Crazy Buying Of This New Solana Meme Coin

Lookonchain reported a remarkable surge in interest for the memecoin $MOODENG. A whale recently made headlines by spending 10,156 $SOL (approximately

A memecoin on the Solana blockchain, inspired by a baby pygmy hippo in a Thai zoo, has seen its price skyrocket by nearly 600% over the past 24 hours.

According to data from CoinMarketCap, the token, known as $MOODENG, is now trading at $0.266, up from $0.042 at this time yesterday.

The remarkable surge in interest for $MOODENG has also been noted by on-chain data firm Lookonchain, which observed a whale spending 10,156 $SOL (roughly $1.59 million) to acquire 6 million $MOODENG tokens at an average price of $0.2655 within just eight hours.

“A whale is buying a large number of $MOODENG (inspired by a baby pygmy hippo in a Thai zoo and launched on Pump.fun). It spent 10,156 $SOL ($1.59M) to buy 6M $MOODENG at an average price of $0.2655 in the past 8 hours,” the blockchain data platform tweeted.

Launched on Pump.fun on September 11, 2024, $MOODENG has quickly managed to garner attention, thanks in part to its unique inspiration. The token has a total supply of 1.2 billion and is available for purchase on decentralized exchanges (DEXs) like Orca and Raydium.

At the time of writing, $MOODENG boasts a market cap of over $320 million, ranking among the top 150 cryptocurrencies by this metric.

With just a few days of price action, it is difficult to conduct a thorough price analysis for $MOODENG. However, the token has been trending upwards since its launch.