- Moo Deng (MOODENG), a new Ethereum memecoin, skyrocketed by 480% within 24 hours, following a mention and donation from Ethereum co-founder Vitalik Buterin.
- His sale of 10 billion MOODENG tokens for 308.69 ETH and subsequent donation of 260 ETH to charity fueled investor interest, propelling the token’s value.
Moo Deng (MOODENG), a newly-launched Ethereum memecoin, saw a remarkable 480% surge in value within 24 hours. This surge was driven by a social media mention from Ethereum co-founder Vitalik Buterin following a significant sale. The MOODENG token, which was inspired by the Thai baby hippo Moo Deng, has rapidly gained popularity since its launch in September. It has hence, skyrocketed by over 4000%.
Vitalik Buterin’s MOODENG Mania
On Monday, October 7, Buterin sold 10 billion MOODENG tokens in exchange for 308.69 ether (ETH), valued at approximately $762,000, per the CNF report. He then donated 260 ETH, or around $642,000, to Kanro, a charity focused on anti-airborne-disease technology. Meanwhile, he still holds a substantial portion of MOODENG, with 40 billion tokens valued at more than $8 million.
In a social media post, Buterin expressed gratitude to the creators of Moodeng and stated his intention to donate his remaining tokens. “I appreciate all the memecoins that donate portions of their supply directly to charity,” the Ethereum founder wrote on X (formerly Twitter).
He further noted that he donates any memecoins sent to him to charitable causes. “Anything that gets sent to me gets donated to charity too (thanks moodeng! The 10B from today is going to anti-airborne-disease tech), though I truly prefer if you guys send to charity directly, maybe even make a DAO and get your community directly engaged in the decisions and process,” he added.
Buterin’s long-standing commitment to philanthropy has often seen him use crypto as a vehicle for donations. Thus, Moodeng’s team had sent Buterin a portion of their coin supply when the token was first launched in September. Thereafter, on October 5, Buterin sold $50,000 worth of MOODENG, along with other tokens, for ETH before making donations.
I appreciate all the memecoins that donate portions of their supply directly to charity.
(eg. I saw ebull sent a bunch to various groups last month)
Anything that gets sent to me gets donated to charity too (thanks moodeng! The 10B from today is going to anti-airborne-disease…
— vitalik.eth (@VitalikButerin) October 7, 2024
MOODENG Price Skyrockets
Buterin’s mention of MOODENG on social media, coupled with his donations, triggered a wave of investor activity. Traders flocked to the token, leading to a surge in transactions and driving the token’s value up by nearly 500%. Moreover, Dextools data shows that this significant rise has also pushed MOODENG’s seven-day gain to over 2,700% with investors mounting millions of dollars with less than $100 investment, reported CNF.
Meme tokens have a history of explosive growth after initial launches, with coins like Shiba Inu and Pepe being previous examples. Moodeng, which exists on both the Ethereum and Solana networks, follows this pattern.
Buterin has previously highlighted the potential of memecoins to do good in the world. “I think the best thing for memecoins is if they can be maximally positive-sum for the world, so it’s great to see moments when that actually happens,” he reiterated on Monday.
At press time, the MOODENG price soared by a whopping 151.54% to $0.0002164. The memecoin even erased a ‘zero’ during the surge and strongly maintained the $0.0002. In addition, the Ethereum-based token surged to a fresh all-time high of $0.0002651 in the past 24 hours.
