MOODENG price drops 14% to $0.2613 after 703% weekly rally

Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com Open interest has now dropped by 29.22%.Total holders crossed 75,000, with retail wallets under $10 doubling.Resistance remains at $0.355, with downside risk toward $0.180.MOODENG, the Solana-based meme coin, soared 703% in just one week, but has since retreated 14.02% from its recent high trading at around $0.2613.The rapid rise from under $0.04 to over $0.30 had propelled the coin to the top of crypto performance charts and attracted strong speculative interest.Open interest has now dropped by 29.22%, falling from its peak of $342 million to $246.10 million, signalling a cooling in futures market activity after last week’s surge.The earlier increase reflected a major influx of traders, but the decline may suggest reduced conviction or profit-taking among speculators.While the bullish trend had been driven by momentum, the current price drop indicates profit-taking and cooling sentiment as the token struggles to hold key resistance at $0.355.Still, its position within the Solana ecosystem keeps it on traders’ watchlists.The coming days may decide whether MOODENG finds support or continues sliding as speculative demand wanes.Small holdersAccording to on-chain data from Holderscan, MOODENG’s retail base is expanding rapidly.The total number of holders has climbed to over 75,000, with a notable rise in smaller wallet addresses.In just ten days, the share of holders with less than $10 worth of MOODENG jumped from 17% to 33%.This trend signals increasing retail interest, as smaller investors accumulate the token, likely drawn by the steep price rise and potential for short-term profits.The growth in low-value holdings typically reflects strong grassroots participation.While such distribution may appear fragmented, it also indicates a reduction in token concentration, which can support price stability in highly speculative assets.MOODENG price actionAt the time of writing, MOODENG is trading at $0.2613, down 14.02% from its recent peak.It remains just below a key resistance level of $0.355.Source: CoinMarketCapTechnical charts suggest that breaching this level and establishing it as support could push the token towards a retest of its previous all-time high of $0.700.However, the current decline could reflect short-term investors taking profits. A continued slide may send the price back to $0.180—a drop of over 30% from current levels.The earlier bullish trend had been supported by futures market data, where $324 million had flowed into MOODENG contracts. Whether this trend holds remains to be seen amid growing volatility.Share this articleCategoriesTagsSource link