Key Highlights
- MOODENG price surged by 66% following Coinbase’s listing announcement.
- Coinbase, a prominent US-based crypto exchange, added MOODENG to its listing roadmap.
- Moo Deng’s price rise coincided with a broader uptrend in the token market.
Moo Deng’s Meteoric Rise
Moo Deng, a meme coin built on Solana that gained popularity due to a baby hippo in Thailand, witnessed a significant price surge after a major update from Coinbase.
On December 2, Coinbase revealed its decision to include Moo Deng (MOODENG) in its listing plans. This announcement led to a remarkable 66% spike in MOODENG’s price as the community celebrated the news.
Currently, Moo Deng is trading around $0.5993, marking a substantial increase from its previous level of $0.29. The addition of MOODENG to Coinbase’s platform played a crucial role in this surge, propelling the meme coin to the top ranks among the 100 largest coins by market cap.
Market Analysis
The recent gains have allowed MOODENG to reclaim its value from November 18, reversing the dip that followed its peak at $0.6804. The current prices indicate that the meme coin is only 12% away from its all-time high reached on November 15, 2024.
While meme coins experienced a slowdown amid Bitcoin’s climb towards $100k and XRP’s surge, analysts remain optimistic about the market’s overall performance. Meme coins, including MOODENG, are poised to participate in a potential supercycle.
In October, Binance introduced MOODENG futures, leading to another price spike as the market responded positively to the news.
