Mog Coin $MOG Price Analysis 24 July

Mog Coin ($MOG) has recently demonstrated impressive bullish behaviour, marked by a significant price surge over the past few weeks. Despite the bullish sentiment, the token's market cap has dropped by 13% in the last 24 hours, falling to $695.03 million, making it the 95th largest cryptocurrency. The coin's traded volume has also decreased by 35% in the past day, totalling $34.05 million, with a volume-to-market cap ratio of 5.0%.

Key Takeaways:

• Market Cap Decline: Despite a recent surge, Mog Coin's market cap has decreased by 13% in 24 hours.
• Volume Drop: The token’s trading volume has fallen by 35% recently, affecting its market activity.
• Technical Strength: Mog Coin has shown strong technical indicators, including a golden crossover and bullish RSI, signaling continued upward momentum.

Read More: Mog Coin Price Growth: $MOG 100X Soon?

Mog Coin Market Performance

Mog Coin’s market cap has recently dropped to $695.03 million, ranking it 95th in the cryptocurrency market. This decline contrasts with the token’s recent bullish price movement. The traded volume has also decreased by 35% to $34.05 million, with a volume/market cap ratio of 5.0%. The circulating supply stands at 360.45 trillion MOG, representing 85.68% of the maximum supply. The fully diluted market cap is $811.86 million, with a total maximum supply of 420.69 trillion MOG.

Currently, 88% of Mog Coin holders are in profit, with a significant concentration of holdings (68%) among large investors. However, only 2% of holders have kept their coins for over a year.

Read More: What is Mog Coin? The Evolution from Meme to Digital Asset

Mog Coin Derivatives Data Analysis

Source: Coinglass

The derivatives market for Mog Coin shows a long/short ratio of 0.9324, indicating a higher rate of long liquidations recently. Derivatives trading volume has surged, reflecting increased trading activity. Short liquidations amounted to $41.10K, while long liquidations were $254.03, suggesting a trend of profit-taking among long positions.

Technical Analysis of Mog Coin

Source: TradingView

On the daily chart, Mog Coin has demonstrated a series of higher highs, signifying a strong upward trend. The coin recently experienced a technical breakout, surpassing the upper boundary of a wedge pattern, supported by increased trading volume and momentum. This breakout, along with the golden crossover of the 20-day, 50-day, and 200-day exponential moving averages (EMAs), signals a robust bullish trend.

The Moving Average Convergence Divergence (MACD) indicator has moved into a bullish phase, with its signal line also in a golden crossover. The Relative Strength Index (RSI) has entered the overbought zone, indicating strong price momentum.

Read More: How to Buy Mog Coin (MOG)

Surge in Mog Coin’s Price

Mog Coin’s price has surged over 44,000% from its all-time low, showcasing strong bullish behavior. Despite a recent 13% market cap decline, technical indicators like golden crossovers and a rising RSI suggest continued upward momentum. With 88% of holders in profit, the bullish sentiment remains strong.

Support and Resistance Levels

Key support levels for Mog Coin are $0.000000690 and $0.000001140, while resistance levels are at $0.00000250 and $0.0000030. These levels are crucial for monitoring potential market reactions.

Conclusion

Mog Coin ($MOG) has shown remarkable bullish momentum, with a significant surge in price despite a recent decline in market cap and trading volume. The coin’s technical indicators suggest strong upward potential, supported by a golden crossover and a bullish RSI. Investors should monitor key support and resistance levels to gauge future market movements.

FAQs

What caused Mog Coin’s recent price surge?

Mog Coin’s price surge is attributed to strong bullish sentiment and technical indicators such as a golden crossover and rising RSI.

Why did Mog Coin’s market cap decline?

Despite the bullish price movement, Mog Coin’s market cap fell by 13% due to a decrease in trading volume and market activity.

What are the key support and resistance levels for Mog Coin?

Key support levels are $0.000000690 and $0.000001140, while resistance levels are $0.00000250 and $0.0000030.