Solana (SOL)-Based Memecoin Moo Deng (MOODENG) Stumbles After Coinbase Listing

A memecoin based on the name and likeness of a baby hippopotamus in a Thai zoo is stumbling at the gates following a new Coinbase listing.

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

“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.”

Moo Deng is the name of a baby pygmy hippopotamus born in the Khao Kheow Open Zoo in Si Racha, Chonburi, Thailand, this past summer. The hippo has become an internet sensation, inspiring memes and memecoins alike. Moo Deng means “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 went viral again by correctly “predicting” the outcome of the 2024 U.S. Presidential Election.

Despite Moo Deng’s internet fame, MOODENG has faltered in the hours following the Coinbase listing. Approximately 24 hours following the memecoin’s addition to Coinbase, MOODENG is down 12.4%. Meanwhile, the rest of the crypto markets are largely surging following Bitcoin’s (BTC) historic breakthrough of $100,000.

In stark contrast with MOODENG’s struggles, another Solana-based memecoin ripped after Coinbase added support on Wednesday.

Gigachad (GIGA), a crypto asset inspired by the photo shoot of Russian bodybuilder Ernest Khalimov, pumped up 51% after the top US crypto exchange listed the memecoin.

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The post Solana (SOL)-Based Memecoin Moo Deng (MOODENG) Stumbles After Coinbase Listing appeared first on The Daily Hodl.