The Moodeng price falls 14% to USD 0.2613 after a weekly rebound of 703%

Moodeng, the meme coin based on Solana, shot 703% in just one week, but since then it has retreated 14.02% since its recent maximum price around USD 0.2613.

The rapid increase of less than USD 0.04 to more than USD 0.30 had driven the currency to the top of cryptocurrency yield lists and attracted a strong speculative interest.

The open interest It has fallen by 29.22%, falling from its maximum of USD 342 million to USD 246.10 million, indicating a cooling in the activity of the futures market after the increase of last week.

The previous increase reflected an important influx of merchants, but the decrease can suggest a lower conviction or profit taking among speculators.

Although the upward trend had been driven by the impulse, the current price drop indicates a profits and a cooling of the feeling, since the Token struggles to maintain the key resistance in USD 0.355.

Even so, his position within the Solana ecosystem keeps him in the traders monitoring lists.

The next few days can decide whether Moodeng finds support or continues to fall as speculative demand decreases.

Small owners

According to on-chain data of HolderscanMoodeng’s retail base is expanding rapidly.

The total number of headlines has increased to more than 75,000, with a remarkable increase in smaller wallet addresses.

In just ten days, the proportion of holders with less than $ 10 in Moodeng jumped from 17% to 33%.

This trend indicates a growing retail interest, as smaller investors accumulate token, probably attracted to the strong price increase and short -term profit potential.

The growth of low -value participations usually reflects a strong participation of the bases.

While this distribution may seem fragmented, it also indicates a reduction in the concentration of tokens, which can support price stability in highly speculative assets.

Moodeng price action

At the time of writing this article, Moodeng is traded at 0.2613 dollars, 14.02% less than its recent.

It remains just below a key level of $ 0.355 dollars.

Fountain: Coinmarketcap

The technical graphics suggest that overcoming this level and establishing it as a support could push the Token towards a new test of its previous historical of USD 0.700.

However, the current decrease could reflect that short -term investors are taking benefits. A continuous drop can cause the price to return to USD 0.180, a fall of more than 30% from the current levels.

The previous bullish trend had been supported by futures market data, where USD 324 million had fluid to Moodeng contracts. It remains to be seen if this trend remains in the midst of the growing volatility.