Coinbase Adds Solana Memecoin MOODENG, Price Doubles

Dec 2, 2024, 03:19 PM

Coinbase Global Inc. has announced the addition of Moo Deng (MOODENG), a Solana-based memecoin inspired by a small hippopotamus popular in Thailand, to its listing roadmap. The decision to list MOODENG comes as part of a broader trend of US exchanges, including Coinbase and Kraken, incorporating a significant number of memecoins into their offerings. Following the announcement, the price of MOODENG experienced a short-term doubling, with one investor reportedly spending approximately $824,000 to buy 1.5 million MOODENG tokens at an average price of $0.5466, resulting in a profit of $26,000 within 25 minutes.