🚀 Moo Deng Token Sees Remarkable Growth 🚀
The Moo Deng (MOODENG) token, a widely recognized memecoin operating on the Solana blockchain, has experienced an astonishing increase of over 120% in its value after Coinbase announced plans to add it to its listing roadmap. This surge highlights ongoing interest and activity in the memecoin market.
In fact, over the past month, MOODENG has catapulted by 303%. Similar to numerous other meme tokens, MOODENG showcases a strong upward trend, benefiting from the overall bullish market sentiment. Data from CoinGecko reveals a swift rise in value from $0.29 to $0.61 within a short hour following the announcement on Monday. The token didn’t stop there—its ascent continued throughout the day, reaching a peak of $0.65. By the time of this report, MOODENG was trading around $0.61, marking an increase of over 90% in just the past 24 hours.
📈 Future Price Enhancements Might Occur 📈
The addition of a token to Coinbase’s roadmap signifies that the platform is contemplating incorporating it into its trading offerings. Before Moo Deng, Coinbase had included various prominent memecoins like Pepe (PEPE) and Floki Inu (FLOKI) on its roadmap, eventually leading to their official listings.
For instance, Coinbase made a formal announcement regarding Pepe’s support on November 13. Following this news, the token’s value surged by 88%, climbing from $0.00001297 to $0.00002438, as documented by CoinGecko. It has since stabilized around the $0.00002 mark.
Following the announcement of a potential listing on Coinbase, Moo Deng’s market capitalization saw a significant boost. On Monday, it achieved a market valuation of $630 million, positioning it as the eighth-largest memecoin within the Solana ecosystem.
Although MOODENG’s inclusion on Coinbase’s roadmap indicates that it is being reviewed for a future listing, no definitive date has been provided yet.
Earlier, the token had already soared close to 100% when it secured a listing for a USD-margined perpetual contract on Binance back on October 25. When prominent exchanges like Binance and Coinbase suggest or confirm listings, it tends to drive considerable interest and trading momentum among crypto enthusiasts.
Additionally, Kraken, another major exchange, has included MOODENG in its listing roadmap. Alongside MOODENG, Kraken mentioned a few other memecoins such as Peanut the Squirrel (PNUT), Neiro (NEIRO), Fwog (FWOG), MAGA (TRUMP), and Dogs (DOGS).
Launched on Pump.fun, the leading memecoin launchpad within the Solana network, MOODENG draws inspiration from Moo Deng, a baby pygmy hippopotamus residing in Thailand’s Khao Kheow Open Zoo. The token captures the playful essence and viral charm associated with its real-world counterpart, successfully fostering a dedicated community.
In homage to its namesake, the Moo Deng team has pledged to donate all trading fees collected via the Moonshot application to the Khao Kheow Open Zoo.
Since its introduction, MOODENG has skyrocketed approximately 3,400% from its initial value of $0.018 in September. Like many other memecoins, MOODENG’s worth remains highly influenced by market dynamics. It’s prudent for investors to stay cautious, as the volatility typical of memecoins can lead to unpredictable price fluctuations.
🤝 Coinbase Expands Memecoin Offerings Amid Regulatory Changes 🤝
Recently, Coinbase has been intensively evaluating listings for various memecoins, a strategic shift notably perceived in light of the incoming Trump administration. This has stirred considerable excitement within the crypto community.
In an interview with Bloomberg, Tom Duff Gordon, Coinbase’s Vice President for International Policy, mentioned that the exchange is optimistic about expanding investment opportunities for its users, especially concerning smaller projects and memecoins.
With the anticipation of a Trump presidency, the exchange believes it may encounter a more favorable regulatory setting for cryptocurrencies. This change could enable Coinbase to consider tokens that were previously sidelined due to regulatory issues.
The sentiments regarding potential regulatory shifts are widespread. For example, Robinhood Crypto, which has traditionally been conservative with its memecoin listings, has recently started supporting tokens like Pepe and Dogwifhat (WIF). There’s also speculation surrounding the possible addition of Bonk (BONK) following WIF’s recent inclusion.
🔥 Hot Take: The Future for Memecoins Looks Bright 🔥
This year has the potential to be eventful for memecoins as exchanges like Coinbase and Kraken actively pursue new listings. The overall enthusiasm surrounding tokens like Moo Deng reflects broader market trends, indicating that the appetite for these playful digital assets remains strong in the ever-evolving crypto landscape.
As you navigate the fluctuations in the memecoin sector, make wise choices and stay informed. The unpredictability can lead to unexpected developments, and maintaining an analytical perspective will serve you well in your crypto journey.
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