A memecoin based on a famous baby hippo, Moo Deng, has had a rough start after being listed on Coinbase.
Coinbase Listing Doesn’t Boost Moo Deng
Coinbase added Moo Deng (MOODENG), a Solana-based cryptocurrency, to its platform. The coin is named after a baby pygmy hippopotamus who became an internet sensation after being born at a Thai zoo. Despite its online popularity (and a supposed “prediction” of the 2024 US Presidential election!), the coin’s price dropped by 12.4% in the 24 hours following the Coinbase listing.
Other Memecoins Fare Better
This is in sharp contrast to another Solana-based memecoin, Gigachad (GIGA), which saw a 51% price surge after its Coinbase listing.
Crypto Market Remains Strong
Interestingly, the overall crypto market is doing well, with Bitcoin recently breaking the $100,000 mark. Moo Deng’s underperformance stands out against this positive backdrop.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Investing in cryptocurrencies is risky, so always do your research before investing.
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