The world of cryptocurrency is known for its wild swings and unexpected trends, and a recent example of this is the success story of a skilled trader who capitalized on the viral phenomenon of ‘Moo Deng,’ a baby hippo stealing hearts online. This trader reportedly made a whopping $392,200 profit by investing early in MOODENG, a meme coin inspired by the adorable hippo.
According to data from Lookonchain, the trader entered the MOODENG market when its market capitalization was a mere $70,000. This early bet paid off big time as the token’s market cap surged to $244.3 million, according to Dexscreener. This remarkable growth reflects the rapid rise of MOODENG, a Solana-based token, mirroring the popularity of its namesake. Moo Deng, residing in a Thailand zoo, has captured the hearts of millions with her cute antics, drawing large crowds and dominating social media feeds. The cryptocurrency market, ever quick to capitalize on viral trends, has witnessed MOODENG’s value soar.
MOODENG is currently trading at $0.2483, representing an 86.42% increase in the past 24 hours. The token’s total trading volume has reached $59.8 million, with a significantly higher buy volume of $30.1 million compared to the sell volume of $29.8 million. This surge aligns with the broader trend of meme coins gaining popularity in the crypto space.
MOODENG has outperformed many other tokens on Solana’s launchpad, Pump.Fun, boasting the highest 24-hour increase among its peers. This success story isn’t just limited to MOODENG. The same trader has also demonstrated success with other meme coins, pocketing over $300,000 from trades on lesser-known Solana meme coins PESTO and OMOCHI.
This news comes at a time when meme coins are experiencing a resurgence, fueled by Bitcoin hitting the $66,000 mark. It’s a testament to the volatile nature of the cryptocurrency market and the potential for significant gains through shrewd timing and the right investment choices.
