- HOGE token price is above the $0.000045 bullish point of interest.
- The price has declined 32.91% during the weekly session.
- Technical summary suggested a positive signal in the current trading phase.
Hoge Finance (HOGE) is a community-driven decentralized finance (DeFi) auto-staking ERC-20 token. It was launched as a deflationary asset. HOGE is one of the first DeFi meme coins to complete a Certik audit, with no critical, major, or medium findings found. The HOGE token is available for trading in exchanges like PancakeSwap (V2), Uniswap (V2), Gate.io, etc.
Hoge Finance Returned 303% During the Six-Month Session
HOGE price has experienced bullish sentiments since September 2023. The price gave positive returns for the four consecutive weeks till December 2023. However, it faced a major drawback in January 2024, with a decline of over 40%.
Subsequently, the price started a quick recovery in February 2024. It surged 29% from the $0.000017 support level. Especially the price witnessed a massive rally in the current month. It moved almost 200% in a single month.
The fully diluted market capitalization of Hoge Finance is $18 Million, which is also the current market capitalization. The HOGE has released its maximum supply of 394 Billion HOGEs, making it more trustable because of its deflationary model.
Price to Volume and Social Volume Analysis
The price gained positive attraction from February 14. After that, the social volume also increased within the timeframe of 4 to 5 days. It has reached almost 18.56 points, and the volume remain constant till the end of February 2024.
At present, the HOGE 24-hour volume is $48,733 while observing a decline of 12.61%. The volume ranked 3545th out of 9,072 active cryptocurrencies. The volume-to-market cap ratio is 0.25%, which is very low, according to technicals.
Technical Analysis of the HOGE Token Price
The 50 and the 200-Day EMAs were close to a golden crossover. However, the price is still above both the EMAs, reflecting uncertainty in the current trading phase.
HOGE token price has given a breakout at $0.000021 from a trendline forming below on February 16. It surged almost 270% from that specific level, making it a strong demand zone. Current price is looking for a decent correction on the $0.000039 POI.
The price can break above the $0.000076 resistance level if it sustains above the $0.000045 decisional point of interest.
The relative strength index (RSI) reflected an internal bearish divergence in the momentum. It indicates that the current price faces more selling pressure than its counterpart. RSI is moving at 57.21 below the signal line.
Summary
The Hoge Finance (HOGE) is a community-driven ERC-20 token. The meme coin is making its way out in the web3 world. It shows its deflationary nature, which is gaining investors’ trust. Technical analysis suggests that HOGE price may take time to undergo a bullish correction, but it holds the potential to reclaim the $0.000076 level.
Technical Levels
- Resistance Levels: $0.000076 and $0.000085
- Support Levels: $0.000039 and $0.000032
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.