South Korea's largest cryptocurrency exchange, Upbit, announced the listing of MOODENG, a meme coin on the Solana network, scheduled for July 3, 2025.
Adding MOODENG to Upbit
Upbit announced the addition of the cryptocurrency **MOODENG** to its **KRW, BTC, and USDT** trading pairs, effective July 3, 2025. MOODENG is a meme coin built on the **Solana** network, inspired by a viral pygmy hippo from Thailand. This move aligns with Upbit's strategy to broaden cryptocurrency access in the country.
MOODENG Market Response
Following the announcement, MOODENG's price surged by over 50%, with reports noting a peak increase of 58.2%. Trading volume of MOODENG also skyrocketed, registering an increase of 53.51%, suggesting strong speculative interest from the market. While BTC, USDT, and SOL serve as base pairs, indirect effects remain minimal, with increased activity observed in the broader **Solana ecosystem**.
Lack of Regulatory Comments
The listing of MOODENG on Upbit has not yet received any official comments from South Korean regulators or crypto industry leaders. The absence of public reactions from key figures may impact perception and investor confidence. Community engagement, marked by active trading, underscores speculative market volatility. The long-term effects depend on continued engagement and subsequent price stability. Historical trends suggest that similar exchange listings foster brief surges that may be followed by market corrections.
The listing of MOODENG on Upbit marks a significant event in the crypto space; however, the future of the assets will rely on continued engagement and building investor trust.
