Moo Deng (MOODENG) leads the latest crypto rally, topping the market with over $1B in daily trading volume.
MOODENG, a cryptocurrency from Solana, is the leader of the cryptocurrency rally
MOODENG experienced a significant increase in popularity following its introduction in September 2024, as it capitalized on the viral appeal of a baby pygmy hippo. Due to the internet hype, its market capitalization exceeded $100 million within weeks of its introduction.
Nevertheless, MOODENG experienced a protracted decline following its all-time high (ATH) in November. Its market capitalization had plummeted to approximately $20 million by early April.
Currently, the meme coin is reappearing significantly. MOODENG’s price has increased by 612.3% over the past week, as BeInCrypto data indicates. This increase has been facilitated by consecutive price increases since last Thursday.
Additionally, MOODENG has experienced a 104.3% increase in the past day. It was trading at $0.24 at the time of publication, its highest price in more than four months.
Due to this sudden price increase, MOODENG has become the most prominent token on CoinGecko. Additionally, it has occupied the highest position on the top gainer chart.
The market capitalization once again surpassed $100 million due to the price increase. It was $263.8 million as of the most recent data. The surge has elicited substantial investor interest, as demonstrated by the rise in trading activity.
MOODENG’s daily trading volume increased by an astonishing 325.8% to $1.2 billion, as indicated by CoinGecko data. Notably, Coinbase accounted for 27% of the total volume, suggesting merchants in the United States were actively involved.
Solscan’s on-chain analytics further emphasizes this trend. By press time, the total buy volume on decentralized exchanges (DEXs) had increased by 8,201% week-over-week, from $179,490 to $14.9 million.
The token’s allure has expanded beyond retail investors to include “smart money.” On May 10, these strategic investors contributed $194,000 to MOODENG, as indicated by a post on X by StalkHQ. This investment served to bolster the company’s momentum.
“165 new wallets have accumulated 25% of the supply of MOODENG and have a cumulative unrealized PNL $25.3 million,” HolderScan posted.
The token’s recent listing on Binance Alpha coincided with its meteoric ascent. The listing has sparked substantial interest among retail investors.
The data from Google Trends indicated a concurrent increase in public curiosity. The search interest in “MOODENG” has been consistently increasing over the past week and reached a peak score of 100 earlier today. This suggested that there was an increase in online attention and that there was another surge of viral momentum.
