🌎 Moca Network Coin Hits Record High

Moca Network Coin Sees Record High After Multiple Exchange Listings

Moca Network Coin experienced a significant surge, forming a “God candle” and reaching a record high, following several exchange listings on Monday. The coin’s price skyrocketed to an all-time high of $0.4347, marking a 616% increase from its October low.

This rally led to a substantial boost in its market capitalization, which exceeded $278 million, and its fully diluted valuation, which reached $1.6 billion. The surge was largely driven by the announcement of Moca Coin’s listing on Binance Futures, which will offer up to 75x leverage.

Significant Exchange Listings

The listing on Binance, the largest crypto exchange globally, provides access to millions of users who can now trade the coin. In addition to Binance, Moca Coin was also listed on Bithumb and Upbit, two of South Korea’s largest exchanges. Other recent listings include Bullish, CoinList, and Tokenize.

Currently, the majority of Moca Coin trading activity is occurring on Bybit, Bithumb, Bitget, and Kucoin. Moca is a blockchain network developed by Animoca Brands, one of the most prominent investors in the crypto industry.

Moca’s Use Case and Technology

The Moca network powers the Mocaverse, which aims to create the largest on-chain cultural economy. Built on the LayerZero v2 protocol, Moca supports platforms across industries such as music, gaming, and education. Moca Coin is used to facilitate payments and cover transaction fees within the network.

Market Reaction and Price Analysis

Cryptocurrency prices often experience a rally after receiving a major listing by companies like Binance, Upbit, and Bithumb. This rally is often accompanied by high volume and hype. In Moca Coin’s case, the 24-hour volume rose to over $1.2 billion, the highest level on record.

However, such rallies are often short-lived as momentum fades. This explains why Moca Coin spiked to $0.4347 before experiencing a sharp reversal to $0.15. The 4-hour chart shows that MOCA went parabolic, reaching a high of $0.4290 following its multiple exchange listings.

Moca Coin remains above the 50-period and 100-period moving averages, while the Relative Strength Index has pointed downward. This indicates the possibility of a bounce as the coin approaches a “break and retest” pattern, a popular continuation signal.

Tips for Investors

When investing in cryptocurrencies like Moca Coin, it’s essential to keep the following tips in mind:

Always conduct thorough research on the coin’s technology, use case, and market trends.
Keep an eye on exchange listings, as they can significantly impact the coin’s price.
Monitor the coin’s trading volume and market capitalization to gauge its liquidity and popularity.
Be cautious of short-lived rallies and sharp reversals, as they can be unpredictable.