Coinbase Reveals Plan To List Solana’s Moo Deng, Price Surges 70%

Ronny Mugendi
December 2, 2024
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Coinbase Reveals Plan To List Solana’s Moo Deng, Price Surges 70%

Highlights

  • Moo Deng (MOODENG) surged 70.31% to $0.6123 within 24 hours after Coinbase's listing announcement.
  • MOODENG trading volume soared 400%, reaching $751M, reflecting increased investor interest following Coinbase's roadmap inclusion.
  • Coinbase's Experimental label may apply to MOODENG, ensuring transparency and alignment with Asset Hub's compliance and security standards.

Coinbase, a leading crypto exchange, has announced its plan to list Moo Deng (MOODENG), a meme coin on the Solana network, as part of its asset expansion strategy. This decision underscores Coinbase’s commitment to offering a diverse range of digital assets, providing traders with broader opportunities for engagement in the cryptocurrency ecosystem.

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Moo Deng Price Surges 70% Following Coinbase Listing Plan

Following Coinbase announcement, Moo Deng (MOODENG) experienced a remarkable 70.31% surge in price within 24 hours, reaching $0.6123. The sharp increase reflects a boost in market enthusiasm, likely spurred by Coinbase’s influence as a major trading platform.

The trading activity surrounding Moo Deng also experienced a notable uptick. Within the same 24-hour period, the token’s trading volume rose by 400%, reaching $751 million. This rise indicates heightened investor interest and a wave of activity among traders.

However, it is essential to note that while the exchange has included Moo Deng in its roadmap, trading and transfers for the token are not supported until the official listing is announced. This practice ensures compliance with regulatory and technical preparations required for asset integration.

The Moo Deng meme coin operates on the Solana blockchain, a network known for its efficiency and scalability. Simultaneously, the top exchange also included QCAD, an ERC-20 token from the Ethereum blockchain, in its roadmap.

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Experimental Label and Asset Hub Standards

More so, Coinbase recently introduced an Experimental label, which may apply to newly listed assets, including Moo Deng. This label indicates assets that are in the early stages of adoption or testing, providing transparency to users about the nature of the assets.

In line with its Asset Hub initiative, Coinbase aims to list every asset that meets its legal, compliance, and technical security standards. These criteria are focused on the integrity of the platform rather than the market capitalization or popularity of the tokens. 

Last month, FLOKI price rallied after being added to the top exchange listing roadmap, reaching a five-month high. The inclusion sparked increased interest among traders, with the token gaining 12% in 24 hours and nearly doubling over the week. 

Most recently, the Solana meme coin price soared 26% following its listing on the Asian crypto exchange OKX.

At press time, Moo Deng (MOODENG) price experienced a slight decline but remained strong, trading at $0.5402. The token has maintained significant gains following the announcement, with a 50% increase in price over the last 24 hours.

 

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.