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The Mog Coin price plunged 7% in the last 24 hours to trade at $0.000002260 as of 02:21 a.m. EST on trading volume that jumped 44% to $52.8 million, according to CoinGecko.
Mog Coin Price On A Bearish Trend
The Mog Coin price trend appears to be shifting toward bearish momentum. This is evident from the downward-sloping trendline connecting recent lower highs and the price breaking below key horizontal support levels, forming a descending triangle pattern.
As a result of the downtrend from mid-November, the price of Mog Coin now trades below the 50-day Simple Moving Average (SMA), but maintains its position slightly above the 200-day SMA at $0.000002250.
Meanwhile, the Relative Strength Index (RSI) is also on a downtrend, currently at 34, indicating the asset is approaching the oversold zone at 30.
If the current trend continues, the price of Mog Coin could plunge even further, with the next possible support level at $0.0000016493, the previous support in November.
MOG/USDT Chart Analysis (Source: Tradingview)
Conversely, while the RSI indicates bearish momentum, the oversold proximity suggests that a potential relief rally or consolidation may occur soon. This can originate from the asset now being undervalued.
If the bulls take charge of the price at this level, MOG could go through a bullish trend reversal, with the next potential resistance at $0.0000030.
Meanwhile, investors are rallying behind a new meme coin called Catslap ($SLAP), a Mog Coin alternative that exploded on launch recently.
Analysts from the renowned YouTube channel 99Bitcoins, with over 710K subscribers, says $MOG has 100X potential.
A Promising Alternative To Mog Coin
Catslap Token is a rapidly growing cat-themed meme coin that also brings gamified clicker fun that’s just recently added a play-to-earn feature.
Players compete globally via its “Slapometer,” tallying slaps in a game that fosters an addictive, competitive environment. Its Slapometer has gone into overdrive already with more than 61.1 million slaps unleashed, and counting.
The team is burning SLAP tokens when slapping milestones are reached and so far more than 38.4 million SLAP have been burned.
SLAP already has a fully diluted market cap of almost $30 million amid speculation of a possible Coinbase listing. The team has boosted locked liquidity to $4.4 million as it moves to further boost investor confidence in the token.
Also boasting a reliable smart contract audit, Catslap is gaining traction among influencers and investors as it aims for centralized exchange listings.
Adding to momentum behind the meme coin is its partnership with Best Wallet, a fast-growing crypto wallet which connects Catslap Token to over 60,000 users, boosting its visibility.
You can also earn passively through the project’s staking feature, which offers a stellar 40% return.
We be cooking. Staking now live, all website buys will be staked for 7 days at 40% APY. Early unlock by burning 🔥🔥 pic.twitter.com/ZIUK9pd3sZ
— CatSlap (@CatSlapToken) November 21, 2024
You can purchase SLAP Token from its official website here. Buy before what the team says will be a major announcement in just 3 days.
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