Moodeng Returns to the Spotlight with $1.2 Billion Surge in Volume and 612% Growth for the Week

Moo Deng (MOODENG), a meme coin based on Solana, has emerged as the leader in the latest cryptocurrency market price surge, surpassing the top 1,000 cryptocurrencies in the past day. Its daily trading volume has exceeded 1 billion USD.

This meme coin has also experienced a significant price increase. In the past week, its value has soared by three digits.

Solana's MOODENG Leads Cryptocurrency Price Surge

MOODENG, leveraging the viral appeal of a cute hippo, has surged strongly after its launch in 09/2024. Internet hype has pushed its market capital beyond 100 million USD just a few weeks after launch.

However, after reaching its All-Time-High (ATH) in November, MOODENG entered a prolonged decline period. By early April, its market capital had dropped to around 20 million USD.

Currently, this meme coin seems to be making a strong comeback. Data from BeInCrypto shows that MOODENG's price has increased by 612.3% in the past week, supported by consecutive price surges since the previous Thursday.

Moreover, MOODENG has increased by 104.3% in just the past day. At the time of writing, it is being traded at 0.24 USD, marking its highest price in over four months.

This explosive price volatility has made MOODENG the top trending token on CoinGecko. Furthermore, it has topped the top price gainers ranking.

Due to the price increase, market capital has once again surpassed the 100 million USD mark. According to the latest data, it reached 263.8 million USD. This growth has attracted significant investor attention, proven by increased trading activity.

According to data from CoinGecko, MOODENG's daily trading volume has reached 1.2 billion USD, marking an impressive 325.8% increase. Notably, Coinbase accounts for 27% of the total volume, indicating strong participation from US traders.

On-chain analysis from Solscan further emphasizes this trend. Total purchase volume on decentralized exchanges (DEXs) has skyrocketed 8,201% compared to the previous week, from 179,490 USD to 14.9 million USD at the time of writing.

The token's appeal has expanded beyond small investors to "smart money". According to a post on X by StalkHQ, these strategic investors poured 194,000 USD into MOODENG on 05/10, further driving its momentum.

"165 new wallets have accumulated 25% of MOODENG's supply and have a total unrealized profit of 25.3 million USD," HolderScan posted.

This token's strong growth is occurring while it was recently listed on Binance Alpha. The listing seems to have stimulated significant interest from small investors.

Data from Google Trends reflects a similar increase in public curiosity. Search interest for "MOODENG" has steadily increased over the past week and reached a peak of 100 early today. This indicates growing online attention and suggests another viral wave.