Moo Deng Price Prediction: MOODENG Soars 98% On Binance Perpetual Contract As This Meme Coin Casino ICO Heads For $1M
The Moo Deng price has soared 102% in the last 24 hours to trade at $0.1414 as of 04:31 a.m. EST on a 299% surge in trading volume to $295 million.
This comes after Binance Futures launched a MOODENG USD-margined perpetual contract today at 10:00 UTC. Users will enjoy up to 75X leverage trading the asset.
The Moo Deng meme coin is based on a pygmy hippo from a zoo in Thailand that went viral online.
Moo Deng Price Could Continue Soaring
The Moo Deng price has been on a downtrend since October 11, as the bears took charge of the price at the $0.15 resistance, dropping within a falling wedge pattern, according to data from GeckoTerminal.
MOODENG has now crossed above both the 50-day and 200-day Simple Moving Averages (SMAs), which signals that the price of Moo Deng is currently on a bullish trend.
Moreover, the Relative Strength Index (RSI) has already crossed above the 70-overbought region, currently at 78, which signals that the Moo Deng price is currently bullish and under intense buying pressure.
The Moving Average Convergence Divergence (MACD) also affirms the bullish stance, as the blue MACD line crosses above the orange signal line, forming a bullish crossover, and supporting the general bullish prospects.
The Moo Deng price bulls are aiming at maintaining the bullish stance, which could push the price of Moo Deng towards a sustained bullish stance, as they target $0.25.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Banzai's board of directors approves purchase of Bitcoin as reserve asset
WalletConnect has opened WCT airdrop qualification inquiry