MOODENG, a Solana meme coin, surged by 652.8% over a 12-day interval. The MOODENG price elevated from roughly $0.03981 to $0.29966, primarily based on the chart knowledge ending at 22:31:47 UTC.
The most recent excessive marks the token’s strongest price stage in not less than 4 months, and probably since its all-time excessive in November 2024. The sharp rally started in late April and accelerated in early Might.
The price breakout was accompanied by robust quantity, which peaked above $522 million throughout the rally. The steep rise additionally pushed MOODENG properly above its 200-day transferring common, suggesting a reversal from its earlier downtrend.
MOODENG Trading Quantity Nears $1B With U.S. Merchants Main Exercise
As of Might 11, the MOODENG token recorded a 24-hour buying and selling quantity of $998.52 million, in response to market knowledge. This marked a major spike in each day exercise and positioned the Solana-based meme coin among the many most traded property available in the market.
Coinbase accounted for 27% of this quantity, suggesting a powerful stage of engagement from U.S.-based traders. Different centralized exchanges and decentralized platforms contributed the remaining share, indicating large distribution throughout buying and selling venues.
The spike in quantity accompanied a pointy price rally and renewed curiosity within the token. This rise additionally coincided with MOODENG topping CoinGecko’s trending and gainer charts throughout the identical interval.
Market Cap Matches Totally Diluted Valuation at Over $305 Million
The MOODENG market capitalization reached $305.28 million, now equaling its totally diluted valuation (FDV). The 1:1 ratio is as a result of total token provide being in circulation.
The venture experiences a circulating provide of 989,971,791 tokens, which can also be the whole and max provide. This implies no extra MOODENG tokens stay to be unlocked or distributed.
As a result of the availability is totally launched, market individuals are pricing the whole valuation primarily based on the present price, with no inflation threat from future emissions.
On-Chain Exercise Reveals Good Cash Getting into MOODENG
Information from Solscan confirmed that decentralized change (DEX) purchase quantity for MOODENG elevated 8,201% in a single week. The amount moved from $179,490 to $14.9 million as of Might 11.
Based on a submit by StalkHQ on X, sensible cash wallets bought $194,000 price of MOODENG on Might 10. These addresses are sometimes linked to knowledgeable or strategic traders.
HolderScan reported that 165 wallets now management 25% of the whole MOODENG token provide. These wallets have a mixed unrealized revenue of $25.3 million, primarily based on present costs.
Coinbase Exercise Aligns With MOODENG Worth Surge and International Search Spike
MOODENG price actions gained momentum starting Might 9, coinciding with elevated visibility throughout main platforms. Coinbase dealt with 27% of the token’s $998.5 million buying and selling quantity on Might 11, reflecting concentrated U.S. curiosity. This exercise positioned Coinbase as one of many largest contributors to MOODENG’s market publicity.
Alongside Coinbase flows, the MOODENG itemizing on Binance Alpha additional broadened the token’s attain, permitting entry for a wider international viewers. These change appearances aligned with sharp price will increase and heightened buying and selling exercise.
Search developments adopted the same trajectory. Google Traits knowledge confirmed that curiosity in “MOODENG” reached its most rating of 100 on Might 12. The surge was not restricted to at least one area. Excessive search volumes had been recorded in the US, India, and elements of Southeast Asia, suggesting rising retail engagement throughout a number of markets.
The mix of centralized change listings, constant price development, and search momentum positioned MOODENG as some of the seen property throughout the second week of Might.
What Is MOODENG Coin?
MOODENG is a meme coin constructed on the Solana blockchain, launched on September 11, 2024. It’s primarily based on the real-life story of Moo Deng, a child pygmy hippopotamus born in July 2024 at Khao Kheow Open Zoo in Thailand. Moo Deng went viral on social media after movies of her playful conduct gained consideration, resulting in the creation of the MOODENG token.
The coin has a hard and fast provide of 989.97 million tokens and operates with 0% purchase and promote tax. This makes it accessible to merchants who need to keep away from transaction charges. As well as, the venture staff donates 100% of buying and selling charges collected on the Moonshot app to the Khao Kheow Zoo, instantly linking the coin to its real-world inspiration.
There are different tokens named MOODENG on blockchains like Ethereum and Base, however the Solana model is the first one. Its market cap has reached $305 million, whereas its Ethereum model holds simply $7.5 million. To keep away from confusion, merchants are suggested to confirm the Solana token tackle utilizing platforms like CoinGecko or GeckoTerminal.
Moo Deng’s rise in reputation has additionally helped enhance foot site visitors to the zoo and introduced the venture consideration from main media retailers together with the BBC and The New York Instances. One early investor reportedly turned $800 into $3.5 million, additional fueling public curiosity within the token.