- Mog Coin trades at $0.0000011 after a 16% jump.
- MOG’s daily trading volume has surged by over 140%.
The broader crypto market has witnessed a brief spike, with the meme coin market cap reaching $60.1 billion, after a 2.6% gain in the last 24 hours. Major meme tokens have lit up the green candlesticks, and some are found in red. Across the meme coins, the Mog Coin (MOG) price has posted a double-digit gain of over 16.91%.
At the time of writing, the meme coin trades at around $0.000001134, with a market cap of $442 million. Mog Coin kicked off the day trading at $0.0000009648, and later the bulls awakened and initiated a breakout, reaching a high range of $0.000001143. Moreover, the daily trading volume of MOG has soared by over 140%, touching $31.24 million.
On analysing the thirty-day chart, the meme coin has climbed over 34.30%, supported by a pattern of consecutive highs and lows. MOG’s monthly high and low were noted at $0.0000012 and $0.00000069 zones, respectively. Later, the bullish pressure has sent the price to the current trading level.
Will Mog Coin Hold On to Its Upward Momentum?
Mog Coin’s Moving Average Convergence Divergence (MACD) line, aligned above the signal line, indicates that the bullish momentum in the asset’s price is building. Also, the buying pressure is stronger than the selling pressure. Notably, the Chaikin Money Flow (CMF) indicator found at 0.11 suggests that more money is flowing into the asset than out. It is likely to support the upward momentum to continue.
The meme coin’s daily Relative Strength Index (RSI) is resting at 73.66, hinting at its overbought condition. Further, this may also result in a potential price pullback or consolidation. Besides, MOG’s Bull Bear Power (BBP) reading of 0.0000001639 signals that the bulls are moderately dominant, but not strong enough to confirm a breakout.
In addition, the four-hour trading window of Mog Coin reports an upside correction. With the support of the bulls, the price could rise to its crucial resistance near the $0.000001150 range. If the uptrend continues to gain strength, the asset might initiate the golden cross to form and trigger the price to climb above $0.000001162.
Conversely, assuming the price trajectory of the asset flips from bullish to a bearish crossover, the meme coin price might lose its recent gains and drop sharply toward the level of $0.000001129. An extended downside correction could push the emergence of a death cross, depressing the MOG price to the $0.000001115 zone.
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