The meme tide is rising again. How to grab fish on the beach?
Internet celebrity animals have set off a new meme coin trend, and the ugly hippo Moo Deng has become one of the representatives. In just ten days, the meme coins related to Moo Deng have increased by a hundred times, showing the huge appeal of Internet celebrity animals in the currency circle. Today, the meme coin track is no longer limited to cats and dogs, but has expanded to Internet celebrity animals that have become popular because of their unique charm. These animals first accumulated a lot of popularity on social media, and then triggered a hype boom in the currency circle.
Looking back at the DOGE craze in 2021, it was the earliest wave of "zoo"-themed meme coins, and its market value once soared to US$88.79 billion. However, today's meme coin market is different from the past. The liquidity environment has changed, the targets of various chains are scattered, and the hype is disordered, making the market complex and difficult to understand. Many people miss the "dry goods" content of the crypto circle a few years ago, because at that time everyone had unique insights into different tracks and tokens, which could be converted into actual benefits. But now that the bull market is gone, the once effective investment logic has also failed. This is not only the case in the meme track, but also in the entire market.
Take Moo Deng as an example. This two-month-old hippopotamus born in the Khao Kheow Open Zoo in Thailand has quickly become a new darling of social media because of its funny appearance and interesting videos on TikTok and Instagram. Due to the high popularity, the zoo even had to limit the flow and strengthen security.
The cryptocurrency circle also caught this wave of enthusiasm. On September 11, the Solana chain launched a meme coin named after Moo Deng, and its market value rose steadily to US$5 million within a week. Immediately afterwards, on September 16, Binance launched the related currency Neiro, and Ethereum also launched the meme coin of the same name MOODENG. On September 18, LBank announced that it would launch MooDeng trading on September 21.
The spread effect of Moo Deng continues to ferment. On September 21, the Moo Deng meme coin on Solana and Ethereum ushered in the second wave of trading peaks, but the rise on Solana was stronger, with trading volume exceeding $100 million, while the trading volume of MOODENG on Ethereum was only $40 million.
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