What Is Moo Deng Coin? Everything You Need to Know Aabout the Baby Hippo Memecoin

Moo Deng, a cute two-month-old pygmy hippo who has wowed the internet with her lively actions and sweet expressions, has inspired a meme coin. A cryptocurrency user recently claimed to have become a multimillionaire in just 17 days after investing Rs 1 lakh in the newly created Moo Deng joke coin. Taking to X, user Lookonchain, an account that routinely shares blockchain updates, tweeted a screenshot of a cryptocurrency user investing $1,300 (roughly Rs 1 lakh) in Moodeng coins on September 10. A few days later, when the meme coin’s price skyrocketed, their investment was worth more over $12 million. Thus, within 17 days, the crypto user’s Rs 1 lakh investment had grown to more than 100 crore, according to the post.

Who Is Moodeng?

In the same subculture that gave birth to Dogecoin—a playful spin on Bitcoin—and Shiba Inu coin—also a spin on Dogecoin—Moodeng coin is the newest addition to the cryptocurrency scene. The two-month-old pygmy hippo known as Moo Deng has become an internet phenomenon due to her adorable behaviors and playful smiles. To honor her, Moodeng coin was produced. Just a few weeks ago, videos of Moo Deng having fun at a zoo in Chon Buri, Thailand, were popular on social media sites like TikTok and Instagram.

An homage to a popular delicacy, the name ‘Moo Deng’ means “bouncy pork” in Thai. According to The Guardian, 20,000 people cast ballots for this name in August, and it was ultimately picked. However, Moo Deng’s charisma has been a major factor in the coin’s popularity, unlike most memecoins that disappear as soon as their subjects do. Thanks in significant part to the hippo’s viral video popularity, the value of Moodeng currency jumped 90% in just one day on September 27, according to CNN.

What is Moodeng Coin? 

Meme coins are a kind of cryptocurrency that take its names from popular internet art and memes, typically including animals. In light of the baby hippo’s meteoric rise to fame due to her endearingly diminutive stature and endearingly lively videos, the Moodeng currency was born. Moo Deng, like Doge Coin and other meme coins, has no foundation in reality. But among meme coins, Moodeng coin stands head and shoulders above the others. Reportedly, its price is about double that of Dogecoin.

Fortune reports that since its inception on September 10, the price of the Moodeng cryptocurrency has increased by more than 1,400%. Nevertheless, Moodeng’s value could plummet at any moment, according to investors.

Is Moo Deng Crypto a Good Investment?

That being said, be not deceived. The trade of meme coins is fraught with uncertainty, according to Coinbase. The Moo Deng coin’s value increased by 65% in the nine days following the investor’s million-dollar payout, according to Watcher.guru.

Instantaneously, cryptocurrency prices can rise and fall. If Elon Musk were to mention it, the value could skyrocket or plummet in an instant. Since meme coins are based on trends, their value is highly unpredictable. No matter how endearing, “meme coins are not a smart financial play,” the CNN piece argues. “Memecoins, like any other temporary online craze, skyrocket when their novelty causes crypto traders to experience fear of missing out (FOMO), and then plummet when early investors cash out.”

A more prudent course of action for anyone looking to invest in the Moo Deng coin could be to simply visit the pygmy hippos, purchase merchandise from the Khao Kheow Zoo, and then resale it.

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Recent Updates

The price of Moo Deng rises 70% after the Coinbase listing plan

Within one day of Coinbase’s announcement, the price of Moo Deng (MOODENG) jumped 70.31 percent, reaching $0.6123. As a result of Coinbase’s prominence as a trading platform, market enthusiasm has surged, leading to the dramatic growth.

Moo Deng’s trading activity also saw a significant increase. In the same time frame, the token’s trading volume increased to $751 million, a 400% increase. This increase shows that traders are very active and that investor interest is at an all-time high.

Be advised that although Moo Deng is on the exchange’s roadmap, trading and transfers of the token will not be enabled until the official listing is published. This procedure guarantees that all necessary technical and regulatory preparations for asset integration have been made.

Solana is a well-known, efficient, and scalable blockchain that the Moo Deng meme coin uses. At the same time, the leading exchange added QCAD, an Ethereum blockchain ERC-20 token, to its roadmap.

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BTCC Guide:

• How to Trade Crypto Futures Contracts on BTCC
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• What is Crypto Futures Trading – Beginner’s Guide
• What is Leverage in Cryptocurrency? How Can I Trade at 100X Leverage?
• BTCC Review 2024: Best Crypto Futures Exchange

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