- Mog Coin flipped BOME by market capitalization, rising over 100% up to now week.
- Technical indicators recommended potential overbought situations for Mog Coin’s present price rally.
Ethereum [ETH] memecoin Mog Coin [MOG] has been experiencing a notable improve in worth, with its price rising by 10.31% up to now 24 hours to $0.000001922, per CoinMarketCap.
The market cap has equally surged by 8.92%, reaching $692.62 million, inserting it at rank #97.
Regardless of this optimistic price motion, the day by day buying and selling quantity has decreased by 32.98% to $53.47 million. Therefore, whereas investor confidence rose, buying and selling exercise declined, indicating potential consolidation.
Ethereum’s MOG flips Solana’s BOME
MOG Coin just lately flipped BOOK OF MEME [BOME] whereas showcasing a surge of over 115% up to now week. This spectacular efficiency has propelled MOG to develop into one of many top-performing meme cash.
Hypothesis is rising about whether or not MOG will even surpass BONK, pushed by renewed curiosity within the Solana [SOL] ecosystem and optimistic developments within the crypto ETF area.
Supply: Crypto Bubbles
OSF, a determine within the crypto area, commented that MOG’s progress over the previous yr exemplified a well-executed memecoin technique.
This community-driven momentum has been an important consider MOG’s speedy ascent out there.
Equally, Eddie, a crypto dealer on X (previously Twitter), remarked,
“$MOG still holding up, getting lots of timeline mentions & main mog homies like @kmoney_69 doubling down on memeing the token.”
He added,
“I opened a trade around here, wide stop loss and looking for momentum to continue. I will close my trade if the market breaks down or MOG chart shows weakness.”
Supply: Eddie/X
Technical analysis and market indicators
The price chart for Mog Coin confirmed a rising wedge sample at press time, indicating potential upward momentum within the quick time period.
The Bollinger Bands recommended that MOG was experiencing volatility, with the price hovering close to the higher band, typically signifying overbought situations.
The present ranges had been considerably above the transferring common, reinforcing the bullish sentiment.
At press time, the Relative Energy Index (RSI) was at 70.10, getting into the overbought territory, which might 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 could be overextended.
Merchants ought to look ahead to any bearish divergence or a break beneath the rising wedge sample, which might point out a reversal or correction.
Supply: TradingView
In line with IntoTheBlock, transaction statistics for Mog Coin revealed an general improve in each transaction quantity and price from late February to early Might 2024.
Learn Mog Coin’s [MOG] Worth Prediction 2024-25
The variety of transactions peaked in late Might, aligning with a price 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.