The token's trading volume increased to $195 million.
Key Takeaways
- MOODENG's price increased by 100% following Binance Futures announcement.
- The token previously reached a market cap of $300 million, inspired by a viral baby hippo.
The price of Moo Deng (MOODENG) has rallied over 100%, from $0.074 to $0.168, minutes after Binance Futures announced the listing of MOODENGUSDT USD-Margined perpetual contract today, CoinGecko data shows. At the time of writing, the Solana-based meme coin traded at $0.15, up around 107% over the past 24 hours and 40% in a week.
Trading volume for MOODENG also hit $195 million on Friday, up over 180% in the last 24 hours. High volumes indicate increased market activity.
Binance has recently listed several meme coins, including Neiro (NEIRO), Turbo (TURBO), and Baby Doge Coin (1MBABYDOGE), to capitalize on the growing interestin this segment. These listings have already sparked notable price movements, with Neiro experiencing a sharp increase of 688% shortly after its launch.
The listing of MOODENG on Binance Futures comes just a day after Goatseus Maximus (GOAT), a Solana-based AI meme coin recently gaining attention from crypto community members, was listed on Binance Futures.
GOAT’s market value skyrocketed to $860 million following Binance Futures’ announcement. Over the past week, its price has soared by 69%, hitting a peak of $0.87, CoinGecko data shows.
What is Moo Deng?
Making its debut on the popular Pump.Fun platform, the MOODENG token is inspired by a viral baby hippo named Moo Deng from Thailand’s Khao Kheow Open Zoo. The token has swiftly gained popularity, with its market cap exceeding $300 million.
MOODENG’s success is mainly influenced by baby hippo’s internet fame. The project is community-driven and primarily thrives on social media engagement.
Moo Deng’s team also shows their support for the project’s inspiration. They will give the Khao Kheow Open Zoo 100% of the trading fees using the Moonshot app.
While the token has seen significant price increases—reportedly climbing over 1,400% since its launch—its value remains speculative and heavily influenced by market sentiment.
As with many meme coins, potential investors are advised to exercise caution due to the volatility associated with these crypto assets.