Flamengo Fan Token (MENGO)
1. Fundamental Analysis
1.1 Introduce
Your voice heard, your passion recognized.Influence your team, play exclusive games & win once in a life-time experiences,all from one app.
1.2 Basic Info
| Name | Value | Name | Value |
|---|---|---|---|
| Symbol | MENGO | Market Cap | 1938731.68 |
| Name | Flamengo Fan Token | White Paper | -- |
| Web Site | https://socios.com/ | Is ICO | None |
| Wallet | -- | Raised Funds | - |
| Source | -- | Distribution | - |
| Explorer | https://scan.chiliz.com/ | Algorithm | -- |
| Forum | -- | Proof | -- |
| Mining | Total | 30000000 | |
| Supply | 30000000 | Release Date | |
| Available Supply | 6826520 |
2. Technical Analysis
2.1 Kline Chart
2.2 Analysis
The market shows a clear downtrend from mid December 2024 with a noticeable high point around 0.37-0.38 which it failed to sustain. A sharp decline in price occurred, with several days of significant volume suggesting strong selling pressure. The price fluctuated significantly in the first half of December, followed by a more consistent downward pattern. A potential support level around 0.28 was tested multiple times towards the end of December. There was a very slight recovery at the end of December, and on the last day shown, a slight increase in price and volume was observed potentially indicating an attempt to test its resilience around the 0.28 price zone. However this attempt appears to be weak as it failed to close above 0.29 with very low volume the following day. The subsequent extremely low volume and lower closing price on January 01 2025 indicates a continuation of the bearish trend or a period of indecision. Given the recent trend and volume activity the market sentiment is bearish. Short term traders should consider selling positions considering the downward trend. There is a lack of clear signs of a reversal in price so downward momentum is still expected. The substantial drop in volume on 2025-01-01 may signify that the bearish pressure is exhausted temporarily but no bullish signal is present. Longer term investors should closely monitor upcoming price actions for an established bottom and possible accumulation of positions when bearish pressure eases. Based on the trend it could be wise to adopt a waiting strategy for now and only enter the market at a clearer signal of trend reversal.
