There’s one token outperforming other top meme coins – it’s MOG.
This coin pumped over 130% in the last 30 days, bringing its market cap to around $750 million at press time.
MOG is now the #8 meme coin by market cap globally, having flipped BOME during this recent run.
Following Trump’s shooting 2 days ago, MOG’s team even joked on Twitter “Made America MOG Again” with Donald’s picture.
Make America Mog AgainMAMA pic.twitter.com/1QUwmTgHls
— MOG COIN (@MogCoinEth) July 13, 2024
MOG Price Reaches All-Time High
MOG is now at its all-time high (ATH) area. Generally, I’m cautious about analyzing meme coins at ATH. This is primarily because it means many investors, especially early ones, are in profit. At some point, profit-taking will likely start, potentially putting significant pressure on the price.
From a technical standpoint, we can see that the Relative Strength Index (RSI) is 66 on the daily chart. This indicates MOG is approaching the overbought area.
In fact, over the last 6 hours, MOG’s price has actually dropped by 3.5%, suggesting some traders have already started taking profits.
Read also: Analyst Predicts Solana (SOL) Price to hit $1000 – Here’s When
Whale Activity
On the flip side, the overall market sentiment remains positive. This could potentially indicate that MOG’s rally isn’t over yet.
A quick scan of Twitter shows that not many analysts are posting about MOG. However, crypto influencer “Wise Advice” shared some interesting insights.
$MOG, an Ethereum-based memecoin, made a New ATH today It also become the Top 100 tokens by market cap. Whales are accumulating MOG tokens, and this could be the reason behind this pump. Someone withdrew 528.9B #MOG ($1.1M) from #Bybit today. Another wallet… pic.twitter.com/DQHT6MAqOa
— Wise Advice (@wiseadvicesumit) July 15, 2024
He noted that MOG became a top100 coin per market cap after the recent pump.
This surge might be attributed to increased whale activity. There was a big withdrawal of 528.9 billion MOG (valued at approximately $1.1 million) from the Bybit exchange.
Additionally, another large transaction; a wallet address used 709,884 USDC to buy 284.2 billion MOG tokens. These high-volume transactions suggest that larger investors, often referred to as “whales” in crypto parlance, are taking positions in MOG.
That being said, timing is crucial with meme coins. If you still haven’t invested in MOG, you might want to wait for a correction and find a better entry point.
Captain just hit his first 100x among a lot 2-5xs. Want to be a part of a profitable community?Get all our future calls by joining our FREE Telegram group.
Check $RECQ Meme Coin Sponsored: Invest Responsibly, Do Your Own Research. Buy RECQ Today Serves as the base currency for all transactions within the Rebel Satoshi platform ICO stage, offering tokens at a discounted price Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions. Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade, Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.
The post MOG Meme Coin Price Explodes 150% Within a Month, But Here’s the Catch appeared first on CaptainAltcoin.