Following a brutal crash in early 2025, memecoin MOODENG has made a stunning comeback, riding the Binance Alpha listing wave to reclaim its bullish momentum.
Once considered a fading star in the memecoin universe, MOODENG has flipped the script in dramatic fashion. After plunging 97% from its all-time high of $0.70 in November 2024 to a low of just $0.02 in April 2025, the token has staged a jaw-dropping recovery. In the past week alone, it surged by over 600%, sparking renewed interest from traders and long-time holders.
The sudden surge wasn’t just market whimsy. The catalyst behind this powerful bounce was MOODENG’s listing announcement on Binance Alpha, which landed on May 11. As one of the leading launchpads for emerging tokens, Binance Alpha’s endorsement has historically been seen as a green light by investors, and MOODENG proved no exception.
Breaking Key Resistance Levels
From a technical viewpoint, the charts paint an increasingly bullish picture. MOODENG’s price action shows a clean breakout from a long-standing descending resistance trendline — a structure that had capped its growth since its 2024 peak. After the breakout, the coin pushed upward with impressive momentum and now hovers near the $0.32 horizontal resistance level — the final hurdle before retesting its all-time high.
Momentum indicators also favour further upside. The Relative Strength Index (RSI) remains in bullish territory, albeit approaching historically overheated levels. Meanwhile, the MACD continues to climb with widening histogram bars, reinforcing the current strength in buying pressure. However, with RSI near its peak, traders should remain cautious of a possible short-term cooldown.
Wave Count Hints at Extended Bull Run
Beyond traditional indicators, the Elliott Wave theory provides another layer of insight. MOODENG appears to be in the early stages of an extended wave three, following a 1-2/1-2 formation. If this wave count holds, the current rise may only be the beginning of a larger impulsive structure.
Short-term, a local top might be forming — which could trigger a minor retracement or consolidation. However, the structure implies that the third wave is far from over. Once the price manages to breach the $0.32 resistance, the next wave could validate that level as support before a final push toward price discovery and a potential new all-time high.
A parabolic support trendline can also be traced from MOODENG’s recent low, which may serve as a springboard for the anticipated wave four rebound and subsequent rally.
Long-Term Prospects Look Promising
Despite the volatile nature of memecoins, MOODENG’s recent behaviour defies the usual boom-and-bust pattern. Its ability to recover from near collapse and break through major resistance levels shows resilience and renewed market confidence. The Binance Alpha listing, combined with strong technical signals, provides a solid foundation for optimism — especially for those with a long-term outlook.
Of course, caution remains key. The memecoin sector is still driven heavily by sentiment, and sharp retracements are not out of the question. Yet, MOODENG’s chart structure and trading volume suggest that this recovery has legs. If it maintains current momentum and successfully flips $0.32 into support, a new all-time high could be closer than many expect.
