Moodeng Gains 20% Following Bybit Perprtual Contract

The cryptocurrency landscape continues its dynamic evolution with listing the MOODENGUSDT perpetual contract on the Bybit exchange. The launch development marks a significant milestone for Moodeng (MOODENG), providing traders and investors new avenues to engage with the asset.

The listing enables leveraged trading with up to 12.5x leverage, significantly amplifying potential profits and losses.

Moreover, traders can access the MOODENGUSDT perpetual contract through various Bybit trading tools, including the Trading Bot, Futures Grid, Futures Martingale, and Futures Combo.

Furthermore, the diversified suite of tools caters to different trading styles and risk appetites, allowing users to tailor their strategies according to their individual preferences.

This listing comes as the global cryptocurrency market shows signs of renewed optimism. As of October 1st, 2024, the total market capitalization is $232.25 million, reflecting a healthy 3.86% increase within 24 hours.

Moodeng Surge on Bybit Launch

Moodeng itself has exhibited positive momentum. It is currently trading at $0.234257, representing a 4.33% surge over the last 24 hours. With a circulating supply and maximum supply of 989.97 million MOODENG coins, the project holds the 267th position in the market cap rankings.

The availability of the MOODENGUSDT perpetual contract on Bybit provides several potential benefits. First, it offers increased liquidity, which could lead to tighter spreads and reduced trader slippage.

Secondly, it allows for round-the-clock trading, enabling participants to capitalize on market movements regardless of geographical location. Lastly, introducing leverage will enable traders to amplify their positions, potentially leading to higher returns.

However, it is crucial to acknowledge the inherent risks associated with leveraged trading, particularly in the volatile cryptocurrency market.

The listing of the MOODENGUSDT perpetual contract on Bybit signifies growing interest in Moodeng and its potential within the cryptocurrency ecosystem.

Smart Trader Rakes in Millions

Four hours after MOODENG was launched, an intelligent trader bought about $800 worth of the token, now worth about $7.5m, on Friday.

Lookonchain on their X page stated:

“This guy spent only 6 $SOL($815) to buy 30.1M $MOODENG 17 days ago, now worth $9.4M, a 11,534x return! #Moodeng”

Many experts and analysts have accused this anonymous trader of using insider information— a classic tactic in many pump and dump scams