Trader Made $140K in 20 Minutes After Binance’s MOODENG Listing Announcement

MOODENG’s open interest has surged by 350% in the past 24 hours indicating the buildup of more positions. MOODENG has registered a significant price surge of over 190% in the past 24 hours.

A trader made a quick profit of 809 SOL ($140,000) in just 20 minutes after Binance announced the listing of the MOODENG perpetual contract.

According to data from Lookonchain, the trader spent 1,300 SOL to purchase 2.77 million MOODENG meme tokens.

After the announcement, MOODENG price surged and the trader quickly sold the 2.77 million meme tokens for 2,109 SOL.

This isn't the first time a trader has made a quick profit from Binance perpetual contract listings.

On October 24, after Binance announced the listing of the perpetual contract for the meme token, a trader made 99 SOL ($17,000) using the same strategy.

The post on X is getting a lot of attention from crypto enthusiasts, especially due to the trader’s quick profit and the upside rally that MOODENG registered following the announcement.

At press time, MOODENG is trading at $0.228, and has registered a significant price surge of over 190% in the past 24 hours.

During the same period, its trading volume has also skyrocketed by 470%, indicating heightened participation from traders and investors following its listing on Binance.

With this impressive price surge, the meme coin’s market cap has also surged past the $200 million mark, and it currently stands at $224.60 million.

MOODENG’s open interest has also surged by 350% in the past 24 hours, indicating growing trader interest in the meme coin.

Over the past four hours, its open interest has increased by 32%. This rising open interest could indicate the buildup of more positions after its listing on Binance.

Data from CoinGlass shows that MOODENG’s long/short ratio currently stands at 1.03, indicating strong bullish sentiment among traders.

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