thenewscrypto.com
- MOG trades at $0.000002408, with a 39% spike.
- The daily trading volume has increased by over 354%.
The crypto market witnessed a remarkable surge in meme coins. The meme market cap has reached $125 billion, marking an 8% surge in the last 24 hours. The major meme coins led the charge among the gainers list. Market analysts forecast the meme coin rally with the asset’s gain in the double digits.
Notably, with a market cap of $930 million, the Mog Coin (MOG) price rallied over 39.50% in the last 24 hours. The meme coin is currently trading at $0.000002408 and is preparing for a potential breakout. The daily trading volume has reached $163 million. With an intraday trading at $0.000002559 from the opening price of $0.00000172, the asset initiated a breakout surge.
On the weekly chart, MOG’s price has formed a series of highs and lows, and the price has increased by over 22.20%. However, the asset began to trade at $0.000001977 and continued its upside momentum to date.
Will the Bullish Trend of MOG Persist?
The current market sentiment of MOG is in the neutral zone and might enter the overbought territory as the daily relative strength index (RSI) is positioned at 68. Besides, the daily frame of the asset discloses the short-term 9-day moving average over the long-term 21-day moving average.
In addition, the four-hour price chart of MOG hints at the upside correction. If the ongoing positive momentum continues, the asset might visit the $0.000002627 mark. Further gains might potentially enable MOG to climb higher.
On the flip side, if the market sentiment of the meme coin shifts from bullish to bearish, MOG’s price may lose its recent gains and fall toward $0.000002229. A consistent downturn might further depress the meme coin’s price.
Analyzing the technical indicators of the MOG, exposed the bullish sentiment as the Moving Average Convergence Divergence (MACD) line aligned above the signal line. This highlights the incoming positive trend in the market.
Moreover, the Chaikin Money Flow (CMF) indicator is positioned at 0.01, suggesting a regular money flow, if it ascends, the possibility of further upside correction and demand is suggested. Meanwhile, MOG’s daily trading volume has increased by over 354%.
Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.