- Coinbase adds Moo Deng (MOODENG), a Thailand-inspired memecoin, to its listing roadmap.
- MOODENG gains momentum with Coinbase’s listing plan and Binance Futures’ perpetual contract launch, enhancing its appeal to traders.
Coinbase has announced that they added Moo Deng (MOODENG), a memecoin inspired by a baby hippopotamus famous in Thailand, to its listing roadmap.
Since its original inspiration—a newborn hippopotamus named Moo Deng born at the Khao Kheow Open Zoo in Thailand—MOODENG, which debuted in October 2024, has become rather popular very fast. The announcement has already created waves in the market, which has greatly increased trading activity of MOODENG.
Assets added to the roadmap today: Moo Deng (MOODENG)https://t.co/rRB9d3hSr2
— Coinbase Assets (@CoinbaseAssets) December 2, 2024
Market Anticipation Drives MOODENG’s Growing Appeal
After the news, the price of the token shot up 70% in just 24 hours. Trading volume climbed to $751 million after an exponential 400% surge as well.
Despite being part of Coinbase’s roadmap, the platform has not yet activated official trading and transfer support for MOODENG, pending further changes. However, the market’s excitement about its eventual release has driven significant momentum.
With large exchanges like Coinbase and Kraken stepping more and more into this industry, the memecoin market has seen an upward trend recently. MOODENG’s inclusion emphasizes this trend since these platforms seek to profit from the growing need for original and culturally relevant digital resources.
Linked to a cherished animal in Thailand, MOODENG’s narrative tells a gripping tale that appeals to both dealers and fans equally, therefore enhancing its popularity.
Furthermore, Binance Futures has launched a perpetual contract for the token, therefore adding MOODENG to its products. CNF reports that this action greatly increased demand for the memecoin, thereby driving up its price by around 120% at that moment.
The introduction of futures contracts has greatly aided the expansion of the token by creating high-leverage trading prospects. Meanwhile, MOODENG is currently still in a bullish trend; its price rose 90.64% over the last 24 hours to $0.62 and has a 291.96% rise over the last 30 days.
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