Down 18%, why is Moo Deng crypto crashing again?

Instead of making waves, Moo Deng Crypto continues to cause a sensation while its price fell on almost 18% in the last 24 hours. Like other altcoins, this hippopotamus token is no exception.

According to data of Crypto.News, Moodeng (Mood) dropped by 15.78% in the last 24 hours. Currently, it is at the lowest point of the day, worth $ 0.18. In the past few days, the token inspired by the viral pygmy hippopothe of Thailand did not do so well.

During last week, the token dropped 13.53%, despite the view of earnings at the beginning of the month. In fact, the token seemed to show signs of a rally one day before when it increased to $ 0.24 on July 23 at 9:00 am UTC. However, he has since not managed to recover from the drop.

Currently, the token is still 71% below its high price, which is at $ 0.68. Despite this, it still floats relatively high above its lowest price at $ 0.015.

The drop in prices led to a fall in market capitalization for Moo Deng Crypto. As of July 24, Moodeng’s market capitalization slipped by $ 16% 449.

Moo Deng’s commercial volume has also experienced a slide because the token continues to see less market activity. Compared to the previous negotiation day, Moo Deng’s daily trading volume fell 9.4%.

Will Moo Deng Crypto never bounce?

After a dazzling wave of 645% in early May registration On Binance Alpha, Moodeng saw its price go from $ 0.04 to $ 0.32, attracting a large number of short -term traders. However, it seems that these traders now lock the benefits, leading to net corrections while the high exit pressure comes into play.

Since May, the token has failed to recover its previous summits while it continues to lower the graphics. A bit like the others CornersMoodeng is largely motivated by the feeling of the market and the media on the market. Two things that are now absent for the most part, because the virality of the token has lost steam.

At the time, it is difficult to say if the token will be able to return to its level of key resistance from about $ 0.25 to $ 0.27. If a market event as a new list emerges, it may have a chance to recover its previous Binance-Meveh high.

The viral hippopotamus that inspired Moo Deng Crypto

Moo Deng is a pygmy hippopotamus that lives at the Khao Kheow Open Zoo in Thailand who first captured hearts just two months old, thanks to his pink cheeks, perpetually humid skin and playful antics that have become viral online. His kindness transformed him into a meme machine, generating millions of views on Tiktok and other platforms.

Thanks to the popularity of Moo Deng, the zoo saw its account of daily visitors doubles from only 3,000 to more than 6,000. This prompted the director Narongwit Chodchoy to predict Moo Deng could bring in more than $ 6.13 million by the end of 2024.

Earlier this month, on July 10, Moo Deng famous His very first anniversary. The celebration included a four -day festival, with a solid 20 kg of fruit and vegetable cake and thousands of visitors.