The meme-based cryptocurrency, Moo Deng, experienced a dramatic uptick of 80% within an hour following its listing announcement by Coinbase. Coinbase, a leading exchange platform widely regarded as a significant mainstream onboarding point for cryptocurrencies, revealed its plans to list Moo Deng on its platform.
The sudden surge in value is not unfamiliar in the cryptocurrency world, especially following major endorsements or announcements. This phenomenon underscores the volatile yet highly responsive nature of the digital assets market.
Coinbase’s announcement triggered a swift response from investors and enthusiasts propelling Moo Deng’s value to soar. Moo Deng belongs to an emerging class of cryptocurrencies labelled as ‘meme coins’, a category that has gained notoriety following the massive success of Dogecoin.
The quick surge in Moo Deng’s value highlights the power of such major exchange listings, and the significant impact they can have on a cryptocurrency’s market performance.
Last modified: December 5, 2024
