Analysts see bullish momentum for Moo Deng memecoin even after 11% drop

Moo Deng has dipped by double digits, although uptrend momentum remains intact. Vitalik’s backing and KRW listing boost long-term sentiment. Moon Deng must hold above the 0.618 Fibonacci retracement support level for the continuation of the bullish trend. After a splendid performance, the Moo Deng memecoin has seen its price drop by about 11.9% over […] The post Analysts see bullish momentum for Moo Deng memecoin even after 11% drop appeared first on CoinJournal.

May 22, 2025 - 01:30

Analysts see bullish momentum for Moo Deng memecoin even after 11% drop

Moo Deng has dipped by double digits, although uptrend momentum remains intact.
Vitalik’s backing and KRW listing boost long-term sentiment.
Moon Deng must hold above the 0.618 Fibonacci retracement support level for the continuation of the bullish trend.

After a splendid performance, the Moo Deng memecoin has seen its price drop by about 11.9% over the past week, signalling a pause in its recent bullish momentum.

This correction follows a euphoric rally that captured significant market attention, propelled by both celebrity-level virality and support from Ethereum co-founder Vitalik Buterin.

The price currently trades at approximately $0.231, down from recent highs that brushed against the $0.27 mark, reflecting a cooling-off period after intense speculative activity.

Technical analysis suggests continued bullish momentum

Despite the dip, Moo Deng’s broader trend remains intact, supported by a strong confluence of technical indicators and a surge of institutional interest following its listing on Korea’s Coinone exchange.

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