The Moo Deng price soared over 87% in the last 24 hours to trade at $0.6322 as of 10:13 p.m. EST as investors rush to buy the meme coin.
The surge in the MOODENG price followed and announcement by leading US crypto exchange Coinbase that it has added the hippo meme coin to its listing roadmap.
Assets added to the roadmap today: Moo Deng (MOODENG)https://t.co/rRB9d3hSr2
— Coinbase Assets 🛡️ (@CoinbaseAssets) December 2, 2024
Moo Deng Price Forms A Bullish Channel
1-hour chart for MOODENG/USD (Source: GeckoTerminal)
The Moo Deng price has printed a series of higher highs and higher lows over the last few hours on the 1-hour chart, resulting in the formation of an ascending channel. If the meme coin continues its current trend, it might flip the resistance level at $0.6516 into support. Thereafter, MOODENG could have the technical foundation needed to rise to as high as $0.7992.
On the other hand, a rejection from the $0.6516 barrier in the coming few hours might mark the end of MOODENG’s rally. In this alternative scenario, the Moo Deng price could end up correcting to the $0.5003 support level. Should bears keep exerting sell pressure on the meme coin if it falls to this point, it might then plunge to as low as $0.3830 in the short term.
Bulls Are Losing Their Grip On The Moo Deng Price
From a technical perspective, it appears a bearish scenario may be more likely to play out in the next few hours. The Moving Average Convergence Divergence (MACD) indicator on the 1-hour chart warns that MOODENG’s bullish momentum is cooling off.
Recently, the MACD line has started to drop toward the MACD Signal line. Although the current orientation of the line is still bullish, the shrinking margin between them suggests a bearish crossover could soon ensue. If the MACD line crosses below the MACD Signal line, traders might see this technical even as a sign that the Moo Deng price has entered a negative trend.
Buyers also seem to have lost some of their strength in the last few hours, with Relative Strength Index (RSI) readings falling from above 80 to the low 70s during this period. While the current reading at 73 suggests ample buyer strength, it also warns that the Moo Deng price might be overbought. This could be interpreted as a sell signal by traders.
The bearish scenario might not play out if the Moo Deng price manages to break above $0.6516 in the next few hours.
As MOODENG tries to overcome the $0.06516 barrier, investors are flocking to the presale for meme coin rival Crypto All-Stars (STARS) before its presale ends.
The Ultimate Meme Coin Staking Platform Has Arrived
Crypto All-Stars (STARS) is an innovative staking project that gives meme coin lovers the opportunity to lock up a variety of tokens all in one place for attractive passive rewards.
Assets supported on the platform from launch include DOGE, SHIB, PEPECOIN, FLOKI, BRETT, MOG, LADYS, TOSHI, COQ, BONK, and TURBO. More meme coins will be added soon.
By simply locking in any of these cryptos on the Crypto All-Stars staking platform, investors will start to earn crypto rewards that are paid out in STARS. The rewards don’t stop there because STARS can also be staked for a huge 277% Annual Percentage Yield (APY).
With its meme coin appeal, innovative staking platform and the high rewards on offer, it’s easy to see why experts are bullish on STARS. Among them is popular YouTuber ClayBro, who told his more than 130K subscribers that STARS has the potential to surge 10X after its launch.
Investors FOMO Buy STARS Before Its Blockbuster ICO Ends
Crypto All-Stars has raised over $7.8 million in what is one of the top-performing ICOs of 2024. Investors now have one last chance to get in on STARS early, with just over 17 days left until the meme coin’s presale comes to an end.
To purchase STARS, investors can make use of the simple buy widget embedded on the project’s website. Selling for $0.0016648, the meme coin can be bought with either ETH, USDT, BNB, FLOCKI, SHIB, PEPE, DOGE or bank card.
Once purchased, investors can then navigate to the staking page on the website and lock up their tokens for the 277% APY currently on offer.
Purchase and stake STARS here before its presale ends.
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