Why These Altcoins Are Trending Today — April 11

The broader crypto market has reversed Thursday’s gains, with activity plunging significantly over the past 24 hours. The total cryptocurrency market capitalization has dropped by over $100 billion in a single day as investors react to macroeconomic pressures and shifting sentiment. 

Despite the market-wide downturn, a handful of altcoins are generating notable interest. Some of them include Babylon (BABY), Fartcoin (FARTCOIN), and Wayfinder (PROMPT). 

Babylon (BABY)

Today, BABY is a trending altcoin as Babylon, the Bitcoin staking protocol, officially launched its layer-1 blockchain “Genesis.” This launch supports the expansion of Babylon’s staking protocol, which has already attracted over $4 billion in total value locked (TVL).

BABY is trading at $0.088 at press time, down 28% over the past 24 hours. Despite the sharp decline, the altcoin has seen a massive surge in trading volume, signaling heightened selling pressure among market participants. Trading volume has skyrocketed by over 8,000% in the past day, now sitting at $590 million.

When an asset’s price falls while trading volume rises, it indicates strong selling pressure as more participants are offloading the asset. If this continues, BABY could fall to $0.079.

BABY Price Analysis. Source: TradingView

However, if it sees a positive shift in market trends, BABY could reverse its current trend, break past the resistance at $0.089, and charge toward $0.097.

Fartcoin (FARTCOIN)

Solana-based meme coin FARTCOIN is another altcoin trending today. It trades at a two-month high of $0.87, climbing 23% in the past day. 

Despite the severe market volatility witnessed this week, FARTCOIN has maintained its rally, rocketing over 80% in the past seven days. 

On the daily chart, the altcoin’s Chaikin Money Flow (CMF) rests above the center line and is in an uptrend. At press time, this momentum indicator, which measures how money flows into and out of an asset, is at 0.17. 

A positive CMF reading like this means that buying pressure is dominant. It suggests that FARTCOIN traders are confident and that more money flows into the asset than out.

If this trend persists, FARTCOIN could continue its rally toward $1.

FARTCOIN Price Analysis. Source: TradingView

Conversely, if traders resume profit-taking, it could trigger a price dip to $0.73. 

Wayfinder (PROMPT)

Wayfinder’s newly launched PROMPT is a trending asset today. The altcoin launched on April 9 across major exchanges, including OKX, KuCoin, Bitget, Gate.io, Coinbase, and Binance Alpha. 

However, its debut was overshadowed by an MEV exploit, wherein a bot named “Yoink” front-ran the airdrop to Kaito users, stealing 119 ETH.

This has triggered a post-launch decline in PROMPT’s value. It trades at $0.192, down 22% in the past 24 hours. If the selloffs continue, PROMPT could break below the $0.190 price range to trade at $0.187.

PROMPT Price Analysis. Source: TradingView

On the other hand, if the bulls regain dominance, they could drive PROMPT’s value past the resistance at $0.193.