A major market player has taken advantage of the recent dip, significantly increasing its holdings in Moo Deng [MOODENG], drawing investor attention.
A $33 Million Bet on MOODENG
According to Arkham data, the whale purchased 11.8 million MOODENG worth over $5.37 million from exchanges Gate and OKX in the past two weeks. Currently, the whale holds 104.52 million MOODENG (valued at $33.3 million), representing 10.5% of the total supply, making it the largest holder of the token.
This significant investment suggests that the whale believes in a potential recovery in the MOODENG market.
Declining Trading Volume and Price
Since mid-November, the trading volume of MOODENG on decentralized exchanges (DEX) has dropped from $250 million to less than $50 million. This decline has been accompanied by a 55% price drop, with MOODENG falling from $0.7 to the current $0.3.
Despite this downturn, the token retains more than 50,000 users, indicating continued interest, which could support a price rebound.
Key Support Levels and a Potential Reversal
On the price chart, MOODENG has reached a crucial support level that may trigger a price rebound:
The 61.8% Fibonacci retracement level ($0.3) aligns with a key bullish order block, which previously prevented further price declines in early November.
This level also aligns with a trendline support, strengthening its position as a strong support zone.
If market sentiment improves in the coming days, MOODENG has the potential to rally upward from this level.
Positive Market Signals
The market positioning indicates a bullish outlook:
On major exchanges like Binance, 68% of positions are long, signaling that most investors are betting on a MOODENG price recovery.
The growing number of long positions reflects increased confidence in the token’s ability to rebound.
What to Watch Next?
Whales like this largest holder play a critical role in influencing prices. Their actions—such as any potential selling—could signal when investors should start taking profits.
If the current bullish sentiment persists and key support levels hold, MOODENG could see a price recovery in the coming days.
#MOODENGAnalysis , #cryptowhales , #memecoin🚀🚀🚀 , #MemeCommunity , #CryptoNewss
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
