A trader just hit the jackpot with viral new baby hippo meme coin $MOODENG, turning their initial $217 investment into an unrealized networth of over $600,000.
According to a post on X by on-chain sleuth Kakashi, a wallet bought 4.8 million MOODENG tokens for $217 a few days ago.
This was $217 about 2 weeks ago.$Moodeng
— Kakashi (@kkashi_yt) September 25, 2024https://t.co/r6A1uk4e5q pic.twitter.com/PHJm4kZ7vW
But the price of the baby hippo meme coin $MOODENG has since enjoyed a spectacular surge.
Per DEXScreener, $MOODENG has surged to a market cap of over $135 million, amassing locked liquidity of over $2.3 million.
The new Solana meme coin's spectacular success comes as $MOODENG enjoys surging engagement on social media and an influx of investors.
The baby hippo meme coin's main X fan page has amassed 40,000 followers, garnered tens of millions of impressions, featured in major news websites, and gained over 5,500 subscribers to its Telegram page, the fan page boasted on X.
Baby hippo meme coin $MOODENG has been listed on various exchanges like MEXC, HTX, Bitmart, and Lbank and has been bought by nearly 10,000 individual wallets, per DEXScreener.
As a result, the trader's initial $217 investment is now worth $612,000, per Solscan.
If this trader chose to cash out, the $MOODENG price could crash rapidly, as their $612,000 bag would eat a large portion of the $MOODENG liquidity pool.
How High Can Baby Hippo Meme Coin $MOODENG Go
$MOODENG's rally in recent days has been spectacular.
And the price does risk crashing if big holders choose to cash out.
That said, baby hippo meme coin $MOODENG has all the makings of a new meme coin with big potential.
No one would deny the cuteness of Moo Deng, the baby hippo the meme coin is based on.
That gives the meme coin a wide "normie" appeal. In a world dominated by dogs and, to a lesser extent, cat meme coins, a meme coin represented by a new animal can thrive.
$MOODENG also appears to present a very low rug-pull/pump-and-dump scam risk, given it appears to be a highly community-centric meme coin.
Per DEXScreener, the baby hippo meme coin has no issues with its smart contract, and its biggest holder represents just 1.8% of the supply.
$MOODENG's cuteness and honesty are a strong foundation for future success.
The return of a new meme season as the Fed and global central banks axe interest rates could easily see $MOODENG become the next $1 billion meme coin.
The trader that bought 4.8 million MOODENG for $217 could soon see their bag swell to a multi-million worth.
Alternative to Consider
Meme coins like $MOODENG don't come around very often.
The trader who turned $217 into over $600,000 was taking a major risk with their money.
That's because the vast majority of newly launched meme coins fail to gain any notable traction ultimately.
Traders can better put the odds in their favor if they buy new cryptos that have a lot of utility and are in a fast-growing crypto sector.
One such coin is Mega Dice (DICE), a new Telegram crypto casino that analysts think is one of the most promising new projects in the fast-growing GambleFi sector.
Cryptonews.com's in-house presale analyst explains in the video below why he thinks that Mega Dice has 50x potential.
The post Trader Turns $217 Into $612,000 With Viral $MOODENG Baby Hippo Meme Coin – Here's How They Did It appeared first on Cryptonews.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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