MOG Coin Explodes Following Rectangle Pattern Breakout

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Mog Coin (MOG), a crypto token relentlessly dedicated to memes and viral brilliance, has exploded in double digits to trade at $0.000000021 on Thursday, according to crypto aggregator platform Dextools.

The token was first listed publicly in July and started trading at $0.0000000046. A rally followed the launch in August, achieving a new all-time high of $0.00000011 per MOG.

However, profit-booking activities followed the ATH, resulting in a rug pull-like selloff throughout September, retesting $0.000000012. Mog Coin settled in a narrow range between $0.000000014 and $0.000000018, which later transformed into a bullish rectangle pattern, hence the ongoing breakout.

Mog Coin Price Explodes Out of Rectangle Pattern

A rectangle pattern forms when the price of an asset is bound by a parallel support and a parallel resistance. It marks a consolidation period, otherwise called indecision between bulls and bears as they wrestle with neither of them giving in.

A rectangle pattern is neutral. This implies that it has no bullish or bearish biases. As the price hits support and resistance severally, it naturally trends toward the breakout.

The Mog Coin’s 28% rally followed a break above the $0.000000018 resistance – a level reinforced by the 50 Exponential Moving Average (EMA) (red). Rising trading volumes are crucial during trend reversals, they help to build momentum and sustain the uptrend.

Mog Coin price chart — MOG/USD four-hour chart | Tradingview

With the rally almost hitting the rectangle pattern’s 30% target, Mog Coin price sits on top of the 100 EMA (blue) at $0.00000002, which may relieve buyers in case of a retracement.

Traders are at liberty to hold their long positions in MOG intact, bolstered by the bullish outlook from the Moving Average Convergence Divergence (MACD) indicator. A buy signal validated the rally with the blue MACD line stepping above the signal line in red. The momentum indicator has also been trending upwards into the positive region – above the mean line at 0.00.

However, caution is advised for traders as the Relative Strength Index (RSI) pushes into the overbought region. A retracement is likely to follow to allow Mog Coin to sweep through more liquidity as already sidelined investors rush to buy lower-priced MOG tokens.

The SuperTrend indicator on the daily chart holds above Mog price as a signal that the uptrend may not last and a correction may follow shortly. Like a moving average, this indicator overlays the chart. It also goes further and taps the readings of the average true range (ATR) to gauge volatility in the market.

It sends a bearish signal when it sits above the price and a bullish signal when trailing the asset.

Bulls can turn the SuperTrend in their favor if they push the uptrend higher. The Directional Movement Index (DMI) which measures both the strength and direction of a price movement, shows that bulls have the upper hand. Traders should consider buying more into MOG if the blue +DI line crosses above the -DI line.

What’s Behind Mog Coin Price Rally

It is unclear what is behind MOG’s 28% upswing, but being a meme coin, the price could ride on the hype within the community. The project’s official X channel shows a vibrant community that cherishes memes and the MOG token.

https://twitter.com/APatientDreamer/status/1706924399654301963

Mog Coin is available for trading on decentralized and centralized exchanges (DEXs and CEXs), such as LBank, Bitget, SuperEx, Uniswap v3 (Ethereum), and Poloniex. Its circulating supply remains unknown, but it has a total supply of 420 trillion MOG tokens.

Promising Mog Coin Alternative To Buy – MK Kombat

As the Mog Coin price rally nears its peak amid a glaring correction, the newest meme coin kid on the block, Meme Kombat, is rising. Although live only for a few days, its presale is taking off with more than $112k raised.

Unlike other meme coins that launch without any tangible use cases, Meme Kombat is an innovative blockchain network designed to combine the power of memes and play-to-earn (P2E). The team believes that building on the Ethereum blockchain allows for developing a unique and engaging experience.

$MK | Meme Kombat is an innovative new gaming platform designed for gaming enthusiasts. #GameFi sector is growing, so it is worth checking 💯

Devs are doxxed on website, presale is ongoing and they already raised $100K+ | Check details below👇 and Dyor@Meme_Kombat
TG:… pic.twitter.com/wNlFytuOEC

— $SHIB KNIGHT (@army_shiba) September 27, 2023

At the core of the P2E and gaming ecosystem is the Meme Kombat Token ($MK). The token is used to facilitate activities on the network, including serving as the currency of the Meme Kombat arena game to automate battles, wagering, and staking for users to earn passive income.

Investing in the Meme Kombat presale sets investors up for success thanks to an innovative program allowing the tokens bought to be staked automatically and earn rewards.

Newest Meme Coin ICO - Wall Street Pepe

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