Top 3 trending altcoins in Nigeria in the second week of September

This week has seen a surge in trading activity in the digital asset market, with the global cryptocurrency market Capital increasing by 3% over the past seven days.

This momentum has spilled over to local markets, where several Token have attracted the attention of Nigerian traders. on-chain data over the past 24 hours shows that Portal To Bitcoin (PTB), CREPE, and PEPE are the three cryptocurrencies that have attracted the most attention from the region.

Portal To Bitcoin (PTB)

Portal To Bitcoin launched its mainnet on September 3, 2023, and the value of the PTB Token has skyrocketed since then. Trading at $0.0534 at the time of writing, the altcoin has gained nearly 25% in the past seven days alone.

PTB has posted a 27% intraday gain amid today’s broader market rally. However, the altcoin appears to be preparing for a correction as daily volume has dropped sharply, indicating increased profit-taking. It currently totals $122 million, down 32% over the past 24 hours.

When an asset’s price rises while volume falls, it indicates that the uptrend is losing momentum. Rising prices with falling volume indicate that fewer buyers are willing to enter at higher prices, leaving the rally vulnerable to a correction.

For PTB, this price-volume discrepancy suggests that the recent 27% intraday gain may be due to short-term speculation rather than sustained demand. If profit-taking continues to prevail, the Token may struggle to sustain gains and face a potential correction in the near term.

In this scenario, its price could drop below $0.0476.

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Conversely, if the bulls maintain their dominance and demand picks up, it could push PTB above $0.0550.

CREPE

BNB - chain CREPE is another trending altcoin in Nigeria today. Trading at $0.00001011, the Token has seen a modest gain of 3% over the past 24 hours.

Its Elder-Ray indicator shows that buying sentiment is strong. The Elder-Ray indicator measures the balance between bullish and bearish pressure by analyzing the difference between an asset's exponential moving Medium (EMA) and the strength of the bulls or bears in the market.

A positive reading, like CREPE’s current level of 0.000002205, shows that buyers are in control, suggesting bullish momentum in the short term. This means that traders are actively supporting and pushing its price higher.

If buying activity remains high, CREPE could attempt to surpass the $0.00001167 resistance.

However, if profit-taking increases, the Token risks losing its current gains and could fall back to $0.000005500.

PEPE

Solana -based frog-themed meme coin PEPE is another trending altcoin in Nigeria today. It is currently trading at $0.00001060, holding above the 20-day exponential moving Medium (EMA) on the daily chart.

The 20-day EMA tracks the Medium closing price of an asset over the last 20 trading sessions, with more weight given to more recent prices. When an asset is trading above this indicator, it shows that bullish momentum is in place and the market trend favors buyers.

If the buying pressure remains high, PEPE could clear the resistance at $0.00001070 and potentially surge towards the next important level at $0.00001269.

Conversely, if demand weakens and profit-taking increases, the Token price could drop to $0.00000830.