Meme Coins BaoBaoSol and Moo Deng Defy Market Conditions, Showcase Triple-Digit Gains
- Linda HamiltonOriginal
- 2024-10-06 22:22:16838browse
BaoBaoSol (BAOS) spiked 831.8% while Moo Deng (MOODENG) rose 511.2% in. the last 24 hours
A new meme coin, BaoBaoSol, has spiked 831.8% in the last 24 hours, while Moo Deng, a meme coin inspired by a baby hippo born in Thailand, rose 511.2%, as per CoinGecko data.
The meme coin market cap now stands at $50.8 billion.
Not much is known about the BaoBaoSol meme coin, but Moo Deng has been making waves in the crypto world.
The coin, inspired by a pygmy hippo born this past summer at a zoo in Thailand, has seen a significant upward movement in recent weeks.
Recent price movements
In the past month, Moo Deng has seen a remarkable rise, jumping to a record high of $0.3495, bringing the weekly gains to over 700%.
Crypto enthusiasts quickly capitalized on the baby hippo, which went viral, inspiring memes, videos, and challenges related to Moo Deng.
The coin’s popularity coincided with a surge driven by an influx of new buyers, attracted by its low entry price and the hope of riding the next big meme coin wave.
Community-led growth, but proceed with caution
The Moo Deng community has been at the forefront of its price movements.
Unlike other meme coins that rely on celebrity endorsements or large exchanges, Moo Deng’s growth has been almost entirely organic, driven by grassroots engagement.
However, despite the recent surge, crypto analysts warn investors about the volatility of meme coins.
For instance, if you bought #MOODENG a week ago, which many of you did, you’re down 50%. In another week, you will be down even more. Stop being exit liquidity for influencers' flavor of the week meme coin.
Moo Deng’s price could continue to fluctuate, influenced by unpredictable factors like market sentiment.
At one point, Moo Deng’s market cap soared to over $300 million, making it the biggest token in the Pump.fun ecosystem. It has since come down to $138 million.
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