Crypto Themed After Baby Hippo 'Moo Deng' Leaves Dogecoin, Shiba Inu In The Dust, Zooms 84% After Coinbase Announces Listing Plans

Benzinga

2024-12-03

Meme coin inspired by adorable baby hippo “Moo Deng” skyrocketed on Monday after America's largest cryptocurrency exchange Coinbase added it to its listing roadmap.

What happened: Moo Deng (MOODENG), based on Solana SOL/USD, pumped 84% in the last 24 hours, according to CoinMarketCap.

The coin's trading volume exploded 720% to $1.09 billion, while its market cap touched an all-time high of $660 million.

MOODENG resisted a broader drop in the meme coin market, with Dogecoin DOGE/USD and Shiba Inu SHIB/USD falling 7% and 5.58%, respectively, in the last 24 hours.

See Also: Tom Lee Predicts S&P 500 To Reach 6,300, Bitcoin To Break $100K By Year-End, Says Trump’s Tariffs Can Be Effective ‘Negotiating Tools’

The rally came after Coinbase announced that it would add the meme coin to its listing roadmap.

Assets added to the roadmap today: Moo Deng (MOODENG)https://t.co/rRB9d3hSr2
— Coinbase Assets 🛡️ (@CoinbaseAssets) December 2, 2024

An exchange listing helps boost the liquidity of a token and exposes it to a larger market. It also improves the coin's legitimacy, which would otherwise trade with less liquidity on decentralized markets.

The meme coin is themed around the viral baby hippo, who has been melting the hearts of social media users and attracting long queues at the Thailand Zoo where she is housed.

Price Action: At the time of writing, MOODENG was trading at $0.6191, up 88% in the last 24 hours, according to data from Benzinga Pro.

Read Next:

Bitcoin Miner CleanSpark Reports FY24 Earnings, Shares Climb

Market News and Data brought to you by Benzinga APIs

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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