- MOG started the month with an over 4% increase.
- Its active addresses have increased in the past few days.
Mog coin [MOG] has recently captured significant attention in the cryptocurrency market, with a notable surge in its price over the last seven days.
This sharp price increase has been accompanied by heightened activity from its active addresses, indicating a growing interest and engagement from the user base.
Mog coin spikes in value
Mog coin has emerged as a standout performer in the cryptocurrency market, according to the latest data from CoinMarketCap.
Over the last seven days, MOG has experienced an exceptional increase, with its price soaring by over 100%.
This substantial growth has propelled MOG into the top 100 cryptocurrencies, where it ranked 95th with a market capitalization nearing $699 million at press time.
Given the current momentum, there’s a strong possibility that MOG’s market capitalization could surpass $700 million before the day’s end if the upward trend continues.
Additionally, recent data indicated that the market cap has expanded by more than 5% in the last 24 hours.
MOG sees a strong bull trend
Mog coin has demonstrated significant positive momentum on a daily timeframe, with consecutive uptrends observed over the last three days.
Notably, the first substantial surge occurred a week ago, on the 24th of June, when MOG’s price increased by over 33%, pushing its value to approximately $0.0000012.
This uptrend continued, and by the 27th of June, it experienced another major spike of over 28%, elevating its price to around $0.0000017.
As of this writing, MOG was trading at around $0.0000019, marking an increase of over 4%. The continuous upward movement in its price was also reflected in the Relative Strength Index (RSI).
Source: TradingView
As of this writing, the RSI was above 70, indicating that Mog Coin was still in a strong bull trend. An RSI value above 70 suggests that an asset might be considered overbought, which can sometimes precede a price correction.
However, in strong bull markets, prices can remain in the overbought territory for extended periods, reflecting sustained buying pressure.
More addresses stay active
AMBCrypto’s analysis of Mog coin’s daily active addresses indicated a significant uptick in network activity.
Over the past few days, the number of active addresses consistently remained above 1,000, signaling increased usage and transactions.
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This surge peaked on the 29th of July, when the number of active addresses exceeded 1,700. As of press time, there were over 500 active addresses.
Source: Santiment
This heightened activity could be attributed to new entrants in the market, existing holders increasing their transactions, or a response to recent positive developments or news related to Mog Coin.