MOCA token soars on holiday giveaway, forms bullish pattern hinting at a new all-time high

The MOCA token, the native token of Moca Network, has surged by over 15% today thanks to a holiday giveaway announcement by Animoca founder Yat Siu.

This surge, coupled with a promising technical pattern, positions MOCA for a potential breakout to a new all-time high, reflecting growing investor confidence and interest in the Web3 space.

What is MOCA token?

MOCA token is the native currency of the Moca Network, a blockchain platform developed by Animoca Brands, one of the leading players in the cryptocurrency industry.

The network powers the Mocaverse, an ambitious initiative aimed at creating the largest on-chain cultural economy.

Built on the robust LayerZero v2 protocol, the Moca Network spans diverse industries, including music, gaming, and education.

At its core, the Moca Network empowers users by enabling control over digital identities, data monetization, and seamless interaction across Web2 and Web3 platforms.

The MOCA token facilitates these activities, serving as a payment medium and covering transaction fees within the ecosystem.

MOCA token signals a potential breakout to new ATH

MOCA token hit its all-time high (ATH) of $0.43252 on December 16, following its listing on Binance Futures and major South Korean exchanges like Upbit and Bithumb.

These listings amplified market visibility, driving a substantial increase in trading activity across platforms such as Bybit, Bitget, and Kucoin.

However, after the surge, the token entered into a correction hitting a low of $0.124948 on December 18, before resuming its bullish trend only to face a strong resistance at the $0.29 level.

Today, the token is firing on all cylinders after Yat Siu announced the start of his two-stage holiday giveaway rewarding early engagers of his earlier post announcing the purchase of his first 88 NFTs on Moca Network.

Initially, Siu had set a condition of 2,000 retweets for the giveaway to kickstart but going by his announcement today, the giveaway will kick off without the 2,000 retweets being met.

As part of the Holiday Celebrations I will be giving away the rewards of the initial claim $MOCA tokens from the below in 2 stages. Technically the conditions were not met (2000 RTs) but we have a lot to celebrate since the @MOCAFoundation@Moca_Network launch. Thank you fam!

4:54 AM · Dec 23, 2024 Read 79 replies

In the first stage of the giveaway, Siu will “be rewarding initial post engagers and the $MOCA fam.”

He is yet to decide the conditions for the second stage and participants are welcome to give suggestions.

Replying to @ysiu

1st stage will be rewarding initial post engagers and the $MOCA fam and am considering the 2nd stage for community engagement. Open to suggestions what kind of activation I should do for Part 2!

4:54 AM · Dec 23, 2024 Read 41 replies

Siu’s decision to reward early post-engagers and foster community involvement ignited renewed excitement, pushing MOCA’s price up 15%.

This momentum underscores strong market confidence and the community’s enthusiasm for the Moca Network’s vision.

Currently trading at $0.29099 on BYBIT, the MOCA token has formed a bullish technical pattern known as a cup and handle, with the shoulder positioned around $0.29.

Source: TradingView

This setup, combined with robust network developments and strategic giveaways, suggests MOCA is well-positioned for further growth, capturing the attention of both retail and institutional investors.

If the price breaks out from this formation, it could trigger a retest of its ATH, potentially resulting in a 48% price increase.

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