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Moo Deng Memecoin Surges 700% to $0.3495, Market Cap Hits $308M

Sep 29, 2024, 11:07 PM

The hippo-themed memecoin, Moo Deng (MDG), has experienced a significant surge in value, rising 700% in a week to trade at $0.3495. Its market cap reached $308 million, with a brief pullback to $240 million before climbing again. Total holders increased from 9,000 to 27,000. Notably, whales have been actively investing, with one whale purchasing $1.59 million worth of MDG, bringing their total holdings to $3.57 million. The memecoin's rise is part of a broader trend in the memecoin market, with other coins like SHIB also seeing substantial gains. Additionally, every trade on the Moonshot app creates a ripple effect, with 100% of fees going towards hippo conservation.