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- A trader turned 6 SOL into $9.4 million, achieving an 11,534x profit with MOODENG.
- MOODENG, inspired by Thai celeb hippopotamus “Moo Deng,” is gaining massive traction on Solana.
MOODENG, a Solana-based meme coin, is currently capturing the interest of the crypto community because of its rapid surge in value. Lookonchain data shows that, a specific wallet address spent 6 SOL (about $815) to purchase 30.1 million MOODENG tokens.
In a surprising turn of events, the value of this investment rose to an amazing $9.4 million just in 17 days, representing an impressive profit of 11,534x. MOODENG draws inspiration from the famed Thai Internet celebrity hippopotamus “Moo Deng,” giving the story a unique cultural flavor.
This guy spent only 6 $SOL($815) to buy 30.1M $MOODENG 17 days ago, now worth $9.4M, a 11,534x return! #Moodeng https://t.co/83CP9Vn3jb pic.twitter.com/zJpCFAr3rQ
— Lookonchain (@lookonchain) September 28, 2024
MOODENG Rapid Growth Attracts Thousands of New Investors
The rise in value is not solely due to one trader’s remarkable gains. The meme coin has acquired substantial traction in recent weeks, with over 14,900 distinct wallet holders. This increased interest has resulted in an amazing trading volume of $63 million in only the last 24 hours.
MOODENG’s market cap was $121 million on September 26, 2024. Another famous success story concerns a trader who increased his initial investment of $1,331 to an astounding $3.4 million, resulting in an incredible 2554x return.
MOODENG’s growth trajectory has established it as one of the most important meme coins of the current market cycle. The token’s market cap steadily surged beyond $300 million before a fall, resting at roughly $240.29 million as of writing.
MOODENG is the first meme coin in the recent quarter to reach this milestone, joining established names such as Shiba Inu (SHIB) and Dogecoin (DOGE). Achieving this level of capitalization demonstrates its growing significance and potential in the meme coin ecosystem.
MOODENG is currently rated as the 23rd largest meme coin by market capitalization, solidifying its position among the more established tokens in this sector. The token has seen a trading volume of about $152.46 million in the last 24 hours, strengthening its position as a major player in the meme currency arena.
Given its rapid growth and increased trading activity, MOODENG is still a favorite among cryptocurrency investors and traders.
Interestingly, while MOODENG’s ascent has been amazing, it is not the only meme coin gaining traction. According to a CNF report, the dog-themed meme tokens Dogecoin (DOGE), WIF, and BONK have led the meme coin market in terms of daily growth.
Both WIF and BONK, which are also built on the Solana blockchain, have shown durability in their performance, while DOGE’s revived activity indicates that interest in meme coins is growing again.
