Moo Deng memecoin hits $100M market cap amid global hype

The Moo Deng (CRYPTO:MOODENG) memecoin, inspired by a baby pygmy hippo from Thailand, has reached a market cap of $100 million, gaining attention from global investors and fans alike.

The Solana-based token crossed this milestone on Thursday, becoming one of the few new tokens to achieve such a rapid rise, according to CoinMarketCap data.

Moo Deng’s popularity stems from the internet fame of the hippo, who was born in July at the Khao Kheow Open Zoo in Bangkok.

The hippo’s viral appeal has spread globally, with companies like Dreamworks and UFC even creating memes based on her image.

The token’s rise has been accompanied by a surge in trading activity.

A fan page for Moo Deng reported that the token has amassed 12,400 unique wallet holders, with over $48.5 million in volume traded within 24 hours.

In one notable case, on-chain data from Lookonchain showed a trader turning $1,331 into $3.4 million by capitalising on the token’s rapid growth.

Moo Deng’s appeal extends beyond typical memecoins, which often focus on cats or dogs.

This new crypto star, named after the Thai term for “bouncy pork,” has captivated audiences globally, and her popularity has led to a unique place in the memecoin market.

Despite the excitement, the Khao Kheow Open Zoo has yet to acknowledge the memecoin or any crypto-related imagery of Moo Deng, although the zoo is reportedly working on trademarking her likeness for fundraising purposes.

According to Udomsak Rakwongwan, co-founder of FWX.Finance, Moo Deng’s global reach sets her apart from other Thai-themed tokens, which have struggled to gain traction outside the country.

At press time, the Moo Deng price was $0.1766.