Moo Deng, a memecoin based on Solana, has shown impressive price growth over the past week with a 790% increase. This article examines key facts about the price, trading volumes, and the overall state of the memecoin market.
Price Dynamics and Trading Volumes
Currently, Moo Deng is trading at $0.2431, with a price increase of 323591.99% since early September 2024. The trading volume for Moo Deng reached $1.08 billion, with a 47.60% increase in the last 24 hours. Over the past day, the highest price was $0.2889, while the lowest was $0.1636. Earlier, within the month, the minimum price of the memecoin was $0.023.
Impact of Listings on Price Growth
Moo Deng memecoin is inspired by the Thailand viral pygmy hippo and has gained significant traction since its launch. Data indicates that the most traded pairs are Moo Deng/USD and MOODENG/USDT. Listings on well-known exchanges like Binance and Coinbase greatly enhanced MOODENG's accessibility and visibility. Binance’s listing on May 11, 2025, drove a 110% price gain in a single day, while Coinbase’s announcement to list MOODENG in December 2024 caused an 80% price spike in just one hour.
State of the Memecoin Market
As of now, the memecoin market capitalization stands at $76.32 billion, with a 7.21% increase in the past 24 hours and a 64.09% rise over the past month. The trading volume in the memecoin category surged around 5.64% intraday, with an overall volume increase of 364.77%. The long-standing memecoins market is led by AIC, PEPE, Moo Deng, Dogecoin, and Shiba Inu. The memecoin market is demonstrating steady growth amid the overall positive dynamics of the crypto market supported by rising prices of Ethereum and Bitcoin.
The growth of Moo Deng memecoin and its impact on the market illustrate steadily increasing interest in high-risk assets. However, there are risks of price manipulation, which may draw regulatory scrutiny due to potential violations.
