The altcoin market, always a hive of activity, is currently presenting a fascinating scene: right now, the Total3 index, which tracks the market cap of altcoins excluding Bitcoin and Ethereum, is hovering around $411 billion. This is a critical point, as it’s interacting with a significant resistance level that previously acted as a barrier. Now, it’s more of a pivot area, hinting at a potential uptrend, especially for meme coins like Shiba Inu (SHIB) and Floki Inu (FLOKI).
Source: TradingView
The market’s current pause at this junction seems to reflect a collective breath-holding among traders, all eyeing past price patterns and waiting for a decisive move. The Relative Strength Index (RSI) has cooled down to a comfortable 45, stepping back from overbought territories. This suggests that there’s still room for growth in SHIB and FLOKI before they hit their peaks. The ability of the altcoin market to maintain its bullish stance, despite various corrections, indicates a strong undercu
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