The past 24 hours have been a quiet period for the cryptocurrency market, after adding more than $300 billion to the total market cap in the previous 10 days. Bitcoin price is making a smart move by not falling after the rally but moving sideways.
Memecoins dominated Monday and Tuesday and Wednesday and Thursday were moved to altcoins.
The meme season is still on and this might be the best time to take a stand as the meme coin control cycle is sure to repeat itself in the next few days.
MOG Coin
Mog Coin is a premium Ethereum-based memecoin that has gained 12,000% since its release in July 2023. The cryptocurrency broke its all-time high two days ago and has been consistently breaking all-time highs.
Despite its high price, the MOG experience still adds up.
It is currently trading at 0.000001964 with a growth of 10% in 7 days and 158% in 30 days, although the coin is down 7.4% in 24 hours but it is moving above all moving averages.
In a recent review of Smart Money Wallet metrics, MOG became the most accumulated token yesterday, with PEPE coming in second.
The 4-hour chart of the MOG/USDT pair is expecting a sharp rise in an ascending channel. The applied MACD indicator is heading towards the middle line, further corrections may occur.
In addition, the Alligator indicator that shows the trend movement reveals that the lines are crossing each other, which means that the price is in the process of returning to the right direction now. Once the lines diverge, a reversal can be seen.
Since MOG is one of the smart money wallets, this coin gains the potential to achieve more gains in the upcoming cycles.
Traders should closely monitor MOG price action and changes in smart money as this insight may indicate great market trends and opportunities.
baby
The third largest meme coin by market cap, PEPE has been the most actively traded meme coin this cycle with a rise of over 25% in the past seven days.
PEPE price dropped to $0.00000767 on July 5, and has managed to fall by 57% to its current price of $0.00001167. Interestingly, PEPE volume on Thursday reached $1.2 billion, surpassing DOGE at $730 million and Shba Inu at $810 million.
Open interest data rose to $148 million, the highest since June 7, mainly on Bitget and OKX. This is a good indicator of traders’ interest in buying the asset.
We saw significant whale activity on Thursday, with one whale purchasing 1.39 trillion Pepe tokens, and another whale grabbing 44.9 billion and 28.3 billion respectively.
PEPE is also the runner-up in the Smart Money Wallet Compilation List, after MOG.
In the PEPE/USDT chart, we can see the RSI in the neutral zone with more room for correction and pullback strength.
The Ichimoku Cloud indicator shows the price above the cloud and the trend lines are aligned with the price. Usually, the price being above the cloud is seen as a continuation of the trend in the bullish zone.
Traders should include PEPE in their close watchlist, as this coin has been seeing the highest activity in wallets with mixed social sentiment.