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The Moo Deng price surged 4% in the last 24 hours to trade at $0.2256 as of 3.23 a.m. EST on trading volume that plunged 30% to $162.58 million.
The popular meme coin based on a real-life pygmy hippo from Thailand has seen a major price drop through most of October, something that finally started to change on October 25 when its price jumped by over 164%.
Even so, the MOODENG price suffered a rejection after reaching the barrier at $0.25, resulting in a 17% drop compared to the same time last week. The project’s price drop comes as part of the bearish wave that affected the broader market over the weekend.
MOODENG reached the resistance at $0.25 on early Sunday morning, only for its price to start spiraling down immediately after that to the support at $0.20. However, the start of the new week is seemingly bringing a recovery, not only for the hippo meme coin but the wider market as well.
Moo Deng Price Prediction
Despite the fact that its monthly performance is fairly unimpressive, the MOODENG price is doing exceptionally well at the time of writing. The token started a recovery several hours ago and is now skyrocketing as the start of the week is bringing forth a new rally.
The project’s Bollinger bands have started widening considerably with the price pushing the upper band further up, after previously balancing around the middle range between the two bands.
Meanwhile, Moo Deng’s Relative Strength Index (RSI) value started skyrocketing around the same time, going from the edge of the oversold area to the beginning of the overbought zone. This rapid price surge is likely to result in another rejection, as traders are likely waiting for the RSI to hit the value of 70 before they start selling again in order to take profit.
However, given that the bull run has seemingly spread throughout the market, MOODENG could yet breach the resistance and turn it into a new support, although this is less likely given how rapid the surge was.
Typically, sharp price boosts result in equally sharp drops, so anyone looking to buy MOODENG in the next few hours should be aware of the fact that a dip could happen once the technical indicators reach a critical point.
Promising Alternative to Moo Deng
With the price of Moo Deng surging and possibly about to see another rejection, investors might want to consider a meme coin presale like Crypto All-Stars (STARS).
The project has already raised over $2.81 million and ClayBro, a YouTuber with over 130k subscribers, says it might provide returns of 67x after launch.
Funds are pouring into Crypto All-Stars because the project has developed a unique multi-coin smart contract that focuses on the industry’s largest meme coins.
Known as MemeVault, it allows users to stake multiple meme coins together on a single platform for the first time. It will be possible to stake eleven top meme coins on the platform after launch, including Dogecoin, Shiba Inu, Pepe, Brett, Turbo, and Bonk.
More meme coins will be added in the coming weeks.
This positions Crypto All-Stars as the future epicenter of meme coin staking. As a result, STARS is now approaching $3 million in funds raised.
STARS tokens sell for $0.0015309 apiece right now and can be bought with USDT, ETH, BNB, DOGE, FLOKI, PEPE, SHIB, or credit/debit cards.
Buy STARS here before a price hike in less than 3 days.
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