The ex-Man Utd striker took over when Geremi was substituted at the weekend, and having picked up rave reviews from the Newcastle manager, he seems to be the favourite.
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Allardyce: "I have had a lot of difficult decisions to make since I came to St James' Park, but I have to say deciding on just who was going to be my captain was probably one of the most difficult - and now I will have to decide again.
"Obviously we are losing Geremi at the turn of the year and I will give a lot of thought as to who will replace him as captain of Newcastle United."
Goalkeeper Shay Given has done the job in the past, as has striker Michael Owen, and there are plenty of candidates within the squad.
Midfielder Nicky Butt leads by example, while £5.8million signing Joey Barton took on the responsibility of converting his side's last-minute penalty at Fulham on Saturday, but would be a much more controversial option after his outspoken comments and previous track record.
Geordie defender Steven Taylor, 21, would be a popular choice with the fans, although he is not yet an automatic selection and Allardyce, while impressed with his progress, insists he still has much to learn.