MOG Coin Surges Over 13% To Hit New All-Time High: What’s Happening?

MOG Coin (MOG) rose to the top of the gainers list on Monday after gaining around 35%. The coin was the third-best trading coin of the day while hitting an all-time high, which was helped by an upbeat momentum in the crypto market. At press time, the coin was trading at $0.000002079, up 13.64% compared to the last day.

MOG hits all-time high

The price of Mog Coin (MOG) increased by 35% on Monday, setting a new all-time high of $0.00000220. This fresh all-time high comes just days after the coin has hit its previous record on July 1.

The ATH level has doubled in value over the past three weeks as MOG has profited from the political unrest going on in the US. Consequently, the Open Interest has increased by 45% in a single day to $15.99 million.

Why is Mog Coin rising?

The news of an assassination attack on former US president Donald Trump heavily influenced crypto markets. The news of this attempt has garnered significant interest from the general public and the crypto community recently. There have been numerous accounts and memes about the amazing incident.

The MOG Coin team also posted the “Make America Mog Again” video as Donald Trump was evacuated and escorted by his security detail following an unsuccessful assassination attempt by an unidentified gunman. Still, the picture showed Trump sporting the iconic MOG coin eyewear.

Currently, Trump’s survival of the assassination attempt has increased the value of most significant cryptocurrencies. In this recent increase, MOG Coin has outperformed other meme coins and gained new attention despite being the 87th largest cryptocurrency by market valuation.

Additionally, as Bankless Times previously reported, Meme coins have seen a sudden market demand surge. As usual, Bitcoin still significantly impacts the whole cryptocurrency industry.

It has recovered remarkably from its $55,000 low. The most popular cryptocurrency’s movements frequently affect other meme coins. They often appreciate in tandem with Bitcoin. Furthermore, the market is neutral, as indicated by the Crypto Fear & Greed Index, which is now 52.

While there is some negativity in the market, it is not overwhelming. When opinion turns more neutral or optimistic, some investors see this as a chance to buy and expect a recovery. As market fear subsides, astute investors decide to rejoin the market. In the end, these two variables drive the current meme coin spike.