The viral pygmy hippo, Moo Deng, has taken over the crypto market with a meme coin of the same name called MOODENG. It is based on the Solana blockchain and was launched on September 10, 2024, through the "pump.fun" meme coin factory.
It is quite similar to popular ones like the Elon Musk-endorsed Dogecoin. It is driven by hype and popularity of the meme in the community and takes advantage of the same to fuel public engagement and cumulative trading.
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The rising popularity of Moo Deng has only strengthened the presence of the meme coin in the crypto community. As of the writing, it is valued at over $0.1355 for each unit and boasts a total market cap of $134,096,282.
People can trade MOODENG tokens through centralized crypto exchanges, such as - MEXC, XT.COM, and Deepcoin. The current trading volume of the meme coin is over $89,953,176 and signals a recent fall in its market activity.
All you need to know about Moo Deng meme coin
The trading value of the Moo Deng meme coin (MOODENG) reached an all-time high on September 28, 2024. At that time, the Solona blockchain ecosystem-based meme coin was traded at over $0.3387. The growing crypto is currently being traded at a price that is almost 59.93% lower than the all-time high.
The all-time low price of MOODENG was recorded on September 20, 2024, when it was valued at over $0.01545 for each unit. As of the writing, the current value of the meme coin has seen an increase of over 778.71% from the all-time low price.
An anonymous trader has reportedly made over $7.5 million from trading the Moo Deng meme coins. While the identity of the trader is yet to be confirmed, they are rumored to have started investing in the meme coin with a mere sum of over $800.
The Moo Deng meme coin is a perfect example of the modern currency fusing pop culture and the global crypto scene. Paying homage to the pygmy hippo that started it all, profits from the meme coin traded on the Moonshot app will go to the Khao Kheow Open Zoo.
The charitable twist on the meme coin has helped pool investors who want to make it big while still giving back to the community. To keep the crypto continuously relevant, MOODENG has created a playbook featuring all the 989,971,791 tokens present in the market.
The non-stop engagement involves multiple community rewards and helps boost the marketing engines while still increasing liquidity and keeping investors hooked.
The Moo Deng meme coin also inspired official merch, including mugs, hip pants, and funky shirts. The coin seems to be standing out pretty strongly in the crypto community and has been attracting investors from across the globe. However, like all cryptos, it cannot be considered a 100% safe investment.
People are advised to do proper research and consult industry professionals before they decide to invest in MOODENG or other cryptos.
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