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The Mog Coin price has slumped 18% in the last 24 hours to trade at $0.000001414 as of 7 p.m. EST on an 8% drop in trading volume to $50 million.
MOG’s plunge made it the biggest loser among the largest meme coins by market capitalization, according to CoinMarketCap.
Mog Coin Price Faces Resistance Despite Strong Rally
The MOG price has declined from the resistance level of $0.000002363 but is steadily rising within a bullish channel as bulls work to drive the price higher.
According to GeckoTerminal, the bulls appear to be regrouping and establishing a solid support zone at $0.0000008109, which aligns with the channel’s lower trendline. If this pattern continues, the price could rebound to the previous resistance level, potentially allowing the bulls to recover their profits.
MOGUSDT Analysis (Source: Tradingview)
The MOG price is trading below the 50 simple moving averages (SMAs), but remains relatively above the 200 SMA, which gives the bulls an upper hand and a chance to regroup and push the price up again. Additionally, the moving average crossover at $0.0000006186 further supports the potential for upward movement, affirming the overall positive trend.
The Relative Strength Index (RSI) shows a bearish trend, falling from the 70 overbought zone past the 50 midline level to 39. If the downtrend continues, the RSI could quickly slip to the 30 oversold level before regaining an upwards.
Additionally, the MACD indicates a downtrend from below the neutral level, with the blue average line crossing above the orange signal line, signalling intense buying pressure for MOG. The histogram bars have also turned green and are positioned above the neutral line, reinforcing the overall bullish sentiment.
Mog Coin Price Prediction: Bulls Could Cause A Rebound On Channels Lower Boundary
MOG price bulls may get a chance to drive the price up on the channel’s lower trendline. moreover, the support from the 200 SMA could help the bulls rally back. In such a scenario, bulls may aim for a new peak above the resistance level. If they keep up their momentum, they could drive the price to $0.000002590 in the coming weeks.
However, if the bears continue the downtrend they force the price to slip below the lower boundary of the channel and push the price below the 200 SMA to $0.0000008109. A further downturn could see the price fall, forcing the bulls to retreat further to $0.0000005373.
A Promising Alternative
Traders looking for meme coins at an earlier stage in their journey, and thus arguably with more upside potential, might consider Pepe Unchained ($PEPU), one of the most successful ICOs of the year and with the added advantage that while in presale it remains protected from the current meme coin slump.
PEPU distinguishes itself from other meme coins with its own native Layer 2 network, offering unparalleled speed, scalability, and much lower fees.
The platform aims to achieve transaction speeds 100 times faster than most meme coins on Ethereum. Besides its improved transaction capabilities, Pepe Unchained’s Layer 2 chain will also include an explorer.
Who’s ready for the next stage of Pepe’s adventure? 🚀
A new dimension of Pepe has been unlocked! Join Pepe's Layer 2 now and experience the future. 🐸🧠 pic.twitter.com/8NGeDIdXUg
— Pepe Unchained (@pepe_unchained) June 26, 2024
Beyond its speculative appeal, the team behind Pepe Unchained rewards early buyers generously. Participants in the current presale can purchase the meme coin and take advantage of an enticing staking opportunity with a 280% Annual Percentage Yield.
The 99Bitcoins YouTube channel, with more than 706k subscribers, says PEPU has the potential to lead the next bull market and even become the top meme coin
Investors interested to join those who have already pumped almost $7 million into PEPU can buy the token for $0.0088396. But hurry because the price is set to increase in less than 9 hours.
Buy PEPU here using ETH, USDT, BNB, or a bank card.
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