Moo Deng Memecoin Soars After Listing In Coinbase

The price of the MOODENG meme has soared after listing on Coinbase. (Photo; Doc. BlockNews)

JAKARTA - Moo Deng (MOODENG), a memecoin developed in the Solana network inspired by hippo babies at the Thai zoo, caused a crypto community commotion after crypto exchange Coinbase announced it would trade the token. After Coinbase's announcement in early December 2024, the price of OODENG shot up to 90% in a day, hitting a price of 0.65 US dollars (Rp. 10,400).

For your information, Moo Deng's name itself comes from a hippo baby who was born at the Khao Kheow Open Zoo, Thailand. In a short time, this hippo baby went viral on social media, even "decreasing" the results of the 2024 US elections, which had made it even more famous. This incident also inspired the creation of a MOODENG memecoin, which is now attracting speculators in the crypto market.

However, despite the sharp price spike, OODENG is also facing major problems. One of them is limited liquidity, with only $81,000 in market depth on the OKX platform. This makes price movements very vulnerable to large fluctuations, which can pose a risk to investors who want to make large transactions.

As a memecoin trend, OODENG is not the only token that recorded a price spike after being announced in Coinbase. Memecoin Gigachad (GIGA) also experienced a 51% jump after gaining support from the world's largest crypto exchange.

However, despite the potential for quick profits, experts warn to be careful because memecoins like MOODENG are often very speculative and have no clear intrinsic value.

For many people, OODENG is an interesting example of how internet and pop culture trends can be transformed into valuable digital assets. Even so, investors must be ready to face high market volatility.