The memecoin- MOG Coin registered a new ATH at $0.000002454 on July 21st, 2024. As of writing, the price has bounced back from the 50-day EMA after a pullback.
Nearly 360 Trillion MOG Coin (approximately. 85.68%) were circulating out of the total supply of almost 420 Trillion MOG. As per the rich list, the adoption among userbase has increased, as growth in holders was consistently higher at 27590 holders.
The number 1 holder’s address held 7.71% of the supply and aced the list of the top 100. Meanwhile, the top 10 held 24.92%, and the top 100 held 65.27% of the overall circulation.
MOG ranked 93rd among the top global cryptos in terms of market cap ($742.351 Million) on CoinMarketCap. The market cap surged 7.12% intraday amid the price rise.
Over major trading platforms, it had a spot volume inflow of $46.44 Million in the past 24 hours, which rose by a sharp 74.36%.
Based on its 24-hour volume-to-market cap ratio in meme-MOG, its liquidity ratio was moderate at 6.29% at press time.
Reading MOG Coin Derivatives Data, Analyst Insights
Looking at its derivatives stats as per Coinglass, MOG witnessed a humongous surge in OI. This is because 246.10% more contracts were opened in the market, totaling $82.02K OIs. Likewise, the derivatives volume saw a 62.41% rise to $708.38K.
Analyst @Crypto Tony stated that he looks to step in once a certain level gets cleared and sustained (DYOR). Simultaneously, the price action of MOG seems optimistic to many others on social media as well.
MOG Price Structure Analysis
Mog coin (MOG) experienced a significant rise after a consolidation phase ending mid-February 2024.
The daily time frame chart showed significant price structure activity within an upward parallel channel, resulting in momentum-led performance.
On March 7th, 2024, MOG-meme first touched the channel’s upper boundary. After a decline, the price reached the lower side of the channel by April 13th.
Between April 13th and May 13th, 2024, its price consolidated and rebounded to the channel’s upper boundary by May 29th, 2024.
Following this, MOG hit an all-time high (ATH) for the second time. However, due to the instability that followed, it plummeted to the channel’s lower boundary by June 18th.
On June 18th, MOG surged again, adhering to the wedge pattern. It reached the channel’s upper boundary, marking its third ATH on July 1st, 2024.
However, this third peak deflected its price again. This caused the price to pull back to the resistance-turned-support level at $0.000001250 (the first peak).
The price surged 110%, marking the 4th peak at $0.000002454 by July 21st, 2024. Recently, the price made another pullback to second peak resistance, turned support at $0.000001600, and approached the wedge upper border again.
Once its price gets through the upper border, a new ATH, a fifth one, could take place. The indicators reflected the bullish needle.
As EMAs back the price, the MACD anticipated a bullish cross, where histogram at negative 0.00000003201. The RSI flashed at 58.32 and headed for overbought.
Therefore, the resistance lies at $0.000002454 and $0.000003000 (round number). On the contrary, if the upper border deflects the price, the support would be at $0.000001600 and $0.000001300, respectively.
 showed massive advancement in open interest in derivatives, and the price appears bullish. Let’s delve to find more insights.){kind=link}