Mog Coin flipped BOME by market capitalization, rising over 100% up to now week.
Technical indicators steered potential overbought circumstances for Mog Coin’s present worth rally.
Ethereum [ETH] memecoin Mog Coin [MOG] has been experiencing a notable improve in worth, with its worth 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 worth motion, the each day buying and selling quantity has decreased by 32.98% to $53.47 million. Therefore, whereas investor confidence rose, buying and selling exercise declined, indicating attainable consolidation.
Ethereum’s MOG flips Solana’s BOME
MOG Coin not too long ago flipped BOOK OF MEME [BOME] whereas showcasing a surge of over 115% up to now week. This spectacular efficiency has propelled MOG to turn into one of many top-performing meme cash.
Hypothesis is rising about whether or not MOG may also surpass BONK, pushed by renewed curiosity within the Solana [SOL] ecosystem and optimistic developments within the crypto ETF house.
Supply: Crypto Bubbles
OSF, a determine within the crypto house, commented that MOG’s development over the previous yr exemplified a well-executed memecoin technique.
This community-driven momentum has been a vital think about MOG’s speedy ascent available in the market.
Equally, Eddie, a crypto dealer on X (previously Twitter), remarked,
“$MOG nonetheless holding up, getting plenty of timeline mentions & principal mog homies like @kmoney_69 doubling down on memeing the token.”
He added,
“I opened a commerce round right here, large 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 worth chart for Mog Coin confirmed a rising wedge sample at press time, indicating potential upward momentum within the brief time period.
The Bollinger Bands steered that MOG was experiencing volatility, with the worth hovering close to the higher band, usually signifying overbought circumstances.
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 keeping with IntoTheBlock, transaction statistics for Mog Coin revealed an general improve in each transaction quantity and worth 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 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.