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The Moo Deng price plummeted more than 19% in the last 24 hours to trade at $0.5159 as of 10:18 p.m. EST as investors dump their holdings in the meme coin on the market. This recent drop in the MOODENG price comes after the crypto surged in the last 7 days. While some traders opted to realize their profits, the meme coin is still 46% in the green on the weekly time frame. Moo Deng Price Resting On A Vital Support 1-hour chart for MOODENG/USD (Source: GeckoTerminal) The Moo Deng price fell out of a short-term ascending channel in the last 24 hours, according to GeckoTerminal data . Afterwards, the meme coin printed a series of lower lows and lower highs on the 1-hour chart, resulting in the formation of a bearish price channel. Now, MOODENG is resting on the key support level at $0.5006. Should the Moo Deng price lose the support of the $0.5006 mark, it could continue to trade in the newly-formed descending channel and potentially plunge to as low as $0.3840. However, MOODENG ma...

A cryptocurrency investor has taken advantage of the ongoing boom around meme cryptocurrency Moo Deng (MOODENG) to record over 2,500-fold returns on their initial investment. The gains by the unidentified investor came from an investment of $1,331, which turned into a staggering $3.4 million in a trading initiated on Raydium, an automated market maker (AMM) platform built on Solana (SOL) involving the MOODENG/SOL pair, data shared by Lookonchain indicates. The trade occurred on September 10, when the trader purchased 38.7 million MOODENG tokens for 9.8 SOL, valued at $1,331. Just two weeks later, on September 25, the value had skyrocketed, pushing the total worth to over $3.4 million, thanks to a sharp rise in the price of MOODENG, powered by the growing virality of the token on social media. Picks for you Here's what Bitcoin needs bef...