Moo Deng (MOODENG) Stumbles at the Gates Following a New Coinbase Listing

Yesterday, Coinbase announced the listing of Moo Deng (MOODENG), a Solana (SOL)-based memecoin.

A memecoin named after a baby hippo in a Thai zoo is floundering after being listed on Coinbase.

On Thursday (Dec. 1), Coinbase announced that Moo Deng (MOODENG) is now available on its platform. The memecoin is pegged to the Solana (SOL) blockchain.

“Moo Deng (MOODENG) is now live on http://coinbase.com & in the Coinbase iOS & Android apps. Coinbase customers can log in to buy, sell, convert, send, receive or store these assets,” Coinbase announced.

Moo Deng is the name of a baby pygmy hippo that was born at the Khao Kheow Open Zoo in Si Racha, Chonburi, Thailand this past summer. The baby hippo became an internet sensation, with people creating memes and even memecoins in its honor. Moo Deng translates to “bouncy pork” in Thai.

Our favorite bouncy pork a.k.a Moo Deng ??#moodeng @KhaokheowZoo @MooDengSOL pic.twitter.com/5cJl9oJD82

— Moo Deng (@moodengx) December 1, 2024

In November, Moo Deng once again went viral after it "predicted" the outcome of the 2024 U.S. Presidential Election.

Despite Moo Deng's online fame, MOODENG has struggled in the hours following its Coinbase listing. Roughly 24 hours after the memecoin was added to Coinbase, MOODENG is down 12.4%. Meanwhile, the broader crypto market is surging as Bitcoin (BTC) crossed the historic $100,000 mark.

In stark contrast to MOODENG's floundering performance, another Solana-based memecoin soared after being listed by Coinbase on Wednesday.

Gigachad (GIGA), a crypto asset inspired by a photo shoot of Russian bodybuilder Ernest Khalimov, surged 51% after the leading U.S. crypto exchange listed the memecoin.