The Moo Deng price soared more than 11% in the last 24 hours to trade at $0.1654 as of 7:22 a.m. EST as investors rush to buy the meme coin.
With the recent surge in the MOODENG price, the crypto has skyrocketed more than 377% over the past 30 days.
The Moo Deng Price Approaching A Major Resistance
4-hour chart for MOODENG/USD (Source: GeckoTerminal)
A positive trend line has emerged on the 4-hour chart for Moo Deng, with the meme coin now attempting to flip the resistance level at $0.2290 into support. Should the crypto clear this technical barrier, it could have the foundation needed to keep climbing through the course of the next trading day. MOODENG might subsequently climb to as high as $0.3785 in the short term.
On the other hand, the Moo Deng price failing to break above the $0.2290 obstacle within the next 24 hours could prevent a bullish move from happening. In this alternative case, traders might end up panicking and potentially dump their holdings in the meme coin. MOODENG could then fall to the immediate support level at $0.0723.
The Moo Deng Price Starting To Lose Some Of Its Bullish Strength
Technicals suggest buyers seem to have the upper hand against sellers, but are slowly starting to lose their grip on the meme coinâs price. The Relative Strength Index (RSI) line is positively sloped above the 50 benchmark, which suggests buyers are currently stronger than sellers.
Meanwhile, the Moving Average Convergence Divergence (MACD) line is positioned above the MACD Signal line to indicate that the Moo Deng price is in a positive trend. However, the gap between these two technical indicators is starting to shrink, which could be a very early sign of the meme coinâs bullish cycle coming to an end.
As MOODENG tries to keep its bullish momentum alive, layer-2 meme coin rival Pepe Unchained (PEPU) continues to pull investors in at a rapid pace with its ongoing ICO.
A Meme Coin With Unprecedented Levels Of Utility
Unlike the meme coins that came before it, Pepe Unchained (PEPU) will not rely solely on community hype to gain traction in the crypto market. Instead, the project comes with levels of utility on par with that of Ethereum, Solana and other major blockchain projects.
Through its native layer-2 network, Pepe Unchained aims to move the booming meme coin sector into a more scalable era. By taking over the transaction processing workload of the meme coin space from networks like Ethereum, Solana and the TON chain, Pepe Unchained grants backers of these tokens access to much faster transaction speeds and much lower fees.
Popular meme coin PEPE will be the first crypto that the project will attempt to scale. Thereafter, Pepe Unchained will open up its computational resources to the rest of the meme coin sector.
In addition to its layer-2 capabilities, the project will also welcome several decentralized applications (dApps) to its ecosystem soon following the launch of Pepe Unchainedâs developer grant program.Â
With all of this upcoming utility and its appeal to meme coin investors, itâs easy to see why analysts and experts are bullish on PEPU.
In a video to his 275K subscribers, popular YouTuber Austin Hilton shared that he recently doubled his $10K investment in the crypto.
A Booming ICO
Pepe Unchained has raised more than $18.3 million through its ongoing presale. This raise follows multiple purchases by crypto whales in the last 24 hours, with the biggest buy valued at $50K. The other two orders saw investors buy $16K and $15K worth of PEPU.
Anyone that wants to get in on the meme coin at this early stage before investors scoop up all of the remaining PEPU can do so using the simple buy widget embedded on Pepe Unchainedâs website.
The frog with the golden brain gearing up for L2 launch.
Join our official telegram to hang with the community!https://t.co/ahmb9L28KX pic.twitter.com/8hJQ7IuvJh
â Pepe Unchained (@pepe_unchained) October 5, 2024
Currently selling for $0.00995, PEPU can be bought with either ETH, USDT, BNB or bank card. Potential buyers that want to lock in the best rate will want to act fast, because PEPUâs price is set to increase as the projectâs ICO progresses. The next price hike will happen within less than 2 days.
Once purchased, investors can immediately put their newly-acquired PEPU tokens to work. There is a 119% Annual Percentage Yield currently on offer to anyone who buys and stakes the meme coin now.
Purchase PEPU here.
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