{"id":611786,"date":"2024-12-20T10:29:46","date_gmt":"2024-12-20T10:29:46","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=611786"},"modified":"2024-12-20T10:29:46","modified_gmt":"2024-12-20T10:29:46","slug":"mog-coin-price-prediction-mog-plunges-12-as-traders-eye-this-cat-themed-rival-thats-burning-1m-in-tokens","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/mog-coin-price-prediction-mog-plunges-12-as-traders-eye-this-cat-themed-rival-thats-burning-1m-in-tokens","title":{"rendered":"Mog Coin Price Prediction: MOG Plunges 12% As Traders Eye This Cat-Themed Rival That’s Burning $1M In Tokens"},"content":{"rendered":"

The Mog Coin price tumbled over 12% in the last 24 hours to trade at $0.000002195 as of 3:49 a.m. EST as investors offload their holdings in the meme coin on the market.<\/span><\/p>\n

With the 24-hour drop the MOG price suffered, the altcoin’s weekly performance is now more than 30% in the red.<\/span><\/p>\n

Mog Coin Price Resting On A Key Support<\/span><\/h2>\n

\"MOG<\/p>\n

4-hour chart for MOG\/USD (Source: GeckoTerminal)<\/span><\/p>\n

The Mog Coin price has been in a negative <\/span>sequence<\/span><\/a> over the last few days, printing a series of lower lows and lower highs during this period and resulting in the formation of a descending price channel. Now, the meme coin is resting on the support level at $0.000002167. Should it drop below this mark in the next few hours, MOG might fall to the next mark at $0.000001674.<\/span><\/p>\n

This drop might not happen if the <\/span>Mog Coin<\/span><\/a> price rebounds from the $0.000002167 support. In this alternative case, the crypto might try to break above the upper boundary of the bearish channel, which coincides with the resistance level at $0.000002554. Closing a 4-hour candle above this price point in the next 12 hours could lead to a climb to as high as $0.000003246.<\/span><\/p>\n

Technicals Show Bears Are Still In Control Of The Mog Coin Price <\/span><\/h2>\n

From a technical standpoint, indicators on MOG’s 4-hour chart warn the meme coin might keep dropping in the next 24 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are flashing bearish.<\/span><\/p>\n

RSI readings have dropped over the last few days, which signal that bulls have lost a lot of strength. With the current negative slope of the RSI line, it seems bears are still growing stronger against bulls. This could mean that sellers will exert even more pressure on the <\/span>Mog Coin<\/span><\/a> price in the coming 24 hours. <\/span><\/p>\n

Momentum currently favors sellers as well, which is evidenced by the MACD line positioning below the MACD Signal line. While the gradual increase in MACD Histogram values in the last couple of hours suggests a slight weakening in bearish momentum, this alone likely does not outweigh the decreasing RSI values and the negative price channel.<\/span><\/p>\n

While the Mog Coin price tries to hold onto key support, investors are flocking to cat-themed meme coin rival <\/span>Catslap (SLAP)<\/span><\/a> ahead of its $1 million token burn later today. This cut in supply combined with the hype around the new token could lead to a price surge in the near term.<\/span><\/p>\n

SLAP’s price has already soared more than 3,044% since its launch, but this might just be the beginning, according to crypto experts. In a recent video, popular YouTuber Jacob Crypto Bury told his more than 45.5K subscribers that SLAP has the potential to be the next 100X meme coin.<\/span><\/p>\n