Date: Fri, Oct 25, 2024, 08:50 AM GMT

The cryptocurrency market is buzzing as Binance, the leading crypto exchange, continues its trend of listing new memecoins. Recently, Binance has welcomed tokens like Goatseus Maximus (GOAT), Simons Cat (CAT), and NEIRO. Now, Solana-based memecoin Moo Deng (MOODENG) has taken center stage, skyrocketing by over 100% in just one hour following Binance's latest announcement.

Source: Coinmarketcap

Binance Future Listing

Just 1 hour ago, Binance revealed that it will launch the MOODENG/USDT perpetual contract on Binance Futures at 10:00 AM UTC on October 25, 2024. Traders will have access to up to 75x leverage, fueling excitement and trading activity around the token.

Source: X

What’s Next for MOODENG?

As a result of this announcement, MOODENG's price surged to $0.1575, breaking through key levels of $0.1170 and $0.1372. The current trading is now approaching a crucial resistance zone between $0.1582 and $0.1802. If MOODENG manages to break through this level, it could reach the next resistance level at $0.2660.

Source: TradingView

However, it's important to note that recent tokens listed on Binance Futures often experience a retracement after an initial pump. If MOODENG sees a pullback, it might revisit the support level at $0.1372 and $0.1170.

Final Thoughts

With the excitement around MOODENG's recent price surge, traders should stay alert for potential breakout opportunities, as well as the possibility of a correction. As always, it's crucial to conduct thorough research before making any investment decisions in the volatile cryptocurrency market.

Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.

Also Read: Analyst Highlights Tokens That Could Record Potential Gains: JTO, MEME, and UMA in Focus.