Can MOODENG’s leveraged 16% pump break past $0.06?
The memecoin MOODENG surged over 16% in 24 hours, significantly outperforming the broader memecoin market. The rally was primarily driven by leveraged futures trading, particularly on Binance Futures, where it was the top gainer. Liquidation data and increased activity on DEXs like Raydium, which saw a 2,005% volume spike, supported this. Despite high momentum and bullish sentiment, the price faced resistance near $0.0558, with technical indicators suggesting a potential pullback to $0.04757. The leverage-fueled pump is considered unsustainable, as funding rates flipped negative, indicating profit-taking. For a sustained rally, increased spot trader participation is needed.
ambcrypto02/14 00:01
