The Moo Deng price has pumped 39% in the last 24 hours to trade at $0.08638 as of 7:15 a.m. EST on a 57% surge in trading volume to $48.5 million.
Pygmy hippo Moo Deng has captured hearts around the world from her home in a Thailand zoo, becoming an internet sensation.
Inspired by her, the Solana-based meme coin Moo Deng (MOODENG) was launched on the Pump.fun platform and has soared to a $70 million market cap in just two weeks.
Moo Deng Price Forms A Bullish Pennant Within A Bullish Channel
The MOODENG/USD pair in the 15-minute time frame is in a clear bullish trend. The price is currently at $0.08935, marking a 3.26% increase in the session. The price action is contained within a well-defined ascending channel, indicating a strong uptrend.
The price is trading near the upper boundary of the channel, and the upward arrow suggests the potential for a breakout to the upside, signalling further gains in the near term.
MOODENDUSD Analysis Source: Dextools.io
The 50-period simple moving average (SMA) is currently at $0.0863, which supports the price well above this level. The 200-period SMA, which sits at $0.0641, is also far below the current price, reinforcing the long-term bullish sentiment. The wide gap between the 50 and 200 SMA further supports this positive sentiment.
The Moving Average Convergence Divergence (MACD) indicator shows the MACD line (blue) slightly below the signal line (orange) but close to a potential bullish crossover. If this crossover happens, it would confirm a buying signal, reinforcing the upward momentum.
Additionally, the Relative Strength Index (RSI) stands at 51.90, which is neutral. This indicates no overbought or oversold conditions for the Moo Deng price. This means the price has room to move higher before becoming overbought, allowing for more upside potential.
Key support levels lie around the 50 SMA at $0.0863 and the lower boundary of the ascending channel. Resistance is currently being tested at the upper boundary of the bullish channel, and a breakout above this level would likely lead to further gains.
