MOODENG Skyrockets 130% as Traders Pile In—While Exceptions Vanish
Another day, another memecoin defying gravity—this time with open interest screaming higher and exchange reserves evaporating. Just when you thought crypto had run out of absurd plot twists.
Open interest surge: Futures traders are doubling down like this rally’s got a government backstop (spoiler: it doesn’t).
Exchange balance nosedive: Those paper hands are either diamond-handing or forgot their passwords—either way, supply’s getting scarce.
The cynical take: Nothing fuels FOMO like watching degenerate gamblers win—until the house collects its vig.
MOODENG price analysis
On the 4-hour USDT chart, MOODENG has broken above the upper boundary of a bull flag pattern, signaling a potential continuation of the uptrend based on classic technical analysis.
Importantly, the 50-day moving average is still holding above the 200-day, meaning the golden cross is still intact, keeping the longer-term bullish trend in play.
Momentum indicators are also lining up with the bullish outlook. The MACD lines have turned upward, hinting at growing positive momentum.
On top of that, the Relative Strength Index has surged DEEP into overbought territory, hitting 94.7. While this could signal that the rally is overheated in the short term, strong rallies in meme coins can stay overbought longer than expected.
With this setup, MOODENG could continue climbing toward its next big hurdle at the $0.20 psychological resistance level. A clean break above that could pave the way for bulls to target this year’s high of $0.31, which was last seen on Jan. 4.
As previously noted by analysts at crypto.news, historical trends suggest that once Bitcoin’s dominance approaches the 72.92% level, last seen in December 2022, investors could begin rotating capital into altcoins.
Currently, Bitcoin Dominance sits at 64.14%. If history repeats, it could result in additional momentum for memecoins like MOODENG in the coming weeks.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
