The Moo Deng (Moodeng) token traders and analysts have once again been engaged in the Crypto market. This small cap token has shown a rise of about 23.76% in the last 24 hours and is currently trading at $ 0.1305 until the news is written. With this, its market cap has reached $ 129.2 million. But the most shocking thing is its 24 -hour trading volume, which has risen 142.72% to $ 779.64 million.
Major causes behind speed
Let’s know what is the reason behind this fast and what are the possibilities in the coming time.
1. Shopping of whales simultaneously
According to cryptoquant, Mooo deng crypto This fast began when some big wallets bought a large amount of Moodeng Token together. This Centralized Boying sent a bullish signal to the market.
2. viral on social media
Suddenly there was a huge discussion about Mooo Deng on platforms like X (East Twitter) and Telegram. Many influential crypto influencers and community channels described this token as a “next big chance”, which attracted more users by the FOMO (Working Out).
3. Liquidation of short position
Rapid rising prices damaged traders who shorten when Moodeng fell. As prices went up, short positions became liquidate and produced even more volatility, leading to the price further.
Moodeng’s current status
-
Price: $ 0.1305
-
24 -hour growth: +23.76%
-
Market Cap: $ 129.2 million
-
Trading Volume: $ 779.64 million (+142.72%)
Such fast volume growth indicates that a large amount of tokens are trading and currently investors are showing interest in it. If you also have interest in it and you want to know that Where to buy Mooo Deng Coin So you can get information by visiting this link.
Can this rally continue even further?
The most important role in Moodeng’s current rally has been social sentiments and trading psychology. Such small-cap tokens often sustain a sudden rise and can also decline as fast as it. Therefore, investors should: they:
-
Keep an eye on social media trends
-
Track trading volume and market depth
-
Trade with a stop-loss in short term
If the social hyp remains and the whales continue to support, the moodeng can also go above $ 0.15, but it is necessary to vigilance keeping in mind the volatility.
Conclusion
Moo Deng Token has once again proved that anything can happen in crypto anytime. The purchase of big wallets, craze and short position liquidation on social media, together made this small-cap token a hero in a day. Although this can be a golden opportunity for the current fast traders, it is also necessary to understand its tokenomics, team and the vision of the project well before the long term investment.
Also read:Shock to Trump, StableCoin Rules stuck in US Senate
