The cryptocurrency market experienced a dip despite positive US-China trade talks. Bitcoin fell to $103,888, while Ethereum dropped 2% to $2,508. Other altcoins like Dogecoin, Solana, and XRP also saw declines.
However, Moo Deng, a meme coin on the Solana blockchain, surged 125% in the last 24 hours. This rally appears driven by multiple factors. For context, Solana memecoins gained popularity in 2024 but crashed hard by 2025, losing over 90% of their value. Surprisingly, some of these "dead" coins are now showing signs of revival with impressive gains.
What’s Driving the Moo Deng Price Rally?
On May 11, Binance added MOODENG and GOAT to its Alpha Projects batch, designed to spotlight early-stage tokens. This reignited interest after controversies like the LIBRA token incident had cooled demand.
Following the announcement, the token spiked 60%, hitting $0.20**, with its market cap jumping from **$140 million to $180 million** in hours. Over the past week, Moo Deng skyrocketed **600%**, reaching its highest price since January. Its link to a viral **Thai hippo mascot** has fueled social media hype, further boosting prices. Currently, it trades at **$0.2447, up 97%.
Rising Demand and Future Potential
Last week’s surge was fueled by:
- Institutional demand for SOL.
- Retail interest after Bitcoin crossed $103,000.
- A 33.7% increase in the overall Solana memecoin market cap ($12.6 billion).
Futures open interest for Moo Deng reached $274 million** (per **[CoinGlass](https://www.coinglass.com/currencies/MOODENG)**), up from **$13.4 million a month ago, signaling growing trader speculation. Analysts project prices could rise to $0.24–$0.34, with potential for continued upward momentum despite earlier bearish trends.
👉 Discover More About Solana Memecoins
FAQs
What is Moo Deng coin?
Moo Deng is a Solana-based meme coin revived in 2025 by a Binance Alpha Projects listing.
Is Moo Deng listed on Binance?
Yes, it was added to Binance’s Alpha Projects on May 11, triggering a 600% weekly surge.
Is Moo Deng a good investment?
While gains are impressive, its volatility and meme-driven nature pose risks. Past similar tokens have crashed hard.
👉 Explore Crypto Market Trends
Key Takeaways:
- Moo Deng’s 600% weekly surge stems from Binance’s support and viral hype.
- Caution advised: Memecoins are high-risk, prone to sharp corrections.
- Monitor SOL ecosystem trends for future opportunities.