Moo Deng Meme Coin Rises After Man Fined for Coming into Viral Pygmy Hippo's Den – Decrypt

The Solana meme coin impressed by viral pygmy hippo Moo Deng (MOODENG) is up 6.5% within the final 24 hours amid information {that a} man that intruded on the animal’s enclosure has been fined for the act. 

The person, who was reportedly fined $300 for unlawfully coming into the world, was discovered responsible by an area Thai court docket after being arrested in March. 

In a video shared following the arrest, a male may be seen hopping a fence on the Khao Kheow Open Zoo when no employees had been round Moo Deng’s quarters. He holds what seems to be an iPad or an analogous pill in hand, earlier than approaching Moo Deng whereas recording a video.

The stunt has led to elevated safety measures on the zoo in line with its director Narongwit Chodchoy, who advised AFP that it’s going to “have to coach [staff] on what to do if there are any intruders.”

“We discovered from this lesson and won’t enable it to occur once more—to not Moo Deng and to not different animals within the zoo,” he mentioned. The viral pygmy hippo was not harmed throughout the stunt, however was “barely startled” in line with the report. 

Moo Deng rose to recognition in early 2024, rapidly changing into a viral sensation on social media for its playful antics. Round that point, a meme coin celebrating the hippo was launched by way of common token launchpad Pump.enjoyable, and shortly thereafter gained traction. 

In November of that 12 months, the token surged to an all-time excessive round $0.68, or a couple of $680 million market cap. Whereas the excessive was short-lived, the token maintained relevancy for some time longer, finally incomes listings from all the main centralized exchanges, together with Coinbase, which spiked the token value by 80% in December of that 12 months.

Since that point, although, it’s largely been caught in a downward spiral, just lately altering fingers round $0.048, or a couple of $48 million market cap—almost 93% off its all-time excessive. Mainstream media consideration, just like the current report from the AFP, usually present a burst of life to meme cash, that are tokens which are typically primarily based on common tradition and occasions and don’t have any actual utility.

For instance, the value of MOODENG surged round 33% when the zoo introduced plans for a primary celebration final July. 

Nevertheless, the token’s newest surge additionally comes amid enhancing macroeconomic circumstances, highlighted by the late Tuesday conditional ceasefire in Iran, avoiding a probably huge assault teased by U.S. President Donald Trump. Since that point, all crypto property have surged, led by Bitcoin and Ethereum leaping 4.2% and 6.3% respectively within the final day.

Meme cash as an entire have underperformed the majors, although, leaping simply 3.6% within the final 24 hours in line with CoinGecko.