In the past 24 hours, the price of Moo Deng (MOODENG) has seen a significant increase fueled by news of its listing on Upbit.
Reasons for the Price Increase of MOODENG
Currently, Moo Deng is priced at $0.2010, reflecting a 44.11% daily increase. One of the primary factors behind this surge is its listing on Upbit, a leading exchange in South Korea. The listing includes pairs with KRW, BTC, and USDT, starting at 17:00 KST. Note: The exchange warns about verifying the Solana network for deposits.
Price Dynamics of Moo Deng
After the news of the listing, the price of MOODENG surged more than 32%, and its market capitalization grew from $165 million to over $200 million, although it has since dipped below that mark. Previously, the token was listed on Binance, which also helped it strengthen its market presence.
Technical Analysis and Support Levels
Current technical analysis indicates that Moo Deng is forming a bullish 'cup and handle' pattern. Support levels are identified around $0.13 and $0.17, while immediate resistance is near $0.26 and then $0.33. A breakout above resistance with strong volume might see Moo Deng reaching the psychological target of $0.50, followed by a potential attempt at $1.
The price of Moo Deng continues to exhibit typical volatility for meme coins, and growing trader interest is evident. The future price movements will depend on maintaining buying pressure and the broader market reaction.
