The price of Moodeng, which has increased by more than 800% in the last one month, declined by more than 20% within 1 hour. According to Coin Marketplace Cap, Moodeng, trading at $ 0.33, suddenly came to $ 0.25.
Why Moodeng’s value has been increasing for some time
Moodeng Worth has seen an increase of more than 800% in the last one month. This increase started due to positive whale motion, liquidation of short positions and community support and later Moodeng’s list on binance alpha Gave it a new Momentum. As a result, Moodeng maintained its high growth rate even during the time of slow market growth.
What next
Despite this sudden decline, its trading volume has increased by 30% compared to the last 24 hours till the news is written, with this decline is not much larger than the previous performance of this token. Moodeng’s All Moment Top has been $ 0.69, compared to which its value is still less than half. Instead of being associated with a utility feature or project, Moodeng is a completely dependent on community support, which is still with him due to Moodeng’s previous successes.
However, after this decline, its market cap has come down to $ 250 million from a $ 300 million psychological figure to $ 250 million, which may be a reason for concern for Moodeng Investors and Community. Such incidents Memecoin Can be very deadly for and can trigger bear moment. In such a situation, the strategy of weight and watch is the best option for investor.
What is moodeng
It is a Memecoin inspired by a Pigmi Hippo. For some time, this Pigmi Hippo Meme is viral on social media. This virality brought Moodeng to the tongue of almost all the people associated with the Cryptovorld. This coin is made from the help of pump.amusing platform and works on Solana Blockchain. Its total supply is around 990 million tokens.
Conclusion
This decline in Moodeng can stop the long bull run in this token. However, the market sentiments are still positive about this token and community support still remains. After an 800% gains, the small decline is seen as a currency. In such a situation, weight and watch becomes the best option for investors.
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