Moodeng sets over 130% because open interest and exchange balances fall

Moo Deng Price has gained momentum on Friday, because it rose by over 136%, which makes it one of the best tokens in Cripto.

Moo Deng (Moodeng), Meme coins with Meme, has risen in an Intradai from $ 0.104 per afternoon Asian – her highest level of 1. February. The token now gained over 300% of her annual low.

In progress, overlooking coincides with almost 440% spikes in Futures open interest, hitting $ 125 million, which is most of January from 7. January by Koinglas data. Just a month ago, the open interest was sitting on just $ 13.4 million. Rising open interest usually indicates an increasing interest of traders and more speculative activities on the market.

Rally also aligns with weighted altcoin financing rates, which has become positive today. The positive funding rate essentially means that traders last for a long time paying a small fee on the short. It is a sign that more people are leaning threads and ready to pay off to keep their long positions.

Meanwhile, data on the chain show that investors hold their tokens, with an exchange seeing the seven real days of net outflows in the total amount of about 3.5 million dollars. This was generally, because it proposes people to launch the exchange tokens in private wallets, reducing immediate sales pressure.

By adding fuel to hype, it grows in the community for bynance to find moodeng on its spot market. Although nothing has been confirmed, speculation heats because Moodeng already trades the binance and has lists on Big Exchange Like Coinbase, OCCS, Bitget and Gate.IO.

Modeng’s Rally today also a mirror spreads Memecoin Bum, fueled in part Bitcoin’s rally next to $ 100,000 For the first time since February.

Moment Bellwhere reiterated the risk of appetite in the market, sending the total number in Memecoin’s market in the last 24 hours in the last 24 hours. Other big names like Pepe (Pepe), Penguins penguins (Pengu), Popcat (Popcat) and my coins (My) They also published strong profit from 20-50%.

Bitcoin traded about $ 10,075 in time of pressure, just shy his own time, dominating market feelings and helping pull a wide range of Altcoin.

Modeng price analysis

On 4-hour USDT map, Modeng has violated above the upper border of the bull form, signals the potential continuation of the posttend based on classical technical analysis.

What is important, the 50-day movement of average remains above 200 days, which means that the golden cross is still intact, holding up a longer-term bakar trend in the game.

Moments indicators are also subject to Bullish prospects. The MACD lines turned up, hinting on a growing positive momentum.

In addition, the relative strength index has risen deep in the territory with the transmission, hit 94.7. Although this could signal that the rally overheats in a short time, strong memories sets of my power remain longer than expected.

With this setting, Modeng could still be climbing for its next large obstacle at a psychological resistance level of $ 0.20. A clean fracture that could open a way for the bulls to target this year’s high of $ 0.31, which was last seen in January 4.

As before noted Analysts on Cripto.News, historical trends suggest that one dominance of Bitcoins closer to level 72.92%, last seen in December 2022. years, investors could start rotating capital in Altcoins.

The current domination of Bitcoin sits to 64.14%. If history is repeated, it could result in an additional momentum for memecoins like Moded in the coming weeks.