Big Rise in MOG Coin!

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MOG Coin has gained significant momentum since the beginning of July, becoming a focus for investors. The clear breakout of the cup-and-handle formation seen on the price chart signals a new upward wave in the market!

Closes above the main resistance level, which has served as a long-term resistance on the charts, indicate that the cup handle has been completed and the price has found the opportunity for upward movement. Technical analysts predict that further higher levels could be reached if this breakout continues.

MOG Coin's futures market is experiencing a surge of activity. Open interest volume has increased significantly in recent weeks, rising from $2.1 million to $2.95 million, demonstrating traders' ambitious expectations for the token's future. Daily trading volume has also increased from an average of $12 million to $20 million, demonstrating significant growth in market depth. The long/short ratio is trending in favor of long positions, while funding rates have moved into positive territory, with payments from long-position investors to short-position investors. This dynamic generally points to a bull market, while the listing of MOG futures contracts on various major exchanges also suggests growing institutional interest.

Blockchain data shows a significant increase in the number of active addresses and transfer volume. Positive posts about the token are prominent on social media platforms, while expectations for a rally are also rising in Telegram and Reddit groups.

While much of the available liquidity is concentrated on platforms like Binance Futures and OKX, rising funding rates are impacting MOG Coin's borrowing costs. The increased cost of short positions is seen as supporting the price. Furthermore, the use of high leverage suggests increased risk appetite but also creates vulnerability that could trigger sudden corrections.

Blockchain data shows double-digit increases in the number of active addresses and transfer volume. MOG hashtags have been trending on platforms like Twitter, Telegram, and Reddit for weeks, while positive news and price predictions shared by the community are bolstering investor confidence. The high social volume is considered one of the key catalysts behind the breakout. Don't forget to follow us on X! Click here to read our breaking news.