The inclusion of a new futures contract for the meme coin could attract more investors interested in quick trades.
This Friday (25), the meme coin Moo Deng (MOODENG), created on the Solana blockchain, experienced a 90% appreciation. This significant jump in value occurred after Binance launched a new trading option for the token: perpetual contracts.
With the introduction of this contract, users will be able to trade MOODENG at dollar parity and access leverage, which has attracted the market and increased trading volume.
This new trading format has the potential to expand interest in the coin, catching the attention of traders looking for quick gains.
Inspired by a meme that became popular on social media, MOODENG was created in honor of a baby hippopotamus named Moo Deng, who lives at the Bangkok Zoo in Thailand. The animal became an internet sensation and captivated millions of people around the world.
Since its launch, the digital currency has already registered an appreciation of over 1,000%, demonstrating the potential popularity that memes can bring to the crypto universe.
MOODENGUSDT Perpetual Contract Allows Up to 75x Leverage on Binance
Binance announced this Friday (10/25) the introduction of the MOODENGUSDT perpetual contract, with trading available from 7 am (Brasília time) and leverage of up to 75 times.
The contract is pegged to the Moo Deng meme coin, with a variable funding rate between +2.00% and -2.00%, as well as a tick increment of 0.00001 MOODENG. The contract address has been disclosed to ensure transparency for investors.
Following the platform's guidelines, the perpetual contract may involve adjustments in rates, margins and leverage, according to market conditions and the level of risk.
With the news, the market reacted quickly: the value of the MOODENG meme coin rose almost 100%, reaching US$ 0.1388, while the trading volume grew 141% in the last 24 hours.
