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Coinbase Listing Announcement Sends MOG Value Soaring Near All-Time High
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Coinbase Announcement Sends MOG Price Soaring
MOG, an Ethereum-based meme coin, surged over 20% in value following Coinbase’s announcement on 3 December that it plans to list the token on its exchange.
The news initially sent MOG’s price to $0.00000243. As of now, the price has slightly adjusted to $0.000002418.
In the past six hours, MOG has ranked as the 9th most trending token on Ethereum, according to DexScreener.
With a market cap nearing $1 billion, MOG has secured a spot within the top 150 cryptocurrencies by market value, as seen on CoinGecko.
Meanwhile, Binance was also spotted accumulating $1.4 million MOG tokens.
Rapid Growth Since Early 2024
MOG's rapid rise began in February 2024, with a modest market cap of $50 million that skyrocketed to over $475 million by mid-March.
The meme coin has since become a notable player in the market, largely propelled by its connection to broader meme coin success.
By November 2024, MOG hit a significant milestone, crossing a $1 billion market cap.
Meme Coin Culture Driving Popularity
Known for its association with playful emojis like the laughing cat and pointing finger, MOG taps into the meme coin culture, which has gained massive traction this year.
Meme coins, often inspired by internet culture or viral moments, have surged in popularity, with the sector now boasting a collective market cap exceeding $125 billion, as per CoinGecko data.
MOG currently ranks in the top 10 meme coins by market cap, though it's currently 16.5% below its all-time high.
Coinbase Shifts MOG to Base Layer-2
Coinbase's decision to list MOG on its layer-2 solution, Base, is noteworthy.
Base offers traders lower fees and faster transaction speeds, providing an attractive environment for MOG’s growing community.
The announcement comes just days after Coinbase added Solana-based meme coin MooDeng (MOODENG) to its roadmap, triggering an 80% spike in its value.
As of writing, MOG has been listed on Coinbase.
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