Top Trending Cryptocurrencies on Polygon – Fuse Token, Mask Network, Elk

Bitcoin price and demand are gaining momentum, mirroring trends seen during the 2016 US presidential election. For the upcoming 2024 elections, betting markets are currently estimating former President Donald’s re-election chances Trump at 66.5%. This has sparked optimism among investors, with expectations of regulatory changes that could be favorable to Bitcoin fueling bullish market sentiment.

As interest in Bitcoin increases, recent investments in Bitcoin exchange-traded funds (ETFs) add to the cryptocurrency’s upward trend. Additionally, tokens on several blockchains have seen rallies. This article organizes the trending cryptocurrencies on Polygon.

Top Trending Cryptocurrencies on Polygon

Fuse Token (FUSE) is valued at $0.033 and has an estimated market cap of $67.31k. Mask Network (PoS) is priced at $3.168, with a market cap of approximately $316.98 million. Currently, Elk (ELK) is priced at $0.107, has a market cap of $1.73 million, and has a 24-hour trading volume of $7.38k.

Meanwhile, meme coin Flockerz ($FLOCK) quickly gained attention, raising $1.15 million in its initial coin offering (ICO). In other news, crypto company Consensys announced a 20% reduction in its workforce, citing concerns about regulatory uncertainty.

1. Fuse token (FUSE)

Fuse Token (FUSE) is currently priced at $0.033, with a market cap of around $67.31K. Its 24-hour trading volume stands at $3.27K, reflecting an increase of 112.86% over the past day. FUSE has a circulating supply of 2.03 million, which has reached its maximum limit.

On a 15-minute time frame on DEXTools.io, the FUSE/USD chart recently showed a strong breakout after a long period of low activity and stable prices. The price rose from around $0.014 to $0.033 in a series of large green candles. The most recent period shows a slight gain of 0.77%. This sharp price rise reflects renewed interest, and it is now followed by a brief phase of consolidation around the $0.033 mark.

The FUSE/USD pair saw a significant rally with a rapid upward move, suggesting renewed buying interest. This move began just after 11:00 a.m. and is evident in a sequence of green candles. The price is now consolidating around the $0.033 level, hinting at potential stabilization. As a result, trading volume spiked, indicating that large buy orders entered the market. Increasing volume aligns with price movement, supporting breakout strength as higher trading activity typically supports a new price trend.

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After the rally, the price entered a period of consolidation marked by smaller candles and reduced volume. This phase suggests a balance between buyers and sellers, with some likely taking profits. A single red candle portends a slight pullback, but does not yet suggest a complete reversal.

2. Mask Network (PoS) (MASK)

Mask Network (PoS) is currently priced at $3.168 and has a market cap of $316.98 million. Over the past 24 hours, the token’s trading volume reached $17.9K, with a price increase of 35.32%. The maximum circulating supply is 100 million MASK coins.

The recent price chart highlights fluctuations with brief up and down trends. Following these changes, the price stabilizes in a range of $3.05 to $3.25. This activity shows both buyers and sellers actively testing price limits.

Initially, Mask Network saw a slight rally to $3.17. This was followed by a sideways move with red and green candles mixed together, suggesting indecision among traders. Around midday, the price briefly dropped to $3.05, then rebounded above $3.15. This rally indicates some buying interest at lower levels. Later, the price moved back slightly to near $3.22, signaling possible resistance at this level.

In terms of volume, an early increase matched the initial upward price movement, indicating buying pressure. Thereafter, volume remained stable, with occasional spikes during larger price swings. A notable spike in volume coincided with the midday low, where buying at the support level appeared to push the price higher.

The chart shows mixed market sentiment, reflecting both bullish and bearish indicators. The early rally and midday recovery suggest cautious optimism, while frequent pullbacks suggest continued selling pressure. The minor retracement around $3.22 could signal some resistance, leading to a slight consolidation.

3. Elk (ELK)

Elk (ELK) is currently priced at $0.107, with a market cap of $1.73 million and a 24-hour trading volume of $7.38,000. Over the past 24 hours, ELK saw a notable price increase of 28.19%. Of its total supply of 42.42 million, approximately 16.13 million coins are in circulation.

Recently, ELK has shown a clear upward trend. Its price rose from around $0.085 to around $0.108, suggesting positive momentum. This increase has since stabilized, maintaining its level close to the recent peak.

In terms of price movement, ELK’s value was initially stable with low trading activity. However, around midday, a strong breakout occurred with several green candles pushing the price significantly higher. The price peaked near $0.1083 and then entered a consolidation phase with minor fluctuations. This trend suggests that buyers and sellers have reached a temporary balance of around $0.1078.

GOOD! Here we go! $ELK is now online @MEXC_Officiel!! Time to stock up while it’s hot. More big news coming soon! pic.twitter.com/XAoE514Yzq

– Elk Finance (@elk_finance) October 30, 2024

Volume accurately reflects these price movements. During the first stable phase, trading volume was minimal. Yet, as the breakout began, volume surged, indicating strong buying interest. This increased activity subsided after the peak, consistent with typical consolidation phases when trading slows.

Market sentiment appears bullish. The breakout higher and subsequent stabilization implies that buyers remain in control. Notably, the lack of post-uptick sell-off suggests limited selling pressure. If buying interest resumes, the price could continue to rise.

What could be the next hottest cryptocurrency?

Flockerz ($FLOCK) is a new meme coin that has quickly gained traction, raising $1.15 million during its ICO phase. Despite a broader market slowdown, with most tokens down compared to last week, Flockerz is showing surprising momentum. This decline in crypto markets is due to issues such as recent arrests of scammers in Japan and large-scale asset liquidations, which have impacted the value of tokens.

Launched recently, Flockerz aims to stand out in the crowded coin landscape. Investors can currently acquire $FLOCK tokens at $0.0058862, although prices are expected to increase soon. Once the presale is completed, the token will be available on centralized and decentralized exchanges. This exposure could strengthen Flockerz’s presence in the market. To ensure security, Flockerz has also conducted audits with Coinsult and SolidProof, which increases investor confidence.

The herd is so upright 📈 it puts us in a meditative state! 🧘 pic.twitter.com/TmWTgJ2KVm

– Flockerz (@FlockerzToken) October 30, 2024

A unique feature of Flockerz is its “Vote-To-Earn” system. Through FlockTopia, the project’s DAO, token holders can earn $FLOCK rewards by participating in project decisions. This allows users to guide the development, marketing and management of tokens. By involving users in decisions, Flockerz sets itself apart from many other meme coins.

Additionally, $FLOCK holders can earn 1451% APY through staking. However, returns are expected to decline as more tokens are staked. Prominent crypto influencers have endorsed Flockerz, highlighting its potential growth. Flockerz also has a growing social media presence, with around 2.9k followers on X and 1.5k on Telegram, aiming for open communication with its community.

Visit the Flockerz presale

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