Moodeng: Is the Bottom In?
Happy New Year in arrears, and forgive me for not posting for quite a while. Recently, I have been providing commentary on the prices of different cryptocurrencies. One request was for Moodeng. I do not own any Moodeng. This meme coin has taken a battering in recent times. It fell 86% since its all-time high of 70 cents in November last year. As of the time of writing, the price is just over 10 cents. So, is the bottom in?
I think the bottom is in, as Moodeng has been trading sideways for the last 3 days. Markets are all about probabilities. Hence, we may see a drop to just over 8 cents. I do not expect it to fall any further. If you are interested in this coin, it might be time to start accumulating for a later price rise (no financial advice). All things considered, whether markets will behave as expected, your guess is as good as mine.
