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Cryptocurrency News Articles
Solana Memecoin Dubbed Mae Moo Deng ($JONA) Crashes Over 95% After Thai Zoo Corrects Mama Hippo’s Name
Sep 28, 2024 at 07:21 am
JONA was launched over a week ago. The price rallied by 11,164% from the opening price of $0.00005197 to an all-time high of $0.005854
A Solana memecoin, dubbed Mae Moo Deng ($JONA), which was thought to have been coined after the mother to now-trending baby hippo MOODENG, has crashed by over 90%.
Launched over a week ago, JONA was priced at $0.00005197 at launch. The token rallied an impressive 11,164% to reach an all-time high of $0.005854, according to data from Dexscreener. At its peak, the token had a market cap of nearly $6 million.
However, the gains were short-lived after a Thai zoo, where MOODENG and the mama hippo are kept, revealed that JONA is the wrong name.
The zoo clarified that the mama hippo's name is “JONAH,” not “JONA,” which sent the token's price crashing.
According to Dexscreener, JONA is currently down over 95% from the ATH. There is now just about $68,000 in liquidity locked, with the market cap at around $227k.
Some people have accused the Thai zoo of possible market manipulation, as there already existed a “JONAH” meme token, also coined after MOODENG's mama hippo.
A fucking zoo in Thailand is doing MARKET MANIPULATION pic.twitter.com/Q2zfeIigNh
— ram (@0xRamonos) September 27, 2024
The $JONAH token was launched at about the same time as the other. However, it only began to rally after the zoo's tweet. JONAH is up over 1,000% in the 24-hour timeframe, with a market cap of $1.8 million.
The new hippo meme trend began with MOODENG, the baby hippo, which was reported to be the largest 24hr gainer on Thursday, with a market cap of $145 million, Cryptopolitan reported.
At the time of writing, MOODENG has an even higher market cap of over $271 million, with reports of early buyers now holding millions of gains.
Earlier today, Lookonchain reported on a trader who turned $1,331 to over $9.5 million from buying MOODENG.
Turned $1,331 into over $9.5M in only 16 days, a 7,140x return! #MOODENG
This guy spent 9.8 $SOL($1,331) to buy 38.7M $MOODENG on Sept 10 and sold 104K $MOODENG for 112 $SOL($17.9K)today, leaving 38.64M $MOODENG, worth more than $9.5M!https://t.co/gCR15Bjrcc pic.twitter.com/gaMG0BvKdB
— Lookonchain (@lookonchain) September 27, 2024
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