Moo Deng (MOODENG) memcoin: how a new project helps to care for animals
What is Moo Deng?
Moo Deng (MOODENG) is a new meme token that uses the image of the eponymous pygmy hippo living in the Khao Kheow Zoo in Si Rache, a town in Thailand's Chonburi province.
The meme-token mascot Moo Deng was only born in July 2024 but has managed to quickly win the hearts of millions of fans around the world. Moo Deng ("bouncy pork" in Thai) was chosen by voting on social networks — more than 20 thousand users voted for this nickname. After a while, users began creating memes and drawings of Mu Deng's hippo. This trend was picked up by the Moo Deng meme token developers, building a digital asset on the blockchain in honor of the famous dwarf hippo.
World-famous giants such as DreamWorks Animation, Universal Pictures, and Microsoft have played an essential role in the popularity of the baby Moo Deng by featuring the image of the much-loved hippo in their advertising campaigns.
Meanwhile, the creators of the Moo Deng meme token aren't just exploiting the image of a favorite of millions of fans. The developers of Moo Deng have released the Mooshot app, where users can buy and sell memes featuring their favorite pet, with all sales fees going directly to the Khao Kheow Zoo to financially support animal care.
Moo Deng tokenomics
MOODENG was released on the Solana blockchain. This platform is the most popular in 2024 for issuing meme tokens as it provides speedy and cheap transactions. Due to this, the cost of issuing tokens is also relatively low, unlike Ethereum.
MOODENG was listed on exchanges in late September 2024, and since then, as of the end of November, its price has increased by more than 1100% — from $0.03 to $0.42. MOODENG's market capitalization has reached $416 million. At its peak in mid-November, Moo Deng's price reached $0.69.
Moo Deng stands out from many memcoins by its relatively small issue (total number of existing units): the total number of MOODENG issued on the market is almost 1 billion.
The token itself currently has no use: users can only sell and buy MOODENG, as well as add to liquidity pools on decentralized exchanges in the Solana ecosystem, such as:
- Raydium,
- Orca,
- Meteora VP/VD.
MOODENG prospects
Even though Moo Deng quickly gathered around supporters and was listed on major centralized exchanges such as Binance, OKX, Gemini, ByBit, and Kraken, it is one of the many representatives of the meme token class and has no practical value. This is why investing in memcoins involves high risks of capital loss.
It is impossible to evaluate Moo Deng in the long term, as the team has no roadmap or any statement of plans. On the official website, the developers state that they are preparing "something exciting," but it is not yet known what exactly it is.