- Moo Deng has dipped by double digits, though uptrend momentum stays intact.
- Vitalik’s backing and KRW itemizing enhance long-term sentiment.
- Moon Deng should maintain above the 0.618 Fibonacci retracement assist degree for the continuation of the bullish pattern.
After a splendid efficiency, the Moo Deng memecoin has seen its worth drop by about 11.9% over the previous week, signalling a pause in its latest bullish momentum.
This correction follows a euphoric rally that captured vital market consideration, propelled by each celebrity-level virality and assist from Ethereum co-founder Vitalik Buterin.
The value presently trades at roughly $0.231, down from latest highs that brushed towards the $0.27 mark, reflecting a cooling-off interval after intense speculative exercise.
Technical evaluation suggests continued bullish momentum
Regardless of the dip, Moo Deng’s broader pattern stays intact, supported by a powerful confluence of technical indicators and a surge of institutional curiosity following its itemizing on Korea’s Coinone alternate.
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Regardless that the memecoin has shed near 14% from its native excessive, analysts are viewing the retracement as a wholesome half of the present uptrend moderately than a shift in pattern.
As worth retreats, it’s now testing a support-rich confluence zone that features the 0.618 Fibonacci retracement degree, the 200-day shifting common, and a long-term excessive timeframe assist vary.
Traditionally, such zones have triggered robust bullish reactions, and if this sample holds, the latest dip might signify a great accumulation alternative.
Bulls are searching for the formation of a better low that may reinforce the validity of the continued uptrend.
If Moo Deng confirms assist right here and begins to reverse, the value is more likely to goal earlier resistance ranges close to $0.31 and probably $0.35 within the coming periods.
Fundamentals and sentiment stay robust regardless of volatility
Notably, the present worth retracement got here simply weeks after Vitalik Buterin donated 88 ETH, price round 10 million Thai baht, to Khao Kheow Zoo in Thailand to sponsor Moo Deng, the real-life pygmy hippo behind the memecoin, as promised in December 2024.
That prime-profile gesture not solely elevated Moo Deng’s international profile but additionally catalysed a dramatic surge in worth and buying and selling volumes, with the token gaining over 125% within the days that adopted.
Though the hype has briefly settled, the coin nonetheless advantages from robust neighborhood engagement, viral momentum, and increasing market entry through the KRW market on Coinone.
The mixture of cultural relevance, blockchain symbolism, and real-world charity has created a uniquely resilient narrative round MOODENG, giving it extra endurance than typical memecoins.
Whereas short-term merchants might react to pullbacks with warning, long-term holders seem assured that this correction is a component of a bigger bullish sample.
With Moo Deng buying and selling inside a predictable technical construction and supported by growing liquidity, market watchers at the moment are eyeing a possible rebound that would reestablish upward momentum.
If this assist degree holds and the anticipated larger low types, MOODENG may quickly resume its climb and problem its latest highs, making the present dip a doubtlessly strategic re-entry level.
