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The Moo Deng worth plummeted greater than 19% within the final 24 hours to commerce at $0.5159 as of 10:18 p.m. EST as buyers dump their holdings within the meme coin available on the market.
This latest drop within the MOODENG worth comes after the crypto surged within the final 7 days. Whereas some merchants opted to understand their income, the meme coin continues to be 46% within the inexperienced on the weekly timeframe.
Moo Deng Worth Resting On A Very important Assist
1-hour chart for MOODENG/USD (Supply: GeckoTerminal)
The Moo Deng worth fell out of a short-term ascending channel within the final 24 hours, in keeping with GeckoTerminal knowledge. Afterwards, the meme coin printed a collection of decrease lows and decrease highs on the 1-hour chart, ensuing within the formation of a bearish worth channel. Now, MOODENG is resting on the important thing help degree at $0.5006.
Ought to the Moo Deng worth lose the help of the $0.5006 mark, it might proceed to commerce within the newly-formed descending channel and probably plunge to as little as $0.3840. Nonetheless, MOODENG sustaining a place above $0.5006 for the following 6 hours may forestall the bearish transfer from happening.
In another situation, the Moo Deng worth may attempt to escape the present descending worth channel and try a problem on the $0.6531 resistance. Overcoming this technical impediment might give the meme coin the house wanted to presumably rise to the next resistance at $0.7966.
Moo Deng Worth Technicals Recommend The Meme Coin’s Drop Is Not Over But
Taking a look at technical indicators on MOODENG’s 1-hour chart, it appears bears at the moment have management of the meme coin’s worth. Exponential Shifting Averages (EMAs) recommend there was a bearish shift in momentum in the previous couple of hours. That is evident by the 9 EMA’s positioning under the 20 EMA after the 2 strains crossed within the final 24 hours.
Sellers additionally lately overpowered consumers, which is obvious by the Relative Energy Index (RSI) dropping under the 50 benchmark. With the damaging slope of the RSI line, it appears bears are nonetheless rising stronger towards bulls. If bears select to capitalize on their present higher hand, they may push the Moo Deng worth even decrease by way of the course of the following buying and selling day.
Whereas MOODENG stays on the mercy of sellers, buyers are flocking to purchase meme coin rival Crypto All-Stars (STARS) for potential parabolic positive aspects earlier than it’s too late.
Providing Meme Coin Lovers An Revolutionary Multi-Coin Staking Answer
Crypto All-Stars (STARS) is a brand new challenge seeking to make a reputation for itself within the flourishing meme coin house. To attain this, Crypto All-Stars gives meme coin lovers an revolutionary staking resolution that comes with help for a variety of standard cash.
The record of supported meme cash contains DOGE, SHIB, PEPECOIN, FLOKI, BRETT, MOG, LADYS, TOSHI, COQ, BONK, and TURBO. The staff can even add extra choices within the coming months.
By merely staking any of those tokens, meme coin buyers will begin to earn passive crypto rewards which are paid out in STARS. These STARS tokens might be staked as properly, with the challenge providing an enormous 265% APY to anybody who locks up STARS now.
WIth the present meme coin hype and subsequent rally in costs, buyers will doubtless flip to Crypto All-Stars to develop their luggage with out having to depend on speculative buying and selling. What’s extra, the multi-coin help signifies that buyers can put their holdings in a number of meme cash to work concurrently and all on one platform to earn STARS.
Standard YouTuber ClayBro advised his greater than 130K subscribers that STARS might surge 10X after launching.
Traders Rush To Purchase STARS Earlier than Its Presale Ends
Crypto All-Stars has raised over $8.2 million by way of its presale to date. The shopping for frenzy is prone to proceed because the challenge’s ICO enters its closing stage. With simply over 16 days left, time is operating out for buyers to get in early on STARS.
To amass the token earlier than its highly-anticipated launch and the potential 10X surge predicted by specialists like ClayBro, buyers could make use of the easy purchase widget embedded on the challenge’s web site.
Promoting for $0.0016715, STARS might be purchased with both ETH, USDT, BNB, FLOKI, SHIB, PEPE, DOGE or financial institution card. As soon as bought, the STARS tokens can then be locked up through the staking web page on the web site for the 265% annual return.
Buy and stake STARS right here for the 265% APY earlier than its presale ends.
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