What is Moo Deng?

In the Web3 world, meme coins have always been the most unconventional existence, and Moo Deng (MOODENG), born on September 10, 2024, is undoubtedly the latest protagonist in this narrative of getting rich while laughing.

MOODENG is a meme coin issued on the Solana ecosystem through the Pump.fun platform. Pump.fun provides a mechanism for quickly creating tokens without the need for coding, offering high liquidity and exposure for meme enthusiasts and speculators. The birth of Moo Deng is a representation of this coin, just as the coin represents the meme trend.

The Origin of Moo Deng

Moo Deng’s inspiration comes from a hippopotamus named Moo Deng at the Khao Kheow Open Zoo in Thailand, which became an internet sensation due to its funny behavior, cute face, and “mood swings.” This cultural symbol was quickly captured and transformed by the crypto community, ultimately presented on the blockchain in the form of MOODENG, evolving from a humorous short video into a token worth millions.

Price Status and Technical Overview

As of the time of writing this article, the price of MOODENG is approximately $0.15, having quickly dropped from around $0.34 to $0.12 within just two months, representing a decline of over 60%. According to CoinCodex’s predictions, there may be even greater declines in the future, with an estimated trading range for the year between $0.08 and $0.275.

Technical Analysis

1. Key support level: $0.13 (if it is broken, it will test $0.08)
2. Main resistance levels: $0.18 to $0.20 (If broken, it is expected to return to $0.25)
3. RSI Indicator: Overbought, within the 65~70 range, there is a short-term overheating risk.
4. Volume Trend: Significantly increased, market short-term heat remains high

From a technical perspective, although MOODENG has a decent level of interest, it will face correction pressure in the short term if there are no new narratives to stimulate it.

Price Prediction and Analysis of Influencing Factors

1. The traffic and popularity of the Pump.fun platform
   Pump.fun, as one of the hottest meme coin incubation platforms on Solana, directly affects the buying enthusiasm for MOODENG during its peak traffic periods. If a new round of popular coins flows into the platform, funds may be withdrawn from the old coins, putting pressure on MOODENG.
2. Community Effect and KOL Dissemination
   The birth of MOODENG relies entirely on the combination of memes, communities, and meme culture, the heated discussions on X and Telegram, and whether well-known KOLs endorse or engage with the memes, all of which can cause short-term price fluctuations.
3. The overall atmosphere of the SOL ecosystem
   As a token issued in the Solana ecosystem, the trend of MOODENG shows a high correlation with the price of SOL itself and the enthusiasm of the ecosystem. If SOL continues to attract funds, along with a surge in NFTs and meme coins, MOODENG is expected to gain greater narrative space.
4. Price expectations and speculative psychology
   The life cycle of meme coins is often closely related to the three stages of FOMO - profit-taking - and floor rescue. When the price approaches historical highs, if the trading volume does not increase, it is more likely to trigger profit-taking sell-offs, leading to price corrections.

Currently, most investors in MOODENG are short-term traders, lacking a long-term holding belief, which means that the coin price is easily affected by emotional factors.

Price prediction for MOONDENG

Through the AI model data calculation, referring to the past MOONDENG prices and related information, predictions for future prices are made, for data sharing purposes only and not as investment advice. Refer to the chart below:

MOONDENG price prediction trend

MOONDENG Price Prediction and Confidence Interval

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Summary

MOODENG is a community-driven on-chain meme culture experiment. For short-term traders, it is excellent material for momentum trading; however, for those who genuinely care about the project’s fundamentals, this coin has virtually no application support, and its core value is still built upon the game of who shouts “explode” first can sell off their holdings.