MOCA Shoots Up Massive 370%: Bithumb and Upbit Announce Listing

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As a seasoned analyst with over a decade of experience in the volatile world of cryptocurrencies, I find myself intrigued by the meteoric rise of Moca coin (MOCA). The 370% surge in just 24 hours is a spectacle that even the most ardent bulls would have difficulty predicting.

The primary token of Mocaverse, Moca coin (MOCA), soared by approximately 370% over the past day within the Animoca Brands-developed blockchain environment. However, it’s currently following a cooling trend as the broader digital currency market also experiences growth. Notably, Bitcoin reached a new all-time high at $106,000 during this period. In the last 24 hours, Bitcoin displayed a volatility of only 1.0%, boasting a market cap of $2.06 trillion and a 24-hour trading volume of $91.81 billion.

The significant increase in MOCA prices can be attributed to the addition of Korean won trading options on prominent South Korean cryptocurrency exchanges like Upbit and Bithumb. Such listings are often seen as positive for altcoins because they expand the pool of potential investors. However, certain listings have also been followed by steep price drops as initial investors use the event as an opportunity to sell off their holdings.

Upbit has announced that users can trade MOCA in Korean Won (KRW), Bitcoin (BTC), and Tether (USDT) from 14:00 KST on December 16th. Notably, deposits and withdrawals of MOCA via networks other than Ethereum are not included in this listing. Here’s the details:

Conversely, Bithumb disclosed that their users can now trade MOCA at an initial listing price of 136 won. To align with local market standards, both cryptocurrency platforms have rebranded the token as Mocabus.

As a crypto investor, I’m thrilled about the listing announcements from both Upbit and Bithumb, as it opens up an opportunity for me and fellow enthusiasts to delve deeper into the Web3 space with Animoca Brands. I appreciate the proactive steps these exchanges have taken to ensure their customers can capitalize on this exciting technological shift. The tech-savvy South Korean community’s enthusiasm for crypto is contagious, and it’s inspiring to see MOCA gaining traction across the nation.

MOCA Price Analysis

At this moment, MOCA is being traded at $0.2224, marking an impressive surge of 154.74% over the past 24 hours. This upward trend has even taken it to a new all-time high of $0.4261, after recovering from a daily low of $0.08642. As per CoinMarketCap data, MOCA currently holds a market capitalization of approximately $344.33 million and has seen an enormous trading volume of around $1.21 billion.

As an analyst, I’ve noticed that the Relative Strength Index (RSI) for MOCA is currently at 85.63, indicating an overbought condition. This typically signals a potential correction may be on the horizon. However, it’s important to note that the slope of the RSI line suggests that prices could still climb higher in the near future.

Source: TradingView

On the daily chart shown, the MACD indicator suggests a bullish divergence for MOCA, as the MACD line (which is blue) has crossed above the signal line (red), causing a positive histogram. Keep in mind that significant price increases may reach their maximum before sellers enter the market, so all trading positions should be approached with care.

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2024-12-16 16:54