The altcoin market is recovering from yearly lows, with Bitcoin rising 6% and Ethereum up 5%. Memecoins, including Ethereum-based Mog Coin, have seen a 62% surge in the past week, reaching an all-time high.
Mog Coin has surged 6% in the past 24 hours, with trading volume increasing by 27%. This coincides with its first anniversary since its launch in July 2023.
Other memecoins, such as PEPE, DOGE, SHIB, and WIF, also saw gains. The 9-day exponential moving average (EMA) is below the trading price at $0.00000172227, emphasizing the bullish sentiment.
The daily Relative Strength Index (RSI) has hovered around oversold levels recently. The bullish trend is expected to continue, with Mog Coin becoming the biggest gainer among the top 100 tokens by market cap.
