TLDR MOOMOO THE BULL fell 17.43% over the last 24h, underperforming the broader crypto market (-1.38%). This sharp reversal contrasts with its 30-day rally (+230.28%) and aligns with technical resistance. Here are the main factors:
- Post-Migration Selloff – Profit-taking after LBank’s token migration completion on August 7
- Technical Breakdown – Price fell below critical Fibonacci support at $0.00727
- Elevated Volatility – 24h trading volume surged 93% to $1.36M
Deep Dive
1. Post-Migration Selloff (Bearish Impact)
Overview: LBank completed MOOMOO’s 1:1 token migration on August 7, 2025 (LBank). The price initially rallied 230% in July ahead of the upgrade but has since retraced 32% from its August 5 high of $0.0105.
What this means: Migration events often trigger “buy the rumor, sell the news” behavior. Early investors likely took profits after the technical transition concluded, creating downward pressure. The lack of immediate post-migration utility updates may have amplified selling.
What to look out for: New contract adoption metrics – only $1.36M in 24h volume suggests liquidity remains concentrated on LBank.
2. Technical Breakdown (Mixed Impact)
Overview: MOOMOO broke below the 38.2% Fibonacci retracement level ($0.00727) – a key support zone from its July-August rally. The 7-day SMA ($0.0089) now acts as overhead resistance.
What this means: Technical traders may interpret this breakdown as confirmation of a bearish trend reversal. However, the RSI (54) shows no oversold conditions yet, leaving room for further downside.
What to look out for: A close above $0.00727 could signal short-term recovery, while sustained trading below $0.007 might target the 50% Fib level at $0.00588.
Conclusion
MOOMOO’s decline reflects profit-taking after its migration-driven rally, compounded by technical selling below critical support. While the token retains 230% monthly gains, traders should monitor whether LBank liquidity recovers post-migration and if new exchange listings materialize.
Key watch: Can MOOMOO stabilize above its 30-day EMA ($0.00626) to prevent a deeper correction?