Solana-based meme coin Moo Deng has surged 87% following a landmark listing announcement on Coinbase.
Indeed, the move has sparked massive excitement, and Moo Deng is preparing for another explosive run after it initially took the market by storm in September.
CoinGecko data shows that Moo Deng’s price has surged by 87% in the past 24 hours, bringing its market cap to $612 million.
This makes it the best-performing meme coin today and caused it to flip BOME’s market cap.
Coinbase made the announcement on its Coinbase Assets X page, noting that Moo Deng has been added to the roadmap. It has yet to launch for trading, but previous meme coins listed on the roadmap have typically gone live the same day.
When the San Francisco-based exchange lists a new meme coin, it indicates that it believes the token is legitimate, which boosts its price. And that’s not to mention the exchange’s 100 million users who will now have access to buy it.
Prominent crypto figure Frankdegods noted that Coinbase’s current lowset-valued meme coin is Floki, which is worth $2.1 billion.
Analysts believe this presents massive growth potential for Moo Deng, especially considering the meme coin’s connection to the viral baby hippo Moo Deng.
Mr 1% says that $2.1 billion is “fair value” for Moo Deng but also speculates, “Being a super viral animal right now, it goes higher than that.”
The Coinbase listing has put Moo Deng back in the spotlight. Today, it processed $1.1 billion in 24-hour trading volume, which is more than Bonk despite its market cap being five times higher.
And with the Coinbase listing yet to go live, we could potentially see another uptick in momentum in the coming days.
Moo Deng’s resurgence this week underscores the market-moving importance of centralized exchange listings, and this is also partly why Catslap has rocketed 66% in the past 24 hours.
Catslap is a viral meme coin that has shot up 66% to a $, buoyed by anticipation for an upcoming exchange listing alongside a significant institutional money investment.
The token launched on 23 November and got off to a fast start. But after retracing with the broader market, it’s back on the rise again.
Investors are awaiting a “major announcement” in two days that will reveal a centralized exchange that Catslap will list on. But excitement is soaring after it was revealed yesterday that Chicago-based trading house Jump Trading made a $500K investment into $SLAP.
Could Jump Trading’s inside contacts convince top tier-1 exchanges like Coinbase and Binance to list the token?
Catslap recently caused a buzz by unveiling its “Slap-to-Earn” gamified experience, where users choose a character they want to slap, and then get to work and earn $SLAP tokens.
With that, analysts have high hopes. Crypto June even says it could make millionaires.
The project also has a staking mechanism encouraging users to lock up their tokens long-term. Another feature is its burn mechanism, which will decrease the circulating supply over time, making the remaining $SLAP tokens more valuable.
This is more than just an average meme coin. It has all the hallmarks of a project that could rival Moo Deng and beyond.
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