The Sudeng price has surged 84% over the past week after climbing another 3% in the last 24 hours to trade at $0.0158 as of 3 a.m. EST on trading volume that slumped 9% to $39 million.
The new fan-created meme coin was inspired by pygmy hippo Mu Deng, which became an overnight online sensation and a meme. Before long, it became the “cutest $HIPPO on SUI.”
Apart from that, the project also attracted attention due to its decision to donate a percentage of its profits to wildlife needs around the world, starting with support for the Thailand-based Khao Kheow Open Zoo, where Moo Deng lives.
Sudeng Price Prediction
The last day has brought strong fluctuations to the HIPPO price, seeing it go from $0.0145 to $0.0165, with even more fluctuations in between. However, the token is currently once again seeing its price go down, and will likely drop a bit more before it bounces back up.
Sudeng’s Bollinger bands remain wide, which is still a positive thing, but right now, its price is pushing the lower band deeper down, which is a bearish signal. The price did not stick around in the middle area between the two bands for long in the last two days, suggesting that bulls and bears have been active, but rarely matched.
On the other hand, it seems that the project’s Relative Strength Index (RSI) value may be the main metric that many traders use, as the HIPPO price usually sees sharp turns when the RSI reaches key areas.
For example, its arrival to the oversold zone about six hours ago caused the bulls to move in to buy the dip, which was responsible for the latest price surge that took the token up to $0.0165. But, as soon as HIPPO’s RSI reached the overbought zone at 70, the market sentiment turned, and traders started selling.
Right now, the RSI has dropped just before the truly neutral value of 50, fluctuating between this level and the value of 40 just underneath. This shows that the bearish sentiment might be weakening, but the bulls are not strong enough yet to push the token back up.
If the previous pattern holds, the bears might push HIPPO further down in due time, but if the bullish trend takes over the wider market, this might disrupt Sudeng’s pattern and result in potentially unexpected price shifts.
