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Viral internet sensation Moo Deng – a two-month-old pygmy hippo born at Khao Kheow Open Zoo in Thailand – became the latest internet meme to take the crypto market by storm in late September 2024.
On September 27, 2024, a Solana-based memecoin called Moo Deng (MOODENG) surged over 88% as crypto traders rushed to capitalize on the market exuberance.
Success stories of MOODENG traders are circulating on X, with one trader turning $800 into $1.3 million in just over two weeks.
Do you fear missing out on the MOODENG gains? In this article, Techopedia explains everything you need to know about the Solana memecoin.
What Is Moo Deng Memecoin?
Source: CoinMarketCap
MOODENG is a Solana-based memecoin inspired by a viral baby hippo internet meme. The MOODENG token was created on memecoin trading and minting platform Pump.fun on September 10, 2024.
The inspiration behind the memecoin is a female pygmy hippo named Moo Deng who lives in a zoo in Thailand. Her name was chosen via an online poll held on the zoo’s Facebook page. About 20,000 voters chose the name “Moo Deng” which translates to “bouncy pork,” according to The New York Times.
Moo Deng rose to internet stardom after her zookeeper Atthapon Nundee began sharing the pygmy hippo’s day-to-day activities on social media.
Netizens who found Moo Deng’s activities and tantrums adorable began creating and sharing fan art and memes. By the tender age of two months, the chubby hippo was an internet sensation with a crypto token associated with her name.
As of September 27, 2024, the MOODENG memecoin has amassed a market cap of nearly $200 million, making it the 252nd largest cryptocurrency in the world, according to CoinMarketCap data.
My favriote thing about every Moo Deng video is how the adult hippos are so incredibly unbothered at all times pic.twitter.com/OlDkHHTA9J
— Nature is Amazing ?? (@AMAZlNGNATURE) September 20, 2024
MOODENG Tokenomics
It can be difficult for crypto traders to identify viral memecoins like MOONDENG as copycats tokens tend to emerge quickly. Studying the tokenomics of a memecoin can help you identify the token you want to trade or invest in.
Here are the tokenomics and other important details of Solana-based MOONDENG which was the first Moo Deng-inspired crypto to exist in the market:
| Metric | Stat |
|---|---|
| Name | Moo Deng |
| Ticker | MOODENG |
| Created | September 10, 2024 |
| Blockchain | Solana |
| Max supply | 989,968,838.56 |
| Circulating supply | 989,968,838.56 |
| Token address | ED5nyyWEzpPPiWimP8vYm7sD7TD3LAt3Q3gRTWHzPJBY |
| Market cap (As of September 27, 2024) | ~ $200 million |
| Holders (As of September 27, 2024) | 20,729 |
| X handle | @MooDengSOL |
Gmoodeng!
This week, we’ve witnessed remarkable growth in both the token and our community here on X. A huge thank you to everyone for the fantastic memes and to @skultdao for the wonderful art. We have officially crossed:
– 40k followers on twitter
– Featured on @nytimes and… pic.twitter.com/VZZrrtR5Qf— Moo Deng | Fan Page (@MooDengSOL) September 25, 2024
Moo Deng Crypto News: “Insiders” Reap Rewards
MOODENG memecoin caught the investor eye when onchain analytics sites like Arkham Intelligence reported on September 17, 2024 that the top holder of MOODENG turned $800 (or 6 SOL) into $400,000 in seven days.
On September 23, 2024, Arkham reported that the trader’s MOODENG holdings value rose further to a whopping $1.3 million.
However, crypto enthusiasts on X were convinced that the top MOODENG trader was an “insider.”
“Stop calling insiders traders,” wrote pseudonymous user Bitcoin General.
“Insider is not a trader but how awesome would be to track this things on Arkham and not on Solscan or other platforms,” added Crypto Analytica.
TRADER TURNS $800 INTO $3.5M
The trader who purchased $800 of MOO DENG 4 hours after launch has doubled again. He is now worth $3.5M, as the Thai baby hippo continues to go viral on X.
He still hasn't sold anything yet.
Will he ever sell? https://t.co/CzTdVqmANA pic.twitter.com/zxlsXPjRId
— Arkham (@ArkhamIntel) September 26, 2024
In other Moo Deng crypto news, several centralized crypto exchanges including Gate.io and Kucoin have listed the viral memecoin on their platform, as of September 27, 2024.
Elsewhere, copycat Moo Deng memecoins were trading on Ethereum, Base L2, and other blockchains.
Moo Deng Crypto Price Analysis: Will MOODENG Price Rise?
Data sourced from Solana-based decentralized exchange (DEX) Raydium showed MOODENG debuted at about $0.00001 on September 10, 2024.
Since then MOODENG has gained as much as 3,000,000% to an all-time high of about $0.3, Raydium market data on September 27, 2024, showed.
The chances of Moo Deng memecoin price increasing further remain high if the token gets listed on popular crypto exchanges like Binance, Kraken, Coinbase, and OKX.
If we are to look at how the NEIRO memecoin surged over 800% after listing on Binance in mid-September, our MOODENG price prediction does not seem too farfetched.
However, readers have to note that there is no guarantee that a crypto exchange will list a token based solely on its market popularity.
Furthermore, crypto investors should also note that centralized crypto exchanges have the liberty to choose which version of a memecoin to list on its platform.
When the NEIRO memecoin was listed on Binance, the crypto community was left confused because the crypto exchange listed two different versions of the NEIRO token – one for spot trading and another for futures contract trading.
The outlook for Moo Deng memecoin also depends on the longevity and popularity of its meme.
As memecoins cannot be evaluated using traditional finance metrics, the popularity of a meme can weigh heavily in deciding whether its memecoin stays relevant in an everchanging market.
Where to Buy Moo Deng Crypto Memecoin?
- At the time of writing, you can buy the Moo Deng memecoin on several centralized crypto exchanges including Kucoin, HTX, MEXC, Bitget, BitMart, LBank, XT.COM, OrangeX, CoinEx, and Deepcoin.
- You can also buy the Moo Deng memecoin on Solana-based decentralized exchanges such as Raydium, Meteora VD and Orca.
Always verify the memecoin before investing.
The Bottom Line
The crypto memecoin market never fails to amuse. Moo Deng has followed in the footsteps of popular internet memes such as Doge and Pepe the Frog to become a crypto icon.
If you are interested in investing in Moo Deng memecoin, note that cryptocurrencies are highly volatile and risky assets. Most meme coin projects enjoy a short period of fame and may become irrelevant after the market loses interest in them.
