Skilled Cryptocurrency Trader Makes a $392,200 Profit by Investing Early in MOODENG Meme Coin

A skilled cryptocurrency trader has reportedly made a substantial profit of $392,200 by investing early in MOODENG/USD, a meme coin inspired by Moo Deng

A cryptocurrency trader has made a substantial profit of $392,200 by investing early in a meme coin inspired by Moo Deng, the adorable baby hippo that has recently taken social media by storm.

The trader entered the MOODENG market when its capitalization was a mere $70,000, according to data from Lookonchain.

The investment has since skyrocketed as the token’s market cap surged to $244.3 million, according to data from Dexscreener at the time of writing.

MOODENG, a Solana-based token, has experienced a meteoric rise, mirroring the viral popularity of its namesake.

Moo Deng, a baby hippo residing in a Thailand zoo, has captured hearts worldwide with her cute mannerisms, drawing long queues of visitors and dominating social media feeds.

The cryptocurrency market, quick to capitalize on viral trends, has seen MOODENG's value increase dramatically.

The token is currently trading at $0.2483, up 86.42% in the last 24 hours. Its total trading volume is at $59.8 million, with a notably higher buy volume of $30.1 million compared to the sell volume of $29.8 million.

This surge aligns with the broader trend of meme coins gaining traction in the crypto space. MOODENG has outperformed many other tokens on Solana’s launchpad, Pump.Fun, boasting the highest 24-hour increase among its peers.

The same trader has also demonstrated success with other meme coins, pocketing over $300,000 with trades on little-known Solana meme coins PESTO and OMOCHI.

The news comes as meme coins are experiencing a resurgence, driven by Bitcoin hitting the $66,000 mark.