Solana
Meme Coin Moo Deng Rockets 80%
in an Hour After Coinbase
Listing Plans
Solana Meme Coin Moo Deng Rockets 80% in an Hour After Coinbase Listing Plans
Is Moo Deng back? Coinbase announced it would list the meme coin, prompting a
dramatic surge in price immediately thereafter.
By Mat Di Salvo
Dec 2, 2024 Dec 2, 2024
2 min read
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Solana -based Moo Deng (MOODENG) shot up over 80% within an hour after
prominent American crypto exchange Coinbase announced it plans to list the
token.
Data from CoinGecko shows the meme token is now priced at about $0.57. In a
24-hour period, MOODENG has jumped by nearly 54%.
The token, which gained traction in September, is still down from the all-time
high price of $0.68 it touched in November. It only has 16% more to rise until
it beats that level, though.
Assets added to the roadmap today: Moo Deng (MOODENG) https://t.co/rRB9d3hSr2
— Coinbase Assets ð¡️ (@CoinbaseAssets) December 2, 2024
The asset runs on Solana's network—a blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн that has this year become
increasingly attractive for those wanting to mint new tokens.
Coinbase made the announcement Monday that the token would be listed on its
exchange, adding Moo Deng to its roadmap. Meme coins listed on the roadmap in
recent weeks have typically become available for trading later the same day.
When the San Francisco• Соединённые Штаты Америки (США) » Административные единицы США » Административное деление США » Калифорния (штат) » Города Калифорнии » Сан-Франциско
• Соединённые Штаты Америки (США) » Населенные пункты США » Города США » Города Калифорнии » Сан-Франциско-based firm lists tokens, they typically go up in price
as traders consider them to be more legitimate, not to mention far more
accessible to mainstream traders. This is known as the "Coinbase effect."
As the price of Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin has increased, hitting new all-time highs this year,
so have meme coins and tokens . Meme coins are cryptocurrencies• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта based on
internet jokes, celebrities, real-world events, and beyond. They can make
lucky traders a lot of money, but can just as easily lead to huge losses due
to their volatility.
MOODENG in particular made headlines after one trader turned an $800
investment• Экономика » Финансы » Инвестиции into $7.5 million.
But it can be hard to reap the rewards from such assets: As Decrypt has
previously reported , liquidity is an issue in the space. One investor• Экономика » Финансы » Инвестиции » Инвестор who
made millions on paper couldn't take home their winnings immediately,
because such a move could cause a market crash by draining all of the
liquidity—and render any big gains worthless.
Edited by Andrew Hayward
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