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Cryptocurrency News Articles
This guy turned $1,331 into $3.4M in only 15 days, a 2,554x return! 😱
Sep 26, 2024 at 11:56 pm
He spent 9.8 $SOL($1,331) to buy 38.7M $MOODENG on Sept 10, now worth more than $3.4M!
A trader who invested 9.8 Solana (SOL) (around $1,331) to buy 38,700,000 MOODENG tokens on September 10 has reportedly made millions.
According to the trader's statement, their initial investment is now valued at over $3.4 million, indicating a 2,554x return on their money in just fifteen days. This incredible gain has been the talk of the crypto town.
As of press time, MOODENG has risen by 29.9% in the last 24 hours and 161% over the week. It trades at 0.0122291 USD, and the coin has recently shown positive price movement despite the volatile market conditions.
The token's 24-hour trading volume is $2,473.46, which is 53.67% lower than the previous day's volume. The volume-to-market capitalization status is 25.66%, indicating moderate trading interest relative to the available market.
Although the token's volumes have become less active, the overall price trend continues to be upwards, with the seller claiming to have 42.07P MOODENG in circulation. This suggests that traders are still capitalizing on the short-term volatility and driving up the token's price.
MOODENG's technicals show a recent strong price swing, making the token attractive for traders looking to capitalize on short-term gains.
The technical chart suggests that MOODENG is on an up-rising path, reaching a high of $0.12. Following this high, the token encountered a downward movement in a descending channel, indicating a consolidation phase where traders booked their gains. However, MOODENG of Mando broke this and formed a new up-moving level, leading to an increase in the token's price.
Currently, the token is hovering near the $0.12 resistance, which served as a strong floor in the token's previous attempt. If the price bar closes above this resistance and pivot level, it could trigger further trading opportunities to the upside, particularly for MOODENG.
However, failure to penetrate this level might lead to a reversal as traders book their profits in the market. This technical also shows that the volume oscillator signifies changing trading interest, which could indicate further short-term price movements.
The rapid price increase for the meme coin can be attributed to broader trends observed in the cryptocurrency market, particularly speculation. Tokens with lower market capitalizations, like MOODENG, often experience greater magnitudes of price fluctuation due to speculative trading.
MOODENG attracted participants as an early investor who started trading with $1,331 quickly made $3.4 million, setting the stage for ambitious expectations from others wishing to achieve a similar result in a short period.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
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