- Moodeng, the memecoin based on a viral Thai baby hippo, saw its market cap increase by 42.34% within 24 hours, ranking as the top gainer among the 500 top tokens.
- The Moodeng memecoin’s market cap touched $145 million, with 24-hour trading volumes exceeding $69 million.
- A trader turned $1,331 into $3.4 million in just 15 days by buying Moodeng at an early stage, earning a 2,554x return.
MooDeng, a new memecoin inspired by a Thai baby hippo, has quickly risen to become the top gainer among the top 500 cryptocurrencies. Its surge in popularity reveals how viral memes can drive crypto adoption and value.
MooDeng’s Meteoritic Price Rise
Within just 24 hours, MooDeng’s market capitalization has skyrocketed over 4000% to $145 million. Its trading volume has also spiked to over $69 million as investors flock to buy the hippo-themed memecoin.
MooDeng was launched just last week on the Solana blockchain and has already entered the top memecoin gainers list along with other animal-inspired cryptos like TOSHI, TRUMP, and MOTHER. The coin’s rapid rise shows the power of combining a viral meme with blockchain technology.
The Adorable Baby Hippo Behind the Hype
The MooDeng memecoin is inspired by a baby hippo born in July nicknamed “Moo Deng” in Thailand. Moo Deng translates to “bouncy pork” in Thai. Pictures and videos of the cute baby animal quickly went viral online this month.
Moo Deng’s popularity led to the creation of the memecoin that now bears her name. While other baby hippo siblings like Moo Waan and Moo Toon also got their own crypto tokens, none have seen the success of Moo Deng’s memecoin.
Early Investors Score Big Wins
Some investors who got in early on MooDeng have scored massive returns. One trader turned an investment of $133 into $3.4 million in just 15 days according to on-chain data – a 2554x gain.
However, the extremely swift gains have led to speculation of insider trading among early holders. On-chain analytics show some wallets scoring 1000x returns within hours, likely from insider allocations.
Attempts at Thai Memecoins Have Previously Flopped
Unlike Moo Deng, previous attempts at Thai-inspired memecoins have failed to take off. According to one University of Kasetsart professor, earlier Thai memecoins did not gain global traction.
Moo Deng has succeeded where others fell short by tapping into an already viral hippo meme. The hippo’s popularity extends beyond Thailand, with celebrities like UFC and DreamWorks capitalizing on the trend.
Conclusion
Moo Deng’s memecoin illustrates how the right viral meme can send a cryptocurrency soaring. While insider trading allegations have arisen, the project shows memecoins remain a powerful force in crypto. The Thai baby hippo’s continuing popularity suggests Moo Deng has room to run – or hop – even further.
