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The Degen price soared 150% in a week and 68% in the last 24 hours to trade at $0.006821 as of 12:27 a.m. EST on trading volume that surged 1,220% to $289 million.
Degen Price Parabolic Surge Signals A Continued Rally
The DEGEN price chart on the daily timeframe reveals a significant shift in momentum. For a prolonged period stretching from late 2024 into early 2025, the Degen price was constrained within a clearly defined falling channel, indicating a strong downtrend.
This bearish structure dominated the chart until mid-April 2025, when the price action began forming a parabolic curve, a classic sign of accelerating bullish momentum, as GeckoTerminal data shows.
This parabolic formation eventually culminated in a powerful breakout, propelling the price of DEGEN sharply upward, surpassing both the 50-day and 200-day Simple Moving Averages (SMAs).
The breakout not only breached the upper boundary of the falling channel but also drove DEGEN to test resistance levels near $0.009, which closely aligns with the 200-day SMA.
However, the current daily candle indicates a pullback, suggesting a possible correction after a rapid and unsustainable upward move.
Meanwhile, the Relative Strength Index (RSI) is at 70.79, entering overbought territory, which signals that the asset may be overextended and due for a short-term pullback or consolidation.
The Moving Average Convergence Divergence (MACD) line (blue) has crossed above the signal line (orange), and both are trending higher in positive territory. This bullish crossover confirms upward momentum and supports the breakout narrative.
DEGEN Is Bullish
As a result of the breakout from the falling channel and the establishment of a parabolic curve, the overall trend for the DEGEN price has turned bullish in the short term.
However, the current rejection at the 200-day SMA, combined with an overbought RSI, suggests that a pullback is likely in the immediate future.
Should the price of DEGEN stabilize above the 50-day SMA during this correction and manage to break and hold above the 200-day SMA, the asset could target the $0.010–$0.012 region as its next bullish objective.
On the downside, DEGEN may find support near $0.005–$0.006, which aligns with the mid-region of the parabolic curve and prior resistance levels turned support.
Meanwhile, investors are piling into a new AI project called SUBBD Token (SUBBD). According to influential YouTube channel 99Bitcoins, which has over 725K subscribers, SUBBD has the potential to be the next 100X crypto.
SUBBD Presale Racing Towards $500K – Next Crypto To Explode?
SUBBD is a new AI-powered content creation platform aiming to reshape how creators and fans engage online.
So far, the project has raised $382K in a little longer than a month of the presale launch.
SUBBD gives creators access to AI assistants for automating everything from content production to workflow management, reducing time and costs.
Meanwhile, fans can interact with AI-generated influencer personas, gain access to exclusive content, and even stake tokens to unlock perks and rewards.
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The platform supports seamless payments in both fiat and crypto, which enable fast, cost-effective, and transparent payments.
SUBBD token holders also have an opportunity to earn passively through the project’s staking platform, which offers a massive 20% annual percentage yield (APY).
Investors interested in participating in the presale can visit the official SUBBD website to buy SUBBD tokens for $0.0554 each using crypto or a bank card.
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