Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Why These Altcoins Are Trending Today — January 8

Why These Altcoins Are Trending Today — January 8

BeInCryptoBeInCrypto2025/01/08 06:30
By:Aaryamann Shrivastava

Amid a $227 billion crypto market correction, SonicSVM, Virtuals Protocol, and Sui trend for unique reasons. Can they sustain momentum?

The crypto market experienced its first significant correction, shedding over $227 billion in value. Bitcoin’s drop below the $100,000 mark triggered declines across several altcoins, adding to the bearish momentum.

BeInCrypto has analyzed three altcoins that have captured attention and are trending today, trending for unique reasons amidst the market turmoil.

SonicSVM (SONIC)

SONIC gained significant attention in the crypto market over the last 24 hours due to its highly anticipated token generation event on Tuesday. This event has positioned SONIC as a trending topic within the altcoin space, highlighting its growing presence in the blockchain gaming ecosystem.

As part of the layer-2 gaming chain’s development on Solana, SONIC announced that participants in its TikTok-inspired tap-to-earn game would receive airdropped tokens based on their in-app progress. This strategic move aims to incentivize user engagement while enhancing the token’s utility within the platform.

Why These Altcoins Are Trending Today — January 8 image 0SONIC Price Analysis. Source:  TradingView

After its launch, SONIC experienced a notable price surge from its initial listing, currently trading at $0.93. The token is attempting to secure the $1.00 level as support. However, bearish market conditions might challenge its ability to sustain this critical level, potentially affecting its short-term outlook.

Virtuals Protocol (VIRTUAL)

VIRTUALS price has been under scrutiny following a significant 23% decline over the past week. This drop marked a sharp reversal from its previously bullish trajectory, raising concerns among investors about the altcoin’s ability to regain momentum in the near term. 

The loss was particularly notable as VIRTUAL had surged by 155% just a month prior, reaching a new all-time high of $5.25. This rapid rise showcased strong market confidence at the time, but the subsequent correction has left investors reevaluating their positions.

Why These Altcoins Are Trending Today — January 8 image 1VIRTUAL Price Analysis. Source:  TradingView

Currently holding above $3.26, VIRTUAL has an opportunity to recover, provided investors resist the urge to sell. A breach below $3.26, however, could invalidate any chances of recovery, leaving the altcoin vulnerable to further declines.

Sui (SUI)

SUI’s price mirrored VIRTUAL’s trajectory, recording a 14.6% decline within 72 hours after reaching a new all-time high (ATH) of $5.36. The sudden drop highlighted increasing selling pressure in the market.

The 28% year-to-date gains partially reversed as SUI slipped through $4.79 support, currently trading at $4.58. Bouncing off $4.05 support kept further losses at bay, but investors remain cautious.

Why These Altcoins Are Trending Today — January 8 image 2SUI Price Analysis. Source:  TradingView

A continued drawdown could see SUI retesting the critical $4.05 support level. However, reclaiming $4.79 as support might invalidate the bearish sentiment, enabling the altcoin to regain its upward momentum.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Subscribe to TANSSI Savings and enjoy up to 15% APR

Bitget Announcement2025/07/15 11:00

TACUSDT now launched for futures trading and trading bots

Bitget Announcement2025/07/15 10:40

Bitget Spot Bot adds PUMP/USDT

Bitget Announcement2025/07/15 08:00