$MOODENG
Here is the latest analysis regarding the Moo Deng (MOODENG) coin, a Solana-based memecoin inspired by the viral pygmy hippo baby from Thailand:
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š Current Price Performance
Currently, the price of MOODENG is around $0.25 USD, with a daily trading volume exceeding $400 million and a market capitalization of approximately $248 million. Despite experiencing a correction of 13.81% from its local peak, the medium-term trend remains bullish as the price approaches a strong technical support zone.
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š Technical Analysis
Key Support Zone: The price is approaching the area of $0.20, which is the confluence of the 0.618 Fibonacci retracement, the 200-day moving average (200 MA), and the daily support-resistance zone.
Pattern Formation: The formation of a "rounded bottom" pattern on the daily chart indicates the potential for a price recovery of up to 50% if this support holds.
RSI Indicator: The Relative Strength Index (RSI) is above 90, indicating overbought conditions and a potential short-term correction.
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š Price Predictions
Several price predictions for MOODENG in 2025 suggest significant growth potential:
June 2025: The price is expected to reach an average of $1.006, with a range between $0.781 and $1.195.
December 2025: The average price prediction is around $0.497, indicating a potential gain of more than 100% compared to the current price.
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š§ Fundamental Factors
Origin of the Meme: MOODENG is inspired by a pygmy hippo baby named Moo Deng that went viral on the internet in September 2024.
Community and Exposure: MOODENG's inclusion in Binance's "Alpha Projects" list increases exposure and investor interest.
Tokenomics: MOODENG has a fixed total supply of around 990 million tokens, with no official whitepaper, emphasizing a community-driven approach.
