The Moo Deng price has surged 98% in the last 24 hours to trade at $0.2076 as of 3:28 a.m. EST on a 62% pump in trading volume to $96 million.
The Solana-based MOODENG token was inspired by a pygmy hippo from Thailand, which became an online sensation. It’s soared to a market capitalization of $195 million.
Moo Deng Price Spikes In A Parabolic Curve
The 4-hour chart of the MOODENG/USD trading pair shows a strong bullish trend, with the price following a parabolic curve. This parabolic move indicates a rapid acceleration in price, suggesting a significant bullish momentum. However, sharp corrections often follow parabolic rises once the momentum slows down.
Before the breakout, the price consolidated within a support zone, providing a base for the current uptrend. This zone could be a critical level to watch for any potential pullbacks or corrections.
MOODENG Analysis Source: Dextools.io
Moo Deng Price Indicators Confirm The Bullish Momentum
The 50-SMA (Simple Moving Average) is far below the current price, at around $0.06533, highlighting the magnitude of the recent upward move. If the price retraces, the 50-SMA may act as a dynamic support.
The technical indicators further confirm this bullish momentum. The MACD (Moving Average Convergence Divergence) line is positioned well above the signal line, indicating a strong uptrend.
The MACD histogram is also positive, signaling to grow bullish momentum. However, the RSI (Relative Strength Index) is currently at 84.06, well into overbought territory (above 70). This suggests that while the market is experiencing a strong bullish push, it may be due for a correction or consolidation soon, as the asset is technically overbought.
While the current outlook is strongly bullish, as indicated by the parabolic price movement and positive MACD, the overbought RSI suggests caution. A potential correction or consolidation could occur before further upward movement. Monitoring key support levels, such as the 50-SMA and the previously established support zone, will be crucial in assessing the next steps in the price action.
Pepe Unchained ICO Roars Past $15.5M: Next Crypto To Explode?
As the Moo Deng price continues to surge, investors are rushing to buy a layer-2 meme coin called Pepe Unchained (PEPU) , which has just blasted past $15.5 million in one of of the most successful presales this year.
This surge in momentum has drawn the attention of popular YouTuber ClayBro, who has over 130K subscribers. He notes that whale investors are among those “loading up” on PEPU tokens.
Pepe Unchained (PEPU) is stepping in to bring a much-needed upgrade to the crowded meme coin space, which has caused issues like outages on both the Solana and TON blockchains.
By launching on its own layer-2 blockchain, PEPU aims to reduce the heavy computational load that meme coins often place on layer-1 networks. It does this by shifting transaction processing to a separate blockchain, making things smoother and more efficient.
This means transaction speeds of up to 100 times faster, and much lower costs when sending or receiving crypto using the Pepe Unchained network.
As a layer-2 solution, PEPU also gives investors the flexibility to easily transfer value between the secure Ethereum network and the fast-paced Pepe Unchained blockchain, making it a promising option for the meme coin sector.
Developers will also be able to build decentralized applications on the Pepe Unchained network, expanding its use beyond just meme coins. This comes alongside the launch of the “Frens With Benefits” developer grant program, aimed at supporting innovative projects on the new chain.
PEPU also offers an attractive 136% annual yield for investors who stake their tokens.
If you are interested, you can buy PEPU at $0.00986 using ETH, USDT, BNB, or a bank card. But don’t take too long as the price is set to increase in just over a day.
Purchase PEPU on the official website here.
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