The post Top 2 Memecoin To Watch When Market Is Down Today appeared first on Coinpedia Fintech News
The last 24 hours have been a cooling period for the crypto market, this comes after adding more than $300 billion to the total marketcap in the previous 10 days. Bitcoin price makes a smart move by nit declining after the surge but moving sideways.
Memecoins took control on Monday and Tuesday and relayed Wednesday and Thursday to altcoins.
The meme season is still on the run and this could be the best time to take a position as the meme coin control cycle is bound to repeat in the next few days.
MOG coin
Mog coin is an Ethereum-based stand-out performer memecoin with over 12000% surge since its release in July 2023. The crypto breached its all-time high 2 days ago and has been breaking its all-time highs consistently.
Despite its high price, the MOG experience continues to accumulate.
Currently trading at $0.000001964 with 7-day growth of 10% and 158% in 30 days, though the coin declined 7.4% in 24 hours but moved above all the moving averages.
In a recent metric review of Smart money wallets, MOG became the most accumulated token yesterday, and PEPE stands second.
The MOG/USDT 4 hr chart anticipates a rebound surge into an upward channel. Applied MACD is declining towards the middle line, more corrections may take place.
Additionally, the Alligator indicator that shows the movement of the trend reveals the lines are crossing each other, which means the price is in the resorting phase now. Once the lines travel apart, the reversal can be seen.
As MOG is one among the smart money wallets, this coin gains the potential to make more highs in the next cycles.
Traders must keep a close watch on MOG Price movement and smart money changes as this insight could signal great market trends and opportunities.
PEPE
The 3rd Largest meme coin by marketcap PEPE has been the most actively traded meme coin of this cycle with over 25% surge in the last 7 days.
PEPE price had a drop to $0.00000767 on July 5, and managed to pull back 57% up to the current price of $0.00001167. Interestingly, the PEPE volume on Thursday hit $1.2 Billion, surpassing DOGE at $730 million and Shba Inu at $810 million.
The Open interest data increased to $ 148 million, the highest since June 7, primarily on Bitget and OKX exchanges. This is a good indication of traders interested in buying the asset.
Notably a good number of whale activity was seen on Thursday, one whale bought 1.39 trillion Pepe tokens and another whale acquired 44.9 billion and 28.3 billion respectively.
PEPE is also a runner-up in the smart money wallet accumulation list, after MOG.
In the PEPE/USDT Chart, we can see the RSI in the neutral zone with more room for correction and pullback power.
The Ichimoku cloud indicator shows the price above the clouds and trend lines align with the price. Usually, the price being above the clouds is seen as the trend remains in the bullish zone.
Traders must include PEPE in the close watchlist, as this coin is been making the highest activity in the wallets with mixed social sentiments.
