.svg)
This week, Moo Deng (MOODENG) is the top gainer token, skyrocketing by 2416.3% in price.
As of October 10, 2024, its value jumped from $0.0000005634 to $0.0002327 .
What caused the price surge?
4 factors seem to be fueling Moo Deng's popularity, such as:
1. Virality
Moo Deng was inspired by a cute baby hippo from Thailand that went viral on social media. The hippo, named “Moo Deng,” became famous after a zoo shared videos and pictures, leading to a wave of interest in the meme coin linked to it.
2. Vitalik’s involvement
Vitalik sold 10 billion Moo Deng tokens, worth over $800,000, and donated part of the money to charity. This caught the attention of traders, leading to a 400% price jump in just 24 hours.
3. Built on Solana
Moo Deng runs on the Solana blockchain, known for its fast transactions and low fees. This makes it easier and cheaper to trade, adding to the token's popularity.
4. Meme-coin hype
Meme coins like Moo Deng are part of a trend called the memecoin supercycle, where prices skyrocket due to online buzz and investor speculation.
Key stats (as of 10/10/2024):
- Price: $0.0002327
- Blockchain: Solana
- Market Cap: Over $300 million in just 15 days
- 24-Hour Trading Volume: $8,942,528
Is Moo Deng a good investment?
While Moo Deng’s price has shot up, meme coins can be risky. They often rely on social media hype, which means prices can drop just as fast.
It’s important to check tools like the Hype Score and Token Authenticity Score on mc².fi to see if the token’s growth is sustainable or if it’s starting to slow down.
Finding it complex? Here's a full on get-started-with-meme-coin-trading by our top trader!
