MOODENG reached $700M mcap, then went down -97%, then pumped 15X off the bottom to almost $350M.

I went back into my crypto history memories and I can't think of a single coin that had such extreme "down then up" moves in such a short period (6 months).

[BONK is a rare example of coin that was able to reach a new ATH after a -96% move from a $300M+ top, but this was after a longer period, and BONK had much less competition during its Q4 23 pump.]

Given the fact that this is already such an outlier, I am pretty convinced that MOODENG topped again for a long time.

Obviously crypto is a place where outliers and 2-3 standard deviation moves are common, and maybe the MOODENG supply has been cornered so much that this reasoning is irrelevant, so I can be wrong.

Crypto Narratives

MOODENG reached $700M mcap, then went down -97%, then pumped 15X off the bottom to almost $350M.

I went back into my crypto history memories and I can't think of a single coin that had such extreme "down then up" moves in such a short period (6 months).

[BONK is a rare example of coin that was able to reach a new ATH after a -96% move from a $300M+ top, but this was after a longer period, and BONK had much less competition during its Q4 23 pump.]

Given the fact that this is already such an outlier, I am pretty convinced that MOODENG topped again for a long time.

Obviously crypto is a place where outliers and 2-3 standard deviation moves are common, and maybe the MOODENG supply has been cornered so much that this reasoning is irrelevant, so I can be wrong.

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hottg.com/cryptonarratives1/1761

6.7K viewsMay 16 at 09:10