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The Moo Deng price has skyrocketed 212% in the last 24 hours to trade at $0.2383 as of 11:51 p.m. EST on a 898% surge in trading volume to $828 million, according to CoinGecko.
This comes after Binance Futures announced the listing of MOODENGUSDT USD-Margined perpetual contract on October 25, offering traders leverage of up to 75X.
#Binance Futures will launch the USDⓈ-Margined $MOODENG Perpetual Contract at
🗓️ Oct 25 2024, 10:00 (UTC)
Read more 👉 https://t.co/FRuu1q8ZNA pic.twitter.com/Z9XLOaGwS2
— Binance Futures (@BinanceFutures) October 25, 2024
Inspired by a viral baby hippo named Moo Deng from Thailand’s Khao Kheow Open Zoo, the token has swiftly gained popularity after its debut on the popular Pump.Fun platform. Can the futures contract increase its popularity and help it climb even higher?
Major Moo Deng Price Indicators Show A Sustained Bullish Stance
According to the MOODENG/USDT chart analysis on the 4-hour timeframe, the Moo Deng price has been on a sustained downtrend in October, as the bears took control of the price at the $0.32 resistance to a falling wedge pattern.
However, after the announcement by Binance, the price of Moo Deng rallied above the wedge, as the bulls capitalized on the $0.06 main support level.
MOODENG now trades above both the 50-day and 200-day Simple Moving Averages (SMAs), which supports the overall bullish outlook.
The Relative Strength Index (RSI) is extremely high, sitting above 80 (around 82.94), which generally suggests overbought conditions. In typical scenarios, an overbought RSI might indicate a potential pullback or consolidation. However, during a strong breakout, RSI can stay elevated, so it may not lead to an immediate reversal.
The Moving Average Convergence Divergence (MACD) histogram and lines appear to be showing a bullish crossover, with the MACD line crossing above the signal line. This crossover supports the bullish momentum and indicates that buyers are currently in control.
MOODENGUSD Chart Analysis (Source: Tradingview)
Moo Deng Price Prediction
The Moo Deng price analysis shows that the bulls consistently push MOODENG on the last day, with major indicators supporting the continued bullish trend. If the bulls sustain this momentum, the potential target area appears to be around $0.50, suggesting an anticipated 118% move from the breakout level.
Meanwhile, the RSI shows that the price of Moo Deng is currently overextended and thus, oversold. This signals a possible pullback in the short term. In this scenario, the Moo Deng price could plunge back to the $0.09 support.
As the Moo Deng price soars, investors are also sending cash to a new meme coin presale called Crypto All-Stars (STARS), which ClayBro, a popular crypto YouTuber with over 130K subscribers, says could soar 10X after its launch.
Crypto All-Stars Heads For $3 Million
Crypto All-Stars has raised over $2.76 million as traders buy into the idea of a platform that allows investors the opportunity to stake all their meme coins on one platform for the first time.
It makes that possible via its innovative MemeVault protocol, which from launch will enable the staking of 11 top meme coins: Dogecoin, Shiba Inu, Pepe, Floki, Brett, Mog Coin, Milady, Turbo, Toshi, Coq Inu, and Bonk. More meme coins will be added in the coming months.
Why Is Everyone Excited?
In its initial presale phase, Crypto All-Stars raised over $350k! 💰
This early success shows that investors see BIG potential here. 🚀
Could this be the next $PEPE? 👀
— web3telepath (@web3telepath) August 15, 2024
You can also earn passively through the project’s native staking mechanism, which offers a huge 557% annual percentage yield (APY).
You can buy the token now for $0.0015248. But the price will increase in less than 2 days, so interested investors should act fast to lock in the best deal.
Purchase $STARS from its official website here using BNB, USDT, or a bank card.
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