The Mog Coin (MOG) price rallied 35% in the last 24 hours to establish a new all-time high of $0.00000220. This is the second ATH in the last three weeks, with MOG capitalizing on the attack on Donald Trump.
As a result, the Open Interest has seen a 45% growth in a single day, reaching $15.99 million. The meme coin craze introduced the crypto market to the likes of PEPE, dogwifhat (WIF), and BONK.
Now entering this list is another meme coin that seems to be capitalizing on an almost tragic event that occurred this week.
Mog Coin Forms New All-Time High
Mog Coin (MOG), a meme coin that rallied by more than 35% in the last 24 hours, has established a new all-time high of $0.00000220. This is the second all-time high for the meme coin in less than a month.
The most recent achieving is the result of the recent attack on US Presidential candidate Donald Trump. The attack resulted in a surge in TRUMP namesake tokens, such as MAGA, which translated into growth for the crypto market, given Trump’s support for digital assets.
MOG capitalized on this momentum as well, with the meme coin’s market capitalization reaching $779 million. This also propelled Mog Coin into the top 100 cryptocurrency list, placing it at position 86, surpassing the likes of GALA, The Sandbox (SAND), and ORDI.
The surge in the meme coin also led to a sharp rise in the inflows noted by the investors. MOG holders poured money into the asset, and the bullishness could also be seen extending into the futures market.
Mog Coin’s open interest shot up by 45% in the span of a day from $11 million to $16 million. The rise in OI is a sign of increased contracts in the market, and with the funding rate being positive, it generally suggests a domination of long contracts.
This means that investors are betting on a rise in Mog Coin’s price.
Meme Coins Join the Elite List
The crypto market, in an effort to find a sincere status in the global economy, ironically mostly feeds off the hype surrounding meme coins. These jokes of cryptocurrency are not just popular but also significant as the investments made in them are pushing them into the top 100 crypto asset list.
At the moment, eight crypto assets are part of this list, led by Dogecoin (DOGE) and Shiba Inu (SHIB). The former is one of the ten biggest cryptocurrencies in the world, and the latter is among the top 15.
This goes to show how far the meme coin craze has come. The other assets in the top 100 list are PEPE, dogwifhat (WIF), BONK, FLOKI, and Brett. The list could increase since some crypto markets will always lack seriousness.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
