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Cryptocurrency News Articles
Moo Deng Crypto: What Do You Get When You Combine Lower Interest Rates and a Viral Baby Pygmy Hippo?
Sep 28, 2024 at 01:48 am
Given the sudden popularity of Moo Deng, the Thai national treasure whose name roughly translates as “bouncy pork,” it was only a matter of time before someone turned her into a digital asset.
The surprising popularity of Moo Deng, the viral baby pygmy hippo, has inspired a new digital asset: Moo Deng crypto. Given the nature of memecoins, which have no underlying value and trade purely on vibes, it's no surprise Moo Deng Coin has shot up 1,400% since it was created less than three weeks ago. To be clear: This is an asset about as valuable as Beanie Babies were in the 1990s, though at least then you got to hold a Beanie Baby. Memecoins, no matter how cute, are not a smart financial play, even if one trader appears to have turned an $800 buy into $3.5 million. (It should be noted that crypto traders suspect this anonymous Moo Deng booster is an “insider,” since they bought the coin four hours after its creation, per the crypto news site Decrypt. And once that person sells their stake, the coin becomes as worthless on paper as it is in reality.) Moo Deng coin is just the latest product of a niche online culture that also birthed Dogecoin (created as a joke to dunk on bitcoin) and Shiba Inu coin (a joke to dunk on Dogecoin). Like any fun internet sensation, memecoins tend to have a short lifespan, soaring as their newnesses inspires FOMO in crypto traders and then cratering shortly after when early investors take their profits and bolt for the exit. Obviously, Moo Deng's unbearable cuteness is the driving force behind the new coin, which was up 90% over 24 hours on Friday, trading at about 25 cents a coin. But the Fed's super-sized rate cut last week, and signals of more cuts to come, are also powering a surge in crypto broadly, from the Moo Dengs to the more mainstream bitcoin and ethereum, as looser monetary policy tends to benefit high-risk assets like crypto. Bitcoin, the most popular crypto token, is up about 14% over the past week.
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- Pendle Crypto’s Biggest Cheerleader, Arthur Hayes, Just Sold Many of His Shares
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- Moo Deng Takes the Crypto Spotlight
- Sep 28, 2024 at 05:05 am
- According to recent data, the Solana-powered meme token moo deng (MOODENG) has jumped 98% in the past 24 hours and shot up a stunning 1,398% over the last week.
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- Bitcoin ETF Options: A Turning Point in Institutional Adoption
- Sep 28, 2024 at 05:05 am
- The SEC's decision to approve Bitcoin ETF options has long been awaited by market watchers. The move is expected to dramatically reshape how institutional investors approach Bitcoin.
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- Economist Godfred Bokpin Insists Ghana Gold Coin Not a Viable Solution to Cedi Depreciation
- Sep 28, 2024 at 05:05 am
- Economist Prof. Godfred Bokpin has stated that the Ghana Gold Coin is not a viable solution to the depreciation of the cedi. On Friday, the Bank of Ghana
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- Polygon (POL) Bulls Charge After Ahmedabad Hardfork, but Exchange Inflows Raise Caution
- Sep 28, 2024 at 04:45 am
- Polygon's [POL] recent upgrade, the Ahmedabad hardfork, is creating excitement as it successfully launched on the mainnet. With the implementation of
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- Popo (FROP) Token Launches on MEXC on September 30th: Here's What You Need to Know
- Sep 28, 2024 at 04:45 am
- Popo's goal is clear: to outperform Pepe. The new cryptocurrency, which will launch on September 30, wants to be the next major force in the crypto industry.
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- Stand With Crypto PAC Backs XRP Lawyer John Deaton in Massachusetts Senate Race
- Sep 28, 2024 at 04:45 am
- Deaton's legal battles with the SEC, especially his defense of the XRP community, have solidified his reputation as a key figure in the fight against