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MOODENG Token Price Surges on Binance Futures Listing
Price Surge and Trading Volume
MOODENG Price Skyrockets over 100%
In a significant development, the price of Moo Deng (MOODENG) witnessed a remarkable surge of more than 100% following the listing of the MOODENGUSDT USD-Margined perpetual contract on Binance Futures. This surge propelled the Solana-based meme coin from $0.074 to $0.168, showcasing a 107% increase in the past 24 hours.
Trading Volume Skyrockets
The trading volume for MOODENG experienced an exponential rise to $195 million on Friday, registering a substantial increase of over 180% in just one day. Such a surge in trading volume highlights a surge in market activity and heightened interest in the token.
Binance’s Activity with Meme Coins
Binance’s Listing Strategy
Binance has been actively listing various meme coins, such as Neiro (NEIRO), Turbo (TURBO), and Baby Doge Coin (1MBABYDOGE), to tap into the escalating enthusiasm for this cryptocurrency segment. Notably, Neiro witnessed a remarkable price surge of 688% shortly after its introduction.
GOAT Listing and Price Surge
The listing of MOODENG closely follows the addition of Goatseus Maximus (GOAT), another Solana-based AI meme coin, on Binance Futures. Post the announcement, GOAT’s market capitalization soared to $860 million, with its price surging by 69% over the week to reach $0.87.
MOODENG Token Details
Origin and Popularity
The MOODENG token draws inspiration from a viral baby hippo named Moo Deng from Thailand’s Khao Kheow Open Zoo. Garnering a market cap exceeding $300 million, the token gained rapid traction owing to the hippo’s internet renown.
Community-Driven Initiative
The MOODENG project operates as a community-driven initiative, primarily engaging with users through social media platforms. Demonstrating support for Moo Deng, the team pledged to donate all trading fees generated through the Moonshot app to the Khao Kheow Open Zoo.
Cautious Investment Approach
Risk of Volatility
While MOODENG has displayed significant price surges, with reports of over 1,400% growth since its inception, investors are advised to exercise caution. The token’s value is speculative and heavily influenced by market sentiments, common characteristics of meme coins known for their high volatility.
The information in the article is for informational purposes only. It does not constitute any investment advice. The author and CryptoBlockNews.com are not responsible for your profits or losses arising from your investments. Investment is ultimately based on many foundations such as knowledge, accumulation, experience, research and personal decisions.
