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2024-12-02Coinbase includes Solana chain meme coin MOODENG in its coin listing roadmap
What is MOODENG?
In September, an ugly and cute hippopotamus, Moo Deng, went viral and made headlines in various media. The story happened in Khao Kheow, an open zoo in Thailand. Moo Deng, who was only two months old at the time, became a new social media darling because of his distinctive face and interesting videos.
The cryptocurrency world naturally joined in on this wave of popularity. The meme of the same name first appeared on Solana on September 11. Its market value has steadily increased in the week since its launch, reaching around 5M.
The second surge in trading volume of the Meme of the same name on Solana and Ethereum occurred on September 21. However, after this wave of gains, the token on Solana maintained its upward trend, while the growth trend of MOODENG on Ethereum was relatively slow.
Why did MOODENG surge?
Coinbase, the largest cryptocurrency exchange in the United States, has listed the popular Solana-based meme coin MOODENG. Like the previously added meme coins, the price of MooDeng soared after Coinbase’s announcement.
DEXScreener data shows that Moo Deng’s market value has increased by 50% in the past 24 hours.
Nearly three months ago, Moo Deng became a social media sensation on TikTok. The viral hippopotamus attracted attention, and Solana developers quickly created a token.
In two months and 21 days, the meme coin has reached a market cap of $555 million. MOODENG’s market cap peaked at over $700 million before falling back to current levels.
What will be the future direction of MOODENG?
1. Look at MooDengSOL’s usual meme techniques
I like to pull up quickly and then fall slowly in waves.
2. Check whether Binance spot is listed on Moo Deng
If it goes up, it may pull another wave
3. Moodeng prefers to ask the small agency to take over
So I went to Xiao Suo, and when I posted meme pictures every day
May be of concern
I personally think that MOO DENG may have room for growth, but the risk is high.
First, the market makers have not yet shipped the stocks.
Second, Binance has not yet listed/taken over the spot market. According to history, MOO DENG is heading for the route to go up.
Third, although it is a BTC bull market, the Shanzhai seems to have risen recently, but the animal meme has performed generally recently. In other words, I don’t think there is a lot of real community funds flowing into MOO DENG this time, but more speculators. In addition, it prefers to fall slowly after a fast rise, so the risk is relatively high.
Personal analysis is for reference only!