Fwog Price Soars 30% as Investors Rush to Buy the Frog-Themed Meme Coin

The Fwog price soared over 39% in the last 24 hours to trade at $0.2071 as of 9:58 p.m. EST as investors rush to buy the meme coin.

The Fwog price soared over 39% in the last 24 hours to trade at $0.2071 as of 9:58 p.m. EST as investors rush to buy the meme coin.

This recent surge in the FWOG price was enough to push the crypto’s weekly performance out of the red. As a result, the altcoin is now more than 30% in the green on the longer-term time frame.

Fwog Price Attempting To Clear The $0.2059 Resistance

4-hour chart for FWOG/USD (Source: GeckoTerminal)

The Fwog price broke out of a short-term descending channel in the last couple of days and has been in a positive sequence ever since. Now, the meme coin is attempting to flip the resistance level at $0.2059 into support. It was able to break above this mark in the last couple of hours, but sellers forced the crypto’s price to back below this price point.

Should the Fwog price close a 4-hour candle above $0.2059 within the next 12 hours, it could have the technical foundation needed to keep climbing in the following 24 hours. Traders might subsequently push the meme coin’s price up to $0.2412 as a result.

However, a rejection from the $0.2059 resistance level or a continued drop in the Fwog price could lead to a test of the immediate support level at $0.1724. If the potential sell pressure persists, FWOG might then drop below this support and target the next technical safety net at $0.1406.

Technicals Suggest Buyers Are Losing Their Grip On The Fwog Price

Technical indicators warn there has been a drop in buyer strength in the last couple of hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) suggest the bullish momentum that resulted in the aforementioned positive sequence is starting to cool off.

RSI readings recently pulled back to around the neutral 50 mark. However, the RSI line’s slope has shifted back to positive in the last couple of hours. Despite the RSI trying to climb again, the current reading around 50 suggests the Fwog price could go either way in the next 24 hours.

Meanwhile, the MACD line has started to level off above the MACD Signal line. Traders might see this as an early indication that FWOG’s positive trend has reached its peak. If sellers decide to step in soon, it could lead to a bearish shift in the meme coin’s momentum.

As traders try to determine in which direction the Fwog price will move next, investors are piling into frog-themed meme coin rival Wall Street Pepe (WEPE), which has raised more than $54.7 million in presale. Crypto YouTuber ClayBro told his more than 135K subscribers in a video that the new meme coin could lead the next bull market.

A Group Of Traders On A Mission To End Whales’ Dominance

Over the years, the crypto trading scene has been dominated by large investors known as whales. These secretive individuals frequently perform portfolio adjustments without notice, often to the detriment of smaller retail investors.

Wall Street Pepe, through its growing WEPE Army of degen traders and analysts, aims to bring an end to whales’ dominance in the crypto market. To achieve this, members of the group will collectively decide on their next trades, as well as share exclusive market insights and alpha trade calls with each other.

This group is inspired by the Reddit group WallStreetBets and the GameStop short squeeze. Members of the Reddit group collectively bought into GameStop, pushing its price up and ultimately leading to major losses for large hedge funds who had massive short positions on the retail gaming store’s stock.

Anyone can join the WEPE Army. To get in on the trade signals shared in the group, investors will simply need to buy WEPE tokens through the simple buy widget embedded on the project’s website. Currently selling for $0.0003665, WEPE can be purchased with either crypto or bank card.

After acquiring WEPE, holders will simply need to wait for the next trade opportunity to present itself in the market and be flagged by the WEPE Army. Until then, WEPE investors can put their tokens to work for passive crypto rewards. Anyone who buys and stakes WEPE now will unlock a 24% APY.

Investors Rush To Buy WEPE Before Its Presale Ends

Wall Street Pepe’s presale has gone parabolic, as it now sets its sights on the $55 million milestone.

Watching. Waiting. Winning. 🐸 ⚔️ pic.twitter.com/0VXricfy9f

— Wall Street Pepe (@WEPEToken) January