Memecoin Inspired By Baby Hippo 'Moo Deng' Jumps 700% Since Launch, Market Cap Surges Past $190M

After melting hearts with her cute mannerisms, viral internet sensation "Moo Deng" is helping cryptocurrency traders multiply profits.

What happened:  The adorable baby hippo has been charming social media users and attracting long queues at the Thailand zoo where she is housed, ever since the first few videos of her playful nature surfaced.

And, as with most viral phenomena these days, the cryptocurrency market has attempted to profit from the excitement surrounding the cute animal

A memecoin themed on Moo Deng has surged nearly 700% since its launch earlier this month, according to CoinGecko. The Solana SOL/USD–based token has already racked up a market capitalization of more than $190 million as of this writing. 

In fact, Moo Deng (MOODENG) had the highest 24-hour increase, nearly 80%, of any memecoin introduced through Pump.Fun, Solana’s token launchpad.

See Also: Maxine Waters Says ‘Crypto Is Inevitable,’ Other Countries Are ‘Way Ahead’ Of The United States

While it is difficult to estimate how long the frenzy will last given the volatility of the memecoin market, retail traders aren't missing any opportunity to milk the ongoing interest around the baby hippo for financial gains.

Price Action: At the time of writing, Moo Deng was exchanging hands at $0.1944, up 80.7% in the last 24 hours, according to data from Benzinga Pro. 

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Photo courtesy: Tambako the Jaguar via Flickr