- MOODENG surged 112% in a day, driven by a volume spike and a technical breakout.
- However, fading momentum and large whale sell orders suggest the rally could soon face resistance.
In a surprising twist, memecoin MOODENG [MOODENG] posted a dramatic 112% surge in under 24 hours, driven by an explosive 387% increase in trading volume. But with key indicators flashing mixed signals, traders are now asking: is this just the beginning—or the start of the end?
The price jump was fueled by a classic two-day Bollinger Band (BB) squeeze, a technical pattern often preceding large breakouts. The squeeze sent MOODENG from its base at $0.21678 to a high of $0.26249, approaching resistance near $0.29834 before entering a consolidation phase.
Also read: PEPE Whales Bet Big: Is a 38% Rally on the Horizon?
However, the momentum may be short-lived.
Despite an initial bullish crossover in the MACD, the histogram slipped into negative territory at -0.00020, hinting at fading buying strength. Further signs of weakness emerged as the MACD line dropped below the signal line—suggesting a potential slowdown in the uptrend.
Adding to the intrigue, a known whale strategically placed large sell limit orders: 2 million MOODENG tokens at $0.565 ($543K) and another 1.1 million at $1.11 ($298K). These sell targets remain far above the current price, indicating the whale is banking on a continued rally—but not without risk.
Should MOODENG maintain support above $0.26249, a push toward $0.29834 or even $0.35 remains on the table. But a failure to hold could trigger a fallback to $0.21678—or worse, down to $0.169. The $0.11232 level, however, still serves as a robust long-term support.
Ultimately, the fate of this memecoin rally hinges on whether retail enthusiasm can overpower looming sell orders. If traders hold strong, MOODENG may yet test the whale’s lofty targets. If not, the recent surge could quickly turn into a cautionary tale of hype versus reality.
MOODENG’s massive breakout has sparked excitement—but with signals of slowing momentum and heavy sell pressure ahead, traders should brace for volatility.