Moo Deng, the baby hippo that oozes cuteness and attitude, is all over the interwebs, including a 24-hour live stream of her habitat in the Khao Kheow Open Zoo in Thailand.
And when something is as viral as Moo Deng is, it is only a matter of time until someone creates a memecoin with the same name.
Most often, these memecoins are drowned with the thousands of others that appear daily, and never reach stardom. But because this is Moo Deng we’re talking about, the memecoin is of course doing exceptionally well.
For those not following the recent crypto scene, memecoins are cryptocurrencies residing on crypto ecosystems like Solana or Ethereum, which typically promise very little and are mostly traded by speculators. In the vast majority of cases, their value never exceeds a couple hundred dollars total before they vanish into the annals of blockchain.
But Moo Deng is a bit different. According to Dexscreener, Moo Deng currently has a market cap of over $227 million (a cryptocurrency market cap represents the total value of all available coins at current prices). Given that it started from virtually zero, some speculators have gotten rich by buying Moo Deng and not selling it for a few weeks
If you’re thinking of doing the same, be warned: These memecoins are incredibly volatile and are prone to suddenly losing all value within days or even hours. Just because Moo Deng is currently in its “pump” stage, does not mean a “dump” isn’t coming.
Moo Deng, the actual baby hippo, probably does not care about Moo Deng, the memecoin. Heck, I bet she doesn’t even have a Solana wallet. But that also means she’s certainly not about to lose money on it. Good for you, baby pygmy hippo; good for you.
0 Comments