hold dominance of 54.2% and 18.2% respectively, also saw intraday declines. This suggests a bearish outlook for these major tokens in the coming sessions.
In this challenging market environment, we will examine three top cryptocurrencies to watch this week that have garnered attention on CoinMarketCap.
Let’s explore why these assets are the most visited and analyze their potential trajectories from their current prices.
1. COOKIE
Despite the overall bearish market, COOKIE crypto has seen a significant rise, up 41.14% since last week and 1.21% intraday.
COOKIE, the governance and utility token of the Cookie Ecosystem, was launched on June 13th, 2024. Despite a large total supply of 1 billion tokens, optimistic investors have driven its price higher since its debut.
According to its tokenomics, only 5.94% of the total supply is currently in circulation. This limited supply, combined with a high volume-to-market cap ratio of 54.84%, has fueled its recent price increase. COOKIE has a market cap of $7.54 Million, ranking it 2612th on CoinMarketCap, with a trading volume of $4.11 Million.
At press time, COOKIE was trading at $0.12677, with an intraday rise of 0.48%, according to CoinMarketCap. The price structure on MEXC shows COOKIE forming higher peaks, indicating a positive trend.
COOKIE/USDT Chart by TradingView
After climbing from $0.07800 to $0.14400, COOKIE faced bearish pressure as sellers attempted to take control. Despite this, COOKIE remains bullish, trading above its initial peak of $0.11926.
2. CGPT Declines Below Crucial Levels
The Chain GPT (CGPT) token, symbolized as CGPT, leverages AI and big data technologies. Released in 2023, it currently holds the 416th rank on CoinMarketCap. With a total market capitalization of $79.955 million, 49.90% of CGPT tokens are in circulation out of a total supply of 998.267 million, with a maximum supply of 1 billion.
CGPT reached its all-time high on March 12, 2024, when the price peaked at $0.556. Since then, the price has declined by more than 70%, falling below both the 50-day and 200-day EMAs.
CGPT/USD Chart by TradingView
At the time of writing, CGPT is trading at a crucial support level of $0.1550, the same level where its last significant rally began. If historical patterns hold true, CGPT could experience a significant price increase from this support level.
3. Strong Profit Booking in MNTC Crypto
Minati Coin (MNTC) has seen a notable rise, currently ranked 902 on CoinMarketCap by market capitalization. The coin has surged 12.75% in market cap and 7.02% in 24-hour trading volume. Its market capitalization stands at $14.633 million, with a trading volume of $2.972 Million.
Despite experiencing pump-and-dump activity, MNTC has reached a crucial level of $1.37 on the daily chart, the point where the last rally began. The coin’s liquidity is moderate at 20.32%, indicating that buying and selling are occurring with minimal delay.
MNTC/USD Chart by TradingView
As of now, MNTC is trading below both the 50-day and 200-day EMAs. It is also ranked third in the most visited section of CoinMarketCap. Given its position at this critical level, another rally could be on the horizon.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
