Can Moo Deng (MOODENG) Sustain its 90% Price Rally?

• MOODENG token is trading above $0.6, recording more than 90% token surge. 
• The Coinbase announcement listing MOODENG triggered a sharp price hike. 

Moo Deng token price has been skyrocketing, recording over a 90% price surge, since Coinbase announced the MOODENG token listing yesterday. Token listing announcements from leading crypto exchange platforms such as Binance and Coinbase have always caused significant price surges in upcoming and existing tokens and memecoins. 

Moo Deng (MOODENG) token price in the last 24 hours (Source: CoinMarketCap )

As per the leading crypto price tracking platform CoinMarketCap, the MOODENG token price witnessed a sharp price hike yesterday and is still continuing its price rally. Within a few minutes, the token went from the lows of $0.29 to the highs of $0.58, with an almost 100% price rise. 

The MOODENG token is currently trading around $0.62, with a 90% price rise in the last 24 hours. Its market cap exactly followed the price pattern and more than doubled within minutes and is currently standing above $615 million. Coming to the trading volume, it crossed the $1 billion mark, with a whopping 720% increase in the last 24 hours. 

Coinbase Added MOODENG to New Token Listings

One of the well-known crypto exchange platforms across the globe Coinbase announced assets added to its roadmap yesterday. The platform included Moo Deng in its new token listings, which led to this ongoing price rally of the Solana memecoin. The fact that MOODENG price went above the bars within just a few minutes after the announcement demonstrates the hype around this memecoin.  

Moo Deng is a memecoin introduced on the Solana blockchain and is inspired based on the popular internet meme Moo Deng, which is a pygmy hippopotamus living in Thailand. The interest went gaga over this creature, calling all its activities adorable. Similar to the birth of many previous memecoins in the industry, the Moo Deng meme popularity has also led to the MOODENG memecoin creation. 

Can MOODENG Sustain Its Price Rally?

Another leading crypto exchange Binance announced Moo Deng futures listing in October this year. In line with the current market scenario, the MOODENG token price rose substantially by over 128% in 24 hours . However, it didn’t take more than a week for the price to drop. 

After experiencing another price surge and reaching the highest $6.7 price level, MOODENG dropped and went to as low as $0.3. The Coinbase announcement came at the right time to rescue the MOODENG market price from further price declines. 

Similar to any other previous memecoin, it is difficult for Moo Deng to sustain its price rally for a long time. The market price might return to its downward trend when a new memecoin enters the market and people get bored of this adorable hippo. However, the bullish crypto market might add some boost to Moo Deng price, causing the price rally to continue for some time.

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