|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Moo Deng Surges 500% as Degens Target the Next $1B Meme Coin
Oct 04, 2024 at 09:48 pm
Moo Deng, a Solana-based meme coin inspired by a pygmy hippopotamus of the same name, has surged by 500%. With its market cap already around the $200 million mark, many are wondering if it will become the next $1 billion meme coin.
A Solana-based meme coin named Moo Deng, inspired by a viral pygmy hippopotamus, has surged by 500%, leading many to speculate on its potential to become the next $1 billion meme coin. However, a closer examination of the token's fundamentals reveals a different story.
Moo Deng, a baby hippo born in Thailand, captured people's attention with his antics, which were live-streamed 24/7 by Khao Kheow Zoo. The animal's popularity soared, prompting some fans to create a meme coin named Moo Deng on the Solana blockchain.
Launched on September 22nd, 2024, Moo Deng initially received a lukewarm reaction from the community. However, MOODENG’s price action began to surge on September 27th, leading to a price increase of more than 600% before a correction occurred.
Moo Deng entered Raydium, a decentralized exchange for Solana-based tokens, where it traded around the $0.03 level. Over the next four days, MOODENG’s price hovered around the $0.05 mark.
On September 27th, the token began to gain momentum, establishing an uptrend that lasted until September 29th, pushing the Moo Deng price up by 10x.
In addition to the animal’s inherent virality, the token’s listing on cryptocurrency exchanges like KuCoin and MEXC contributed to its growth. However, the listing pumps didn't last long, as Moo Deng retraced after reaching its peak of $0.30. At the time of writing, it is trading at around $0.18, having lost more than 40% of its value.
Moo Deng surged due to the baby hippo going viral, with much of its popularity driven by adoration from international audiences. It is evident that the token was created to capitalize on this viral momentum. Even though the official fan page states that all profits generated will be donated to Khao Kheow Zoo, early investors have started to exit quickly.
The token’s RSI is trending downward, currently at 46, while the MACD indicators are also moving into negative territory. Given this trend, it seems unlikely that Moo Deng will become the next $1 billion crypto.
If Moo Deng is to reach a $1 billion market cap, its price would need to increase by 5x. Despite a flurry of memes and active engagement on the crypto’s official Twitter page, the token isn’t attracting many buyers.
To prevent its value from dropping further, introducing new use cases could be key. Even social use cases that allow users to interact with Moo Deng (the baby hippo) could help attract more buyers and sustain the token’s momentum over a long term.
Investors Should be Looking at More Utility-Centric Meme Coins
Moo Deng’s surge shows that degens are still active in the market. However, due to the lack of use cases, there is little long-term incentive to invest in this meme coin.
Crypto All-Stars and Pepe Unchained, on the other hand, offer more potential as they focus on delivering real utility, making them better alternatives for those seeking a more sustainable investment.
Crypto All-Stars adds a unique MemeVault utility to its ecosystem. Essentially a staking pool for meme coins, this feature allows users to stake their top meme coins and earn significant rewards. This approach of unifying the meme coin community in a tangible way could lead to long-term benefits.
It can help bridge the gap between various meme coins, fostering a degen community where every meme coin investor has the potential to become wealthy through staking.
Additionally, Crypto All-Stars features a pixelated aesthetic, showcasing top meme coin mascots in an 8-bit format, living inside a pixelated condo. This creates a game-like image, suggesting that, over time, Crypto All-Stars could leverage its MemeVault to develop a gamified ecosystem.
The token has received positive reviews from many influencers, including ClayBro, who stated that the current ecosystem will attract more people to meme coins, potentially allowing Crypto All-Stars to rise by 10x.
Crypto All-Stars has raised over $1.8 million to date. Those wishing to invest can visit the official website to get started.
Visit Crypto All-Stars
While Moo Deng capitalizes on an animal’s virality to grow in value, Pepe Unchained leverages the enduring popularity of Pepe. As the first frog-themed token, Pepe sparked a meme coin mania in early 2023. Pepe Unchained (PEPU) describes itself as the natural evolution of that trend, offering an “unchained” version of the meme coin with faster transactions, lower fees, and double staking rewards.
It achieves this by developing a layer 2 blockchain, a first in the meme coin space. A meme coin-specific blockchain is unprecedented but opens up numerous
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.
-
- XRP Tests Key Support Level at $0.5080 as Whale Activity and Legal Developments Fuel Market Movements
- Oct 05, 2024 at 12:25 am
- XRP has recently experienced a significant drop below $0.5500, a development attributable to Ripple's ongoing legal battle with the U.S. Securities and Exchange Commission (SEC).
-
- Why SOL and KAS Investors Should Turn to This Hot New Meme Coin with 10,500% Upside Potential
- Oct 05, 2024 at 12:25 am
- Investors are buzzing about a fresh meme coin capturing attention with its remarkable growth potential. Promising impressive returns, this emerging digital currency is generating chatter among the crypto community.
-
- Sui (SUI) and Celestia (TIA) Risk Suffering a Short Squeeze as the Market Imbalance Appears
- Oct 05, 2024 at 12:25 am
- As October started, the cryptocurrency market faced a significant crash, increasing the bearish sentiment and attracting highly capitalized short-sellers. Some cryptocurrencies now risk suffering a short squeeze as imbalances appear in the market's open interest, dominated by short positions.
-
- The Bitcoin Situation May Improve in 6 to 12 Months
- Oct 05, 2024 at 12:25 am
- The price of Bitcoin has gone through some notable corrections since March. This has been influenced by a combination of significant sell-offs by whales and a massive token unlock that has increased the total supply of altcoins in the market.