Markets
Mog Coin Sets New All-time High and Briefly Breaks into Top 100
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3 months agoon
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Ethereum meme coin Mog Coin (MOG) has climbed 4% today, reaching a new all-time high of $0.00000245. The token was even briefly in the top 100 coins on CoinGecko, but has since dropped out.
MOG was created almost exactly a year ago, on July 19, 2023, and shares its name with a term that’s been popular on English-language message board site 4chan.
To ‘mog’ someone is to display your dominance over another person. This can come in many forms such as heightmogging (to be taller than someone), fashionmogging (being more stylish than the moggee), or a brutal mogging (dominating someone in multiple categories).
So in many ways, the crypto token has been “mogging” its meme coin rivals since its inception. Over the past three months, MOG has skyrocketed 301% and has now reached a market cap of $820 million according to CoinGecko.
This puts MOG ahead of tokens like layer-1 blockchain Tezos (XTZ), gaming network Ronin (RON), and metaverse game The Sandbox (SAND). That also makes Mog Coin the ninth largest meme coin by market capitalization, according to CoinGecko.
At the time of writing, MOG is $5 million behind Etheruem-inspired network NEO. If it can close that gap, it stands a chance of breaking back into the top 100 crypto tokens.
When Mog Coin reached its all-time high market cap of $880 million, it had skipped past NEO which was at $850 million. But it has since lost its lead and both tokens have fallen. Currently, NEO sits at a market cap of $825 million.
Mog Coin evolved on the 4chan meme to be associated with a character, Joycat. Joycat has since become the token’s symbol. A laughing cat donning pit viper glasses, pointing at the screen soon became synonymous with the coin. Now, investors mimic Joychat through a combination of emojis or choose to don pit vipers in real life.
“This was the kind of mutation necessary to propagate the meme into hyper communication and now here we are,” a pseudonymous early MOG investor said on Twitter. “It has actually been quite a treat to watch it all unfold in real time. How a meme can merely go from a verb that describes dominance that the brain has to search for within an image/context, to something that is instantly recognizable.”
Edited by Stacy Elliott.
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cryptocurrency
Top cryptocurrencies to watch this week
Published
2 hours agoon
October 6, 2024By
adminThe global crypto market cap ended last week with a 7% drop, losing $160 billion as it closed at $2.15 trillion.
While Bitcoin (BTC) influenced the broader market, several altcoins charted their own paths, benefiting from unique developments within their ecosystems.
Here are some of these cryptocurrencies to keep an eye on this week, following their diverse price movements last week:
HMSTR collapses 18%
Hamster Kombat (HMSTR) saw a bearish week, dropping 18% to $0.004714. Its worst day came on Oct. 1 when it fell 13.94% amid a broader market decline on the back of geopolitical tensions.
Last week’s bearishness built on a downtrend HMSTR has faced since its airdrop on Sept. 26. However, the four-hour chart shows some signs of recovery, with the RSI sloping upward, now at 42.82.
For the DMI, the +DI is steady at 17.46, signaling slight buyer momentum. However, the -DI at 23.07 slopes downward, indicating weakening selling pressure. The ADX is at 22.68 and trending downward, as the current trend loses strength.
These figures suggest a possible recovery if buying momentum continues, with bulls possibly targeting $0.0051. However, the downtrend may persist if buyers do not pick up pace this week.
SUI demonstrates resilience
Sui (SUI) showed resilience despite broader market volatility, dropping only 0.3%. On Oct. 1, amid market turmoil, SUI dipped just 0.97%.
However, it saw a sharper 10.38% decline on Oct. 3, its largest intraday crash in three months.
SUI appears to be forming a bull pennant following its uptrend in September. Currently, the Bollinger Bands indicate the upper band at $1.97, which acts as resistance, and the 20-day MA at $1.62 provides immediate support.
With SUI trading below the upper band, the price could stabilize above the $1.62 support.
Investors should monitor for a bounce between $1.62 and $1.97, with a breakout above the resistance likely signaling bullish momentum for the week.
FTT bucks the trend
FTX Token (FTT) defied market trends last week, gaining 22% while most assets declined.
On Oct. 1, FTT rose by 13.89%, followed by a 21.53% surge on Oct. 4 and another 9.86% the next day.
Amid this uptrend, the Williams Percent Range stands at -32.59, signaling that FTT is near overbought territory but still has room for further gains.
As it witnesses a 9% retracement this new week, bulls need to defend the Pivot support at $2.01 to prevent a slip into bearish territories. Below this, the next support rests at $1.33, marking lows last seen in two weeks.
Should FTT recover from the latest correction, market participants should watch for a break above the resistance level at $2.68, which continues the bullish momentum.
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Bitcoin
Whales didn’t sell Bitcoin at $62k, on-chain data shows
Published
5 hours agoon
October 6, 2024By
adminBitcoin faces yet another correction after surpassing the $62,000 mark on Oct. 2. However, data shows that whales haven’t taken part in the latest selloff.
Bitcoin (BTC) consolidated around the $60,000 zone between Oct. 1 and 4 as the geopolitical tension between Iran and Israel heated up.
Right after the U.S. jobs report, the flagship cryptocurrency reached a local high of $62,370 on Oct. 5 as the broader crypto market witnessed bullish momentum.
Bitcoin declined by 0.2% in the past 24 hours and is trading at $61,950 at the time of writing. Its daily trading volume plunged by 53% and is currently hovering at $12.2 billion.
According to data provided by IntoTheBlock, large Bitcoin holders recorded a net inflow of 205 BTC on Oct. 5 as the outflows remained neutral. The on-chain indicator shows that whales didn’t sell Bitcoin as its price surpassed the $62,000 mark.
Meanwhile, Bitcoin’s whale transaction volume decreased by 48% on Oct. 5 — falling from $48 billion to $25 billion worth of BTC. Lower trading and transaction volumes usually hint at price consolidations and lower volatility.
Data from ITB shows that Bitcoin registered a net outflow of $153 million from centralized exchanges over the past week. Increased exchange outflows suggest accumulation as the bullish expectations for October rise.
It’s important to note that macroeconomic events and geopolitical tension can suddenly change the direction of financial markets, including crypto.
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artificial intelligence
AI Tokens Lead Crypto Rebound Amid Strong U.S. Economy
Published
2 days agoon
October 5, 2024By
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