Solana Memecoin $MOODENG Soars & Takes One Trader with It

When Moo Deng, an adorable baby hippopotamus in Thailand’s Khao Kheow Open Zoo, was first unveiled on Facebook, she went viral overnight. Thousands of visitors flocked to Thailand’s zoo to see her and her family in real life.

Now, a Solana-based memecoin by the same name (which means “bouncy pork” in Thai) has been soaring, and one trader managed a huge return that has made news, raised eyebrows, and perhaps awoken a fever in more than a few memecoin fanatics.

Data from Solscan shows an investor sold 9.8 $SOL to buy 38.7 million $MOODENG tokens. Over the course of two weeks, the memecoin turned his initial investment into $3.4 million, a return of over 2,500x.

Such a well-timed trade unsurprisingly raised suspicions in the crypto community, and many believe the trader must be the developer or the coin’s creator. Also, people noticed the $MOODENG pool only had a liquidity of $1.8 million, which meant at current market prices the investor couldn’t cash out the full amount. 

Regardless, $MOODENG was launched on September 10th on Pump.fun and has already reached a market cap of over $146 million. It’s up nearly 600% on the week and almost 50% over the last 24 hours, as per data from CoinGecko at the time of writing.

Many Solana memecoins were in the green today. Other top coins that are up over the last seven days include $DOGWIFHAT (+26%), $BONK (+14.5%), and $POPCAT (+14.5%). These are big market cap coins compared to $MOODENG, with market caps all exceeding 1 billion.