With up to 75x leverage, Binance Futures launched the MOODENGUSDT Perpetual Contract one hour ago. Traders' interest has surged greatly as a result of this development, and investors are rushing to profit on the momentum.
Binance Futures introduced the MOODENGUSDT Perpetual Contract an hour ago with up to 75x leverage. This development has sparked a surge in traders’ interest, with investors looking to capitalize on the momentum.
MOODENG Surges Rapidly in Price and Trading Volume
After the contract went live, the price of MOODENG has surged by a massive 122.20%, rallying to $0.1484 in the last 24 hours. It also saw a rapid increase in trading volume by over 208%, reaching $222.94 million. This surge in demand is evident especially in the futures market.
Popular on Solana, MOODENG is a memecoin with a unique backstory inspired by a beloved hippopotamus image from Thailand. Being a meme coin, it is a highly volatile yet attractive asset that has become a primary focus of speculative trading.
Binance’s listing of the perpetual contract, which provides an avenue for high-leverage trading, further contributes to its surge. The introduction of the futures contract brings the token into the spotlight, generating even more buzz among both retail and institutional traders.
In other news, one interesting story related to MOODENG involves a trader who reportedly turned 6 SOL (around $815 at the time) into an incredible $9.4 million, according to CNF. With an astonishing 11,534x return, this success story highlights MOODENG’s capability to generate life-changing wealth. Being a meme token, it is not surprising that traders are eager to replicate similar magnitudes of increase, hence this achievement goes unnoticed.
Another significant event that impacted MOODENG’s price was the sale of airdropped MOODENG coins by Vitalik Buterin, the founder of Ethereum. Following his token sale, the token surged by 480%, which increased market activity and fueled speculation among investors.
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