A new memecoin based on the popularity of a baby hippopotamus in a Thai zoo is facing some challenges after being listed on Coinbase. Moo Deng (MOODENG), a Solana-based memecoin named after a baby pygmy hippopotamus born in the Khao Kheow Open Zoo in Thailand, has not seen the same success as other memecoins following its listing on the popular exchange.
Moo Deng, whose name means “bouncy pork” in Thai, gained internet fame for being an adorable and playful hippo. The memecoin was created to capitalize on the hippo’s popularity and has gained attention in the crypto community. However, despite the hype surrounding Moo Deng, the coin has seen a 12.4% decrease in value within 24 hours of being listed on Coinbase.
In contrast, another Solana-based memecoin called Gigachad (GIGA) experienced a significant surge in value after being listed on Coinbase. Inspired by a photo shoot of Russian bodybuilder Ernest Khalimov, Gigachad saw a 51% increase in value following its listing on the exchange.
The discrepancy in performance between Moo Deng and Gigachad highlights the unpredictable nature of the cryptocurrency market. While some memecoins may experience rapid growth and success, others may struggle to maintain their value. It is essential for investors to carefully research and consider the potential risks before investing in any meme-based cryptocurrency.
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As always, remember to exercise caution and do your due diligence before investing in any cryptocurrency. The market can be volatile, and it’s essential to be prepared for fluctuations in value. Stay informed, stay safe, and happy investing.