Moo Deng most valuable token on Pump.Fun

The recently launched Solana Pump. fun coin, Moo Deng, oscillates near not far from its record high as FOMO kicked in.

Moo Deng, a token with a hippo theme, rose to a record high of $0.35 on Saturday before moderating below the 0.25 cent level on Monday amid sell-offs in the crypto market. It is currently the most valuable token in the Pump. Fun network, with a market value of more than $248 million. About 420.69 billion tokens have already been issued.

Moo Deng is the name of a rare pygmy hippo from Thailand. Even at two months old, she is a social media sensation. Videos of the Khao Kheow Open Zoo in Chonburi have gone viral rapidly. All it took for the Solana community to turn her into a meme coin was that.

According to Solscan data, the holdings have reached 28.4K. The increasing number of holders indicates that traders experienced FOMO, or “fear of missing out,” because of the surge.

Whales gather such tokens as Lookonchain reports that a whale purchased Moo Deng tokens for about $1.6 million.

After the Fed cut interest rates and the Chinese government announced several stimulus measures, investors increased their appetite for risk

The zoo is not the only one benefiting financially from the popularity of the dwarf hippopotamus. The hippopotamus-themed token has proven too irresistible for the cryptocurrency-buying community.

The Khao Kheow Zoo has had thousands of visitors because of Moo Deng, or “bouncing pig” in Thai. In addition, the hippopotamus is widely available thanks to memes on the Internet and constant live feeds from the cage.

Numerous influential crypto people support Moo Deng. As stated by NansenAI’s founder, “Never bet against cuteness.” He parallels the Moo Deng phenomenon and Axie in 2020 and Pudgy in 2022.