Buterin adopts baby hippo, Moo Deng, triggering a 70% spike in the MOODENG token price.
A 10M THB donation to Khao Kheow Zoo fuels increased interest in the MOODENG meme token.
Trading volume for MOODENG surges 428%, with futures open interest hitting $115.42 million.
Vitalik Buterin, the co-founder of Ethereum, has finally taken in Moo Deng, a baby pygmy hippopotamus, at the Khao Kheow Open Zoo in Thailand. This decision on December 26th led to a sudden increase in the MOODENG meme token price. The token’s price rallied by nearly 70% within an hour, pointing to a rising demand among the members of the crypto space.
Generous Donation to Zoo
Buterin adopted Moo Deng through the zoo’s Wildlife Sponsorship Program, which permits people to support endangered animals. Buterin expressed his happiness at becoming Moo Deng’s adoptive parent.
He also promised to donate 10 million THB to the zoo to enhance its conservation activities as well. The donation will be divided into two parts: 5 million THB will be transferred the same day of the announcement, and the other 5 million within one year.
Within the first hour of the announcement, MOODENG’s price rose by 70%, to $0.0002446 from its initial price of $0.0001206. As of press time, the token is valued at $0.0001843, a 44.27% increase in the last 24 hours. This price rise happened alongside a 428.44% rise in trading volume, which is a sign of market activity and increased investors’ attention to the token.
Futures Market Growth
Besides the price increase, MOODENG’s rally also extended to the derivatives market. Trading volume in MOODENG futures rose by 9% in just four hours, with the total open contract value hitting $115.42 million. This growth is attributed to increased understanding of MOODENG as a meme coin that is slowly gaining more value in the investment market.
Buterin has always supported charity and has often donated Ethereum and other meme coins to charitable organizations. His support for the MOODENG token aligns with his past endeavors, in which he used blockchain to promote social causes.
MOODENG is gradually being adopted and the token lies between a cryptocurrency and a charity organization. This increase demonstrates the increasing interest of the blockchain in philanthropy and how crypto can further enhance social change.
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