An Ethereum-based meme coin is making headlines after being listed on the popular US-based cryptocurrency exchange Coinbase. The meme asset, known as Mog Coin (MOG), is a cat-themed token that was launched in July 2023. Coinbase Assets recently announced on social media platform X that it is adding support for MOG, allowing customers to buy, sell, convert, send, receive, or store the asset directly on the Coinbase platform.
Following the news of the listing, MOG saw a significant surge in value, jumping from a low of $0.000002375 on December 5th to a peak of $0.000003418 the next day. As of the time of writing, MOG is trading at $0.000003335, marking a 36% increase over the past 24 hours. This sudden price increase has caught the attention of many investors and traders in the crypto community.
Interestingly, another animal-themed meme coin called Moo Deng (MOODENG) also gained support from Coinbase recently. This Solana-based token, inspired by a pygmy hippopotamus named Moo Deng from Thailand, became a viral sensation after supposedly predicting the outcome of the 2024 US Presidential election. Despite its internet fame, Moo Deng’s value did not perform as well as expected after being listed on Coinbase, experiencing a 12% decrease from its peak value of $0.596 to $0.448. The token has since stabilized and is currently trading at $0.468.
The contrasting fortunes of MOG and Moo Deng highlight the unpredictable nature of meme coins in the cryptocurrency market. Investors are advised to exercise caution and conduct thorough research before investing in such assets. Stay updated on the latest developments in the crypto space by subscribing to our email alerts and following us on social media platforms like Twitter, Facebook, and Telegram. Don’t miss out on the exciting price action and news updates from The Daily Hodl.