Moca Coin (MOCA) rose to a new all-time high of $0.4261 after skyrocketing more than 370% in the past 24 hours.
Moca coin (MOCA), the primary token of Mocaverse, a blockchain ecosystem that is being developed by Animoca Brands, has shot up as much as 370% in the past 24 hours but is now on a cooldown path as the broader digital asset space also turned green with Bitcoin BTC $103 758 24h volatility: 0.9% Market cap: $2.05 T Vol. 24h: $91.77 B making a new all-time high at the $106,000 price level.
A major reason for the surge in the MOCA prices is the listing of Korean won trading pairs on leading South Korean crypto exchanges Upbit and Bithumb. Listing events are largely considered bullish for altcoins because they find a broader investor base. However, some listings have also led to massive price plunges as early investors make the event an exit strategy.
Upbit confirmed that its customers will be able to trade MOCA in KRW, BTC, and USDT USDT $1.00 24h volatility: 0.1% Market cap: $140.04 B Vol. 24h: $125.15 B pairs, with trading starting at 14:00 KST on December 16th. Further, MOCA deposits and withdrawals via networks other than Ethereum will not be supported, read the listing announcement.
On the other hand, Bithumb also revealed that its customers will be able to trade MOCA with a listing base price of 136 won. In accordance with the regional market, both the crypto exchanges have changed the name of the token to Mocabus.
Following the listing announcement from both the crypto exchanges, Animoca Brands’ co-founder Yat Siu thanked Upbit and Bithumb for taking proactive measures for their customers to gain exposure to the Web3 space. The tech-savvy and pro-crypto South Korean community would push the presence of MOCA throughout the nation.
MOCA is trading at $0.2224 at the time of writing, up 154.74% in the past 24 hours and making a daily high at $0.4261 (which is also the altcoin’s new all-time high) while rebounding from a daily low of $0.08642. According to CoinMarketCap data, the digital asset claimed a market cap of $344.33 million while witnessing a massive trading volume of $1.21 billion.
The Relative Strength Index (RSI) of the MOCA price trajectory reads a value of 85.63, which means that the altcoin is overbought, and in such a scenario, the chances of a correction in the near future increase. However, the gradient of the RSI line suggests higher prices as well.
Source: TradingView
The MACD indicator in the daily chart above confirms that MOCA just witnessed a bullish divergence with the MACD line (blue) breaking above the signal line (red), resulting in a bullish histogram. It is important to note that skyrocketing prices might hit their peak once the buyers take profit, and all positions must be opened with caution.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Bitcoin News, Cryptocurrency News, News
With a background in finance and a passion for innovation, Anisha has been covering the ever-evolving world of crypto for over four years. Her deep understanding of the crypto market have made her a trusted source for analysis and news. Whether it's dissecting the latest trends or decoding whitepapers, Anisha is dedicated to bringing clarity to the world of digital assets.
