Moo Deng (MOODENG), the meme coin named after the viral hippo baby sensation, has jumped by 30% in the last 24 hours. This surprising move occurred during a period when several cryptocurrency prices crashed amid heightened volatility.
On October 1, market optimism quickly turned sour due to geopolitical tensions, including missile attacks, triggering panic and sell-offs. As a result, liquidations surpassed $500 million within the last day, with Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) experiencing significant price drops. However, Moo Deng, which recently trended, defied this chaos.
In the last 24 hours, MOODENG’s price increased to $0.24, correlating with a surge in trading volume. According to Santiment, Moo Deng’s volume exceeded $200 million, reflecting rising investor interest.
Additionally, Moo Deng's social dominance—a measure of discussions around a cryptocurrency—has notably increased, indicating that market attention is shifting towards this meme coin during turbulent times.
Currently priced at $0.25, MOODENG initially hit $0.18 on October 1. Technical analysis shows a rebound after the Relative Strength Index (RSI) broke out of resistance. If this momentum continues, the meme coin could reach $0.28 short term and climb towards $0.35.
Traders should remain cautious. If some MOODENG holders decide to take profits, the bullish forecast could be invalidated, potentially leading to a price drop to $0.19.
