MOCA Token Rises 20% Following Animoca Brands Holiday Giveaway Announcement
The price of Moca Coin #MOCA, the primary token of the Mocaverse blockchain ecosystem, increased by 20% in the past 24 hours. This rise follows Animoca Brands founder Yat Siu’s announcement of a two-stage holiday giveaway.
This initiative, announced on Monday, celebrates the successful launch of the Moca Network and aims to reward loyal community members. The first stage targets individuals who engaged with Siu's July X post about the giveaway. The second stage invites community suggestions for engaging activities.
The crypto community has shown strong support, with numerous users expressing that the MOCA token is undervalued and has significant growth potential.
Siu’s actions reflect Mocaverse’s broader vision: connecting Web2 and Web3 ecosystems by allowing users to manage their digital identities and monetize their data.
MOCA Price Surge
The giveaway has heightened interest in MOCA, which launched in April via MocaList. The token's current trading value is $0.3076, contributing to a 288% monthly increase.
According to CoinMarketCap, MOCA’s market cap is $480 million, having grown fivefold in the past month. It ranks as the 214th largest cryptocurrency.
MOCA experienced a 370% rise last week after being listed on Binance and South Korean exchanges Upbit and Bithumb, reaching an all-time high of $0.4261. After a brief rally, it stabilized around $0.12 before its recent surge.
Technical indicators suggest a potential near-term correction. TradingView indicates an RSI value of 77, signaling that the altcoin is overbought, which increases the likelihood of a correction. Additionally, the downward trend of the RSI line suggests a pause in the upward momentum.
Market attention may increase on December 27, when 692,000 MOCA coins are set to unlock. Although this is a small portion of the total supply, token unlock events can affect short-term sentiment.
The Mocaverse ecosystem continues evolving with the latest upgrade, Moca 3.0, which enhances user control over digital identities, data monetization, and cross-platform interactions. Siu noted MOCA's potential to facilitate mass Web3 adoption, supported by plans for the company to go public in Hong Kong or the Middle East by early 2025.
MOCA’s price trajectory reflects the ongoing development of the Moca Network, with the token serving as a crucial utility within the decentralized ecosystem.