Moo Deng (MOODENG) price witnessed an impressive rally throughout September, becoming a must-watch token in the crypto space. However, towards the end of the month, the altcoin’s fortunes turned, and it began a steep decline. 

As of this week, Moo Deng has become one of the biggest losers, with its price crashing by nearly 60%. Investors are now left wondering what led to this drastic drop.

Moo Deng Investors’ Mood Has Been Ruined

The market sentiment for Moo Deng has shifted sharply. After reaching an all-time high of $0.355, investor optimism quickly faded. The weighted sentiment, which gauges overall investor mood, has turned negative, signaling reduced confidence in the token’s recovery.

As sentiment declines, so does the chance of a swift rebound. The decreasing enthusiasm has led to lower trading volumes, worsening the price drop. Without renewed buyer interest, the coin’s recovery appears uncertain, raising further concerns among its backers.

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On the technical front, Moo Deng’s momentum has also turned decisively to the bearish side. The Relative Strength Index (RSI) has fallen below the critical neutral line of 50.0, a sign that the buying pressure is weak and that bearish momentum has taken over.

The drop in RSI from bullish to bearish reflects the broader market trend for Moo Deng. With the momentum favoring sellers, the coin is likely to experience more downward pressure in the near term. This could potentially drive the price even lower if the bearish conditions persist.

MOODENG Price Prediction: The Hippo Is in Danger

Moo Deng’s price has plummeted by nearly 60% over the last seven days, currently trading at $0.132. For now, the meme coin is managing to hold above the crucial support level of $0.124, but this stability may not last long.

Given the negative market sentiment and bearish technical indicators, Moo Deng’s price could potentially drop below $0.124. If this support fails to hold, the meme coin will slide further, testing the next critical support at $0.099.

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However, there is still a possibility of recovery. If Moo Deng price manages to bounce off the $0.124 support, it could initiate a rise towards $0.180. Breaching this level would invalidate the bearish outlook and push the coin closer to $0.200, recovering some of its recent losses.

Stablecoin issuer Tether is celebrating its 10th anniversary along with the success of its flagship product, USDT.

As part of the anniversary celebration, Tether released a documentary highlighting how USDT has helped users in countries like Argentina and Brazil navigate currency inflation.

Tether Celebrates 10 Years of Bringing ‘Financial Inclusion’ to Billions

In an October 6 statement, Tether CEO Paolo Ardoino reflected on the company’s progress since its inception. He highlighted Tether’s mission to provide financial access to millions, especially in regions lacking traditional banking services.

Tether’s primary product, USDT, a stablecoin pegged to the US dollar, has grown indispensable to global users. Ardoino revealed that Tether has added “tens of millions” of new wallets each quarter, with a user base now reaching hundreds of millions.

“Our focus has always been (and will always be) the last mile. Rich people have already tens of ways to transact and store wealth. We build financial tech for the people left behind,” Ardoino stated.

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Over the past decade, USDT has grown to become the third-largest cryptocurrency by market cap, trailing only Bitcoin and Ethereum. DeFillama data shows that the asset has a market capitalization of nearly $120 million, controlling around 69% of the stablecoin market.

Despite its achievements, USDT has encountered regulatory hurdles and concerns over its reserves. Over the past months, several European exchanges have hinted at delisting the stablecoin, citing non-compliance with the region’s Markets in Crypto-Assets (MiCA) regulation.

However, Tether is reportedly working on a new technological solution tailored for the European market. This signals its efforts to adjust to evolving regulatory demands around the globe.

Read more: 9 Best Crypto Wallets to Store Tether (USDT)

Meanwhile, Tether is also diversifying beyond its stablecoin operations. The company has ventured into sectors such as telecommunications, artificial intelligence, education, and energy.

Earlier this year, it launched four new divisions — Data, Finance, Power, and Education — to drive its vision of future-ready financial systems. These moves have been accompanied by significant investments in these industries.

“Tether has become a symbol of disintermediation, resilience and stability. From Financial tools (stablecoins) to tele-communications (keet), from Artificial Intelligence to unstoppable education and energy, we believe in the importance of empowering people, communities, cities and entire countries,” Ardoino stated.

SUI price has been experiencing an upward trend recently, making it a potential contender for reaching a new all-time high (ATH). However, shifting investor sentiment suggests that the altcoin may struggle to achieve this milestone. 

Despite its recent gains, SUI’s momentum appears to be faltering as technical indicators show signs of an upcoming market shift.

SUI Gains Unlikely

One of the main concerns for SUI’s price action is the tightening of the Bollinger Bands, which signals an impending volatility squeeze. A squeeze occurs when the Bollinger Bands narrow, typically followed by a sharp price movement, either up or down. The significant drop in trading volume further confirms that a squeeze is likely approaching. 

This upcoming squeeze could lead to heightened volatility for SUI, and while there is a possibility for a rally, it could just as easily result in a price drop. The lack of volume shows that investor activity is waning, which may mean a lack of sufficient support for pushing the altcoin to a new ATH.

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SUI’s macro momentum also presents some concerns. The moving Average Convergence Divergence (MACD) indicator is showing early signs of a bearish crossover, a pattern that typically signals a trend reversal towards the downside. This is particularly notable because it would be the first bearish MACD crossover in nearly a month for SUI, suggesting that the volatility from the squeeze might favor the bears.

With this bearish crossover, it becomes more likely that SUI’s price will face pressure to decline. This adds weight to the argument that SUI may not be ready to form a new ATH in the near term. The confluence of technical indicators is hinting at a potential reversal that investors should be cautious of.

SUI Price Prediction: Loss Ahead

SUI’s price is currently hovering at $1.74, just above the critical support level of $1.70. If the support is lost, the altcoin could fall further, leading to a larger price drop.

Given the current technical indicators, a decline to $1.45 is plausible, and if investors start selling, this drawdown could extend to $1.16. Such a move would further diminish the chances of SUI hitting a new ATH anytime soon.

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However, if the broader market shows bullish strength and manages to overpower the current bearish sentiment, SUI could rise to $2.18. Breaching this level would invalidate the bearish outlook and set the stage for SUI to form a new all-time high.