Moo Deng Meme Coin Surpasses $100 Million Market Cap

According to PANews, a newborn hippopotamus named Moo Deng at Bangkok's Khao Kheow Zoo has become an internet sensation, leading to the creation of a meme coin based on the Solana blockchain. The market capitalization of this coin has now exceeded $100 million. Moo Deng's adorable antics have captured the hearts of many online, contributing to the coin's rapid rise in popularity. Udomsak Rakwongwan, a professor at Thailand's Agricultural University and co-founder of the decentralized exchange FWX.Finance, noted that this is the first Thai-themed token to reach such a market value, even though it is not a Thai project. As of Wednesday, the fan page for the token reported that the number of holders had surged to 12,400 unique wallets, with a trading volume exceeding $48.5 million in the past 24 hours. One trader made millions from the MOODENG token, with Lookonchain data showing that an early investor turned $1,331 into $3.4 million in just 15 days, achieving a return rate of 2,554 times. Moo Deng was born in July and became an internet celebrity after her photos went viral earlier this month. She has two siblings, Moo Toon and Moo Waan. While meme tokens named after her siblings have been issued on Solana and other networks, they have not garnered the same level of attention. Companies like Dreamworks and UFC are leveraging Moo Deng's popularity to create hippo-themed emojis, moving away from the usual cat or dog themes. Reports indicate that Bangkok Zoo is applying for copyright and trademark for 'Moo Deng Hippo' to raise funds. However, the zoo has not yet acknowledged the meme coin or any Moo Deng-related cryptocurrency images.