The Moo Deng meme coin, based on the Solana network, has surged by nearly 100% in the past 24 hours. This coin is inspired by the pygmy hippo Moo Deng, which recently became an internet sensation.
Moo Deng's Popularity
The pygmy hippo Khao Kheow Open Zoo, a massive zoo in Si Racha, Thailand, gained global popularity thanks to 31-year-old zookeeper Atthapon Nundee. For years, he posted adorable animals from his zoo on social media. His moment finally arrived earlier this year because of Moo Deng.
Meme Coin Market
Meme coin aficionados naturally decided to capitalize on the new meme sensation with the token. A trader, who some believe is an insider, managed to turn just $800 into millions of dollars by buying the meme coin. The market cap of the coin has already approached the $250 million mark following the recent price spike.
Future of the Meme Coin
Some pundits expect the meme coin to be just a flash in the pan, like some other celebrity meme coins that reached impressive market caps in early summer only to lose the vast majority of their value subsequently. The future of the meme coin will depend on whether Moo Deng will manage to sustain its popularity.
Only time will tell if Moo Deng will secure a lasting place in the meme coin market. Examples like Fiona, a river hippo from the Cincinnati Zoo that became a viral sensation in 2017, show that attracting visitors is possible even years later.
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