After days of decline, the crypto market somewhat turned bullish, allowing most cryptos to paint their charts green. Among them, there are a few ERC 20 tokens that are showing potential for further growth going forward, and one of them might just outshine the rest. Ergo, let’s take a closer look at these top ERC 20 tokens.
1. Polygon (POL)
Polygon has been facing multiple setbacks over the past few months, despite undergoing a major upgrade. Nonetheless, considering its utility, popularity, and past successes, it remains one of the top ERC 20 tokens in the market. As the market turned bullish, the Polygon price reached $0.445 as its value increased by over 6% in the last 24 hours—instilling hope for a full-fledged recovery in the coming days.
Last year, Polygon pushed an update, which upgraded its native token MATIC to POL. During that time, several expected POL to explode, but the opposite happened. However, the recent push once again can stir up bullish sentiment around the token. In fact, POL’s daily chart points out a bullish pennant pattern.
At press time, the token was testing the support of the pattern. In the event of a breakout, POL might become one of the top gaining ERC 20 tokens, with an expected surge towards $0.7 in the near term.
2. Pikamoon (PIKA)
While Polygon is a mainstream crypto, considering its market cap, Pikamoon (PIKA) is an emerging ERC 20 token that bags immense potential. This is the case, as it offers multiple services that can attract a large chunk of crypto enthusiasts and, in turn, propel the token’s price up.
Pikamoon provides a number of benefits within the NFT ecosystem. Pikamoon is creating one of the most advanced GameFi metaverses in the world. To do this, the platform emphasizes immersive 3D graphics, artwork, and gameplay. On top of that, Dreva Metaverse custom experiences and competitive esports venues are exclusively available to Pikamoon NFT holders.
Analysis revealed that investors are actually considering buying the token. PIKA’s Relative Strength Index (RSI) registered an uptick—a sign of rising buying pressure. Whenever buying activity increases, it suggests that the possibility of a price rise is high.
Thanks to investors interest, PIKA price already surged by 4% in the last 24 hours and was trading at $0.0003851 with a market cap of over $6.7 million.
3. PEPE
PEPE, one of the most popular meme coins, also gained bullish momentum, which can be attributed to the current market condition. To be precise, PEPE price witnessed an over 6% daily price hike after a 14% weekly decline, making it trade at $0.0000173.
As per IntoTheBlock’s data, after the latest volatility in the meme coin’s price, nearly 68% of the total number of PEPE addresses remained in profit. Despite having no utility, the meme coin might outperform other ERC 20 tokens because of its loyal fan base.
Like Pikamoon, buying pressure on PEPE was also rising, which was evident from its Chaikin Money Flow (CMF), which moved slightly northward. However, the technical indicator MACD remained bearish—a challenge PEPE must overcome to sustain its uptrend.
4. AAVE
Pretty much outpacing the rest, AAVE is showcasing commendable performance with its 10% daily gains. At press time, AAVE price was at $292.38 with a market cap of over $4.3 billion. In addition to the latest price hike, AAVE’s trading volume also spiked by 45% during the same period. Generally, a rise in trading volume amidst a price increase legitimizes the uptrend, hinting at a continued bull rally.
Interestingly, the token’s price has already rebounded after touching the lower limit of the Bollinger Bands. Going forward, it faces a resistance near its 20-day simple moving average (SMA). A successful breakout above that level can potentially make AAVE one of the top gaining ERC 20 tokens in the coming days.
Conclusion
The change in market conditions is pushing most crypto prices up. These aforementioned ERC 20 tokens are showing immense growth potential. While these major tokens continue to grow, investors must not miss out on Pikamoon (PIKA) because it can outperform others.
Therefore, investors should keep a close eye on PIKA’s price movement, as this might be the right time to accumulate the token at a discounted rate and, in turn, enjoy other benefits that come along with it.
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