Moo Deng (MOODENG), a Solana-based meme coin, has emerged because the frontrunner within the cryptocurrency market’s newest rally, outperforming the highest 1000 cryptocurrencies over the previous day. Its each day buying and selling quantity has soared previous $1 billion.
The meme coin has additionally skilled a outstanding worth improve. Over the previous week, its worth has skyrocketed by triple digits.
Solana’s MOODENG Leads the Crypto Rally
MOODENG, capitalizing on the viral enchantment of a child pygmy hippo, surged considerably after its launch in September 2024. The web hype propelled its market capitalization over $100 million simply weeks after its launch.
Nonetheless, after peaking at an all-time excessive (ATH) in November, MOODENG entered a protracted decline. By early April, its market cap had plunged to round $20 million.
Now, the meme coin seems to be staging a robust comeback. BeInCrypto knowledge confirmed that MOODENG’s worth appreciated by 612.3% over the previous week, bolstered by consecutive worth pumps since final Thursday.
Furthermore, MOODENG has surged by 104.3% over the previous day alone. At press time, it traded at $0.24, marking its highest worth in over 4 months.
This explosive worth motion has made MOODENG the highest trending token on CoinGecko. Furthermore, it has topped the highest gainer chart.
As a result of worth rise, the market capitalization additionally moved previous the $100 million mark once more. As of the most recent knowledge, it stood at $263.8 million. The surge has sparked important investor curiosity, as evidenced by elevated buying and selling exercise.
In keeping with knowledge from CoinGecko, MOODENG’s each day buying and selling quantity reached $1.2 billion, marking a staggering 325.8% improve. Notably, Coinbase accounted for 27% of the overall quantity, indicating sturdy participation from US-based merchants.
On-chain analytics from Solscan additional underscore this development. The overall purchase quantity on decentralized exchanges (DEXs) skyrocketed by 8,201% week-over-week, climbing from $179,490 to $14.9 million by press time.
The token’s enchantment has prolonged past retail traders to “good cash.” In keeping with a submit on X by StalkHQ, these strategic traders poured $194,000 into MOODENG on Might 10, additional fueling its momentum.
“165 new wallets have gathered 25% of the provision of MOODENG and have a cumulative unrealized PNL $25.3 million,” HolderScan posted.
The token’s meteoric rise comes amid its latest itemizing on Binance Alpha. The itemizing seems to have catalyzed important retail investor curiosity.
Google Traits knowledge mirrored a parallel surge in public curiosity. Search curiosity for “MOODENG” has been rising steadily over the previous week and reached a peak rating of 100 earlier at present. This indicated rising on-line consideration and urged one other wave of viral momentum.
Disclaimer
In adherence to the Belief Venture tips, BeInCrypto is dedicated to unbiased, clear reporting. This information article goals to supply correct, well timed info. Nonetheless, readers are suggested to confirm information independently and seek the advice of with knowledgeable earlier than making any choices primarily based on this content material. Please word that our Phrases and Circumstances, Privateness Coverage, and Disclaimers have been up to date.