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- Mog Coin flipped BOME by market capitalization, rising over 100% previously week.
- Technical indicators urged potential overbought situations for Mog Coin’s present worth rally.
Ethereum [ETH] memecoin Mog Coin [MOG] has been experiencing a notable enhance in worth, with its worth rising by 10.31% previously 24 hours to $0.000001922, per CoinMarketCap.
The market cap has equally surged by 8.92%, reaching $692.62 million, putting it at rank #97.
Regardless of this constructive worth motion, the each day buying and selling quantity has decreased by 32.98% to $53.47 million. Therefore, whereas investor confidence rose, buying and selling exercise declined, indicating potential consolidation.
Ethereum’s MOG flips Solana’s BOME
MOG Coin just lately flipped BOOK OF MEME [BOME] whereas showcasing a surge of over 115% previously week. This spectacular efficiency has propelled MOG to change into one of many top-performing meme cash.
Hypothesis is rising about whether or not MOG may also surpass BONK, pushed by renewed curiosity within the Solana [SOL] ecosystem and constructive developments within the crypto ETF area.
Supply: Crypto Bubbles
OSF, a determine within the crypto area, commented that MOG’s progress over the previous yr exemplified a well-executed memecoin technique.
This community-driven momentum has been an important consider MOG’s fast ascent available in the market.
Equally, Eddie, a crypto dealer on X (previously Twitter), remarked,
“$MOG nonetheless holding up, getting numerous timeline mentions & fundamental mog homies like @kmoney_69 doubling down on memeing the token.”
He added,
“I opened a commerce round right here, vast cease loss and on the lookout for momentum to proceed. I’ll shut my commerce if the market breaks down or MOG chart reveals weak spot.”
Supply: Eddie/X
Technical evaluation and market indicators
The value chart for Mog Coin confirmed a rising wedge sample at press time, indicating potential upward momentum within the brief time period.
The Bollinger Bands urged that MOG was experiencing volatility, with the value hovering close to the higher band, usually signifying overbought situations.
The present ranges have been considerably above the transferring common, reinforcing the bullish sentiment.
At press time, the Relative Energy Index (RSI) was at 70.10, coming into the overbought territory, which may sign a possible pullback or consolidation quickly.
The Commodity Channel Index (CCI) was additionally in a excessive vary at 114.29, additional suggesting that MOG is likely to be overextended.
Merchants ought to look ahead to any bearish divergence or a break under the rising wedge sample, which may point out a reversal or correction.
Supply: TradingView
In line with IntoTheBlock, transaction statistics for Mog Coin revealed an total enhance in each transaction quantity and worth from late February to early Could 2024.
Learn Mog Coin’s [MOG] Price Prediction 2024-25
The variety of transactions peaked in late Could, aligning with a worth surge, earlier than they started to say no in June.
This sample indicated a interval of heightened exercise and curiosity within the Ethereum-based memecoin, adopted by a subsequent lower in market engagement.
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