Mog Coin’s Price Movement Indicates a Steady Downtrend
In the previous week, Mog Coin (MOG) has experienced a consistent decrease in price. On August 30, the coin was currently worth $0.0000000579, and it has since dropped to its current level of $0.000000029.
Within the previous day, MOG has seen a 12% fall in value, contributing to a total decline of 49% in the previous week.
Nonetheless, when observing the 30-day chart, a different pattern emerges. In mid-August, MOG experienced a steady rally that led to higher trading prices.
On August 18, amidst a market collapse, MOG reached an record-breaking peak of $0.000000109. Ever since, it has dropped by 73% from that peak.
Is MOG’s Decline Indicative of a Trend Reversal?
MOG’s recent decline has been marked by the formation of lower lows. Regardless of this, traders continue to show interest, as trading volumes have increased by 19% in the previous day, reaching around $847,000.
If the bearish momentum continues, it is important to monitor a critical resistance level at $0.0000000214. Sliding below this level may result in MOG dropping below $0.00000001.
The Moving Average Intersection Divergence (MACD) confirms the presence of a bearish trend. In addition, the Relative Strength Index (RSI) at 34 indicates selling activity and predicts the to continue of bearish momentum.
Mog Coin Gains Celebrity Endorsements
The growing presence of celebrity endorsements on Twitter is benefiting Mog Coin and contributing to its community’s growth.
Schizoloid Transmission System v.3, a Twitter user, has endorsed the unique qualities of MOG. They highlighted the project’s efforts to cultivate a large community and strengthen cultural engagement.
The Probable of $MOG: The Growing Star
— INC. (@postretardism) August 5, 2023
The endorsement likewise highlighted MOG’s extensive market presence, resulting in a market cap of approximately $12 Million before being listed on major exchanges. This rapid growth showcases the community’s dedication to fostering MOG’s expansion.
Another Twitter user emphasized that MOG quickly gained a cult-like following shortly after its launch, making it one of the Meme Coin coins to watch. The user believes MOG has the capacity to unite the Web 3.0 industry.
How often does a memecoin come along that has cult following, becomes a new word in the lexicon, has the probable to unite the entire nft space, has instagram/tiktok virility built-in, gives the community endless content generation with ease and is relatable to normies? In 3… pic.twitter.com/8XVB8gBnRv
— brah (@lohohoski) September 2, 2023
Mog Coin’s presence in the cryptocurrency industry is expanding. On August 23, the MOG team announced the token’s listing on Open Exchange. MOG perpetual futures are now available on the exchange.
This Is Just The Beginning 🐂🎯 https://t.co/dYMPux2NgR
— the ticker is MOG (@MogCoinEth) August 23, 2023
Less Than Three Weeks Remaining for Wall Street Memes Presale
The Wall Street Memes (WSM) presale is approaching its end, with only 20 days remaining. Consequently far, the presale has raised over $25 million.
During the presale, 1 WSM token is currently worth $0.0337. The group has already secured listings on plenty of tier 1 exchanges once the presale concludes, potentially leading to a price rally.
The Wall Street Memes project originates from the Wall Street Bets community, where retail traders triumphed over Wall Street giants. WSM intends to tokenize this movement and empower the community throughout the process.
Hot Take: MOG’s Decline Requires Careful Monitoring
As MOG experiences a downward trend, it is critical for traders to listen up to its value movements. The recent endorsements and growing presence in the cryptocurrency industry offer probable for future growth. Nonetheless, the bearish momentum and technical indicators suggest caution. Keep an eye on critical resistance levels and market sentiment to make notified decisions.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.