• Mog Coin (MOG) was up 62% in the past seven days.
• Bitcoin hits a 12-day high of $62,995.23 with 6% surge.

The altcoin market is recovering from recent yearly lows, buoyed by positive market sentiment. Bitcoin has risen 6%, reaching a 13-day high and trading at $62,995.23. Ethereum is up 5%, hitting a 12-day high at $3,349.84. And, this bullish trend has brought memecoins back into the spotlight, with Ethereum-based memecoin Mog Coin hitting an all-time high.

Mog Coin has surged 6% in the past 24 hours, with trading volume increasing by 27%. It is trading at $0.000002136 after hitting its ATH of $0.000002187, thirty minutes ago. The memecoin has been bullish over the past week, with a 62% surge.

Notably, this coincides with its first anniversary since its launch in July 2023. In the past 24 hours, Mog Coin has claimed the title of the biggest gainer among the top 100 tokens by market cap. Other memecoins also saw gains, with PEPE up 8%, DOGE up 5%, SHIB up 4%, and WIF up 10%.

Can the Bull Run Continue?

A closer look at Mogcoin’s recent price movements reveals an underlying bullish trend on the daily chart. The 9-day exponential moving average (EMA) is below the trading price at $0.00000172227, further emphasizing the bullish sentiment. The daily Relative Strength Index (RSI) has hovered around oversold levels recently.

The upward trend may continue if the price breaks through the $0.000002370 resistance level. Conversely, a drop below the $0.0000018486 support level might see Mog Coin testing the critical $0.0000013533 level.