|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Moo Deng: Fringe Cryptocurrency Inspired by a Viral Hippo Shoots Up in Price by Nearly a Million Percent
Oct 10, 2024 at 03:05 pm
The so-called memecoin was created shortly after the baby hippo gained online fame when the Khao Kheow Open Zoo in Thailand posted pictures of the “bouncy pig” to Facebook.
A cryptocurrency that was inspired by a viral hippo has seen a massive surge in price, rising by nearly a million per cent.
The token, called Moodeng, is named after a two-month-old pygmy hippopotamus that became an internet sensation after the Khao Kheow Open Zoo in Thailand shared photos of the "bouncy pig" on Facebook.
According to Decrypt, one crypto trader was able to turn an $800 investment in Moodeng into $7.5 million, highlighting the astronomical gains that can be realized in the world of memecoins.
The recent surge in memecoin prices has coincided with statements from investors about the arrival of "meme season," with several memecoins reaching all-time highs in recent days.
Popcat, a crypto project inspired by a viral cat named Oatmeal, also saw a record high on Monday, rising to $1.45 after starting the year at less than 1 cent. Some traders have even called for a "memecoin supercycle."
After reaching a peak price towards the end of September, Moodeng's price had declined, but it began to rally again on Monday.
This latest surge came after Ethereum co-founder Vitalik Buterin disclosed that he had sold 10 billion Moodeng tokens, valued at over $800,000, and donated a portion to an anti-airborne-disease charity.
Memecoins are often gifted to Buterin during the launch of new projects, and he typically donates them to charity. In this case, his specific mention of Moodeng following his latest donation led to a surge of nearly 400 per cent in the token's price within 24 hours.
"I appreciate all the memecoins that donate portions of their supply directly to charity," Buterin wrote in a post to X on Monday.
"Anything that gets sent to me gets donated to charity too (thanks moodeng! The 10B from today is going to anti-airborne-disease tech), though I truly prefer if you guys send to charity directly, maybe even make a DAO and get your community directly engaged in the decisions and process.
"I've said before that I think the best thing for memecoins is if they can be maximally positive-sum for the world, so it's great to see moments when that actually happens!"
Meanwhile, the broader crypto market has remained relatively stable, with a total market cap that has hovered between $2 trillion and $2.25 trillion over the past month.
However, it is still significantly below the record high of nearly $3 trillion that was reached in 2021.
Among the top memecoins, Dogecoin, which remains the world's most valuable memecoin after more than a decade, has also seen stable performance, trading around the $0.10 level since early August.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Bitcoin Upside Limited by Massive Capital Inflows Requirement
- Oct 10, 2024 at 06:25 pm
- As the trailblazer, Bitcoin is firmly placed at the top of the crypto ranks. Bitcoin shot more than 30% higher at the start of 2024, establishing a new all-time high of $73,750 in march. However, it has been trading sideways for the rest of the year.
-
- Binance Launches MKD (Macedonian Denar) Trading Zone on Binance P2P and Announces New Trading Promotion
- Oct 10, 2024 at 06:25 pm
- Binance is pleased to announce that the MKD (Macedonian Denar) Trading Zone is now available on Binance P2P and we are excited to launch a new trading promotion for both new and existing P2P users.
-
- Cardano (ADA): Analysis and Price Forecast
- Oct 10, 2024 at 06:25 pm
- The Cardano blockchain has just hosted the launch of the first legally recognized smart contract by the courts in Argentina. This is a turning point for the adoption of cryptographic technology in the country as it introduces a new fully legal trading system.
-
- HBO’s “Money Electric: The Bitcoin Mystery” Sparked Widespread Attention, But Ultimately Fell Short of Delivering the Promised Revelation
- Oct 10, 2024 at 06:25 pm
- The documentary claimed to reveal the true identity of Bitcoin's mysterious creator, Satoshi Nakamoto. The creators centered on Peter Todd, often considered a prominent figure in the Bitcoin community, suggesting that Todd might be the elusive Nakamoto.