MOODENG Price Rockets 26% Amid Major Listing, Rally To Continue?

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As a seasoned crypto investor with a knack for spotting promising opportunities, I must admit that the recent surge of Moo Deng (MOODENG) has caught my attention. Having witnessed the meteoric rise and fall of various altcoins throughout my investing journey, I’ve learned to be cautiously optimistic about such situations.

Solana meme coin Moo Deng (MOODENG) price witnessed a remarkable 20% uptick in value on Friday, sparking market optimism against the backdrop of a major listing for the crypto. Notably, leading Asian crypto exchange OKX announced that it is adding the meme coin to its stockpile of trade offerings, generating investor curiosity globally. Crypto market enthusiasts speculate whether the listing could help the token sustain a rally amid a bullish market, especially within the meme coin sector.

OKX Unveils Listing For Moo Deng Sparking Investor Frenzy

Today at 12:00 PM (UTC), as stated in a recent announcement by the Asian crypto exchange, Moodeng/USDT spot trading will begin on their platform. This massive user base is eagerly awaiting the opportunity to trade Moo Deng, which could potentially lead to increased investment in the token.

Meanwhile, the cryptocurrency is riding on strong upward trends throughout the market, fueled by a craze surrounding meme coins. Interestingly, the fourth quarter of this year has seen an exceptionally bullish market for meme coins, with tokens like Dogecoin and Shiba Inu recording gains of more than 90% and 25% respectively on a weekly basis.

However, MOODENG price rally appears to have stolen the spotlight amid backing from major crypto exchanges despite other tokens mirroring notable gains. CoinGape Media recently reported that Binance launched Moo Deng futures listing with up to 75x leverage, igniting a price surge of 90% in the meme coin. Overall, market watchers continue to gauge the coin’s price movements as OKX’s support could further bolster the price.

MOODENG Price Soars 26%, Will Rally Sustain?

Currently, the price of MOODENG has jumped 26% during today’s trading and is being exchanged at $0.573. Earlier today, the coin reached a low of $0.3979 and a high of $0.5788. However, there hasn’t been a significant increase in its trading volume, as the exchange will officially begin operations later on today. Despite this, investors remain hopeful about the future moves of the token, given that it has already experienced a surge during the ongoing bull market.

Over the past week, the price of the Solana meme coin increased by a whopping 103%. Looking at the monthly graph, this surge represents an impressive 538% rise. This consistent upward trend suggests that the token could potentially deliver significant returns for investors in the near future.

Simultaneously, data from Coinglass revealed a significant increase in the coin’s futures Open Interest (OI), which reached $293.14 million, an uptick of 26%. Additionally, the derivatives trading volume surged by 10% to reach a staggering $2.60 billion. Collectively, these figures suggest a growing market fascination with the asset, potentially setting the stage for optimistic price trends ahead.

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2024-11-15 13:39