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Moo Deng, a baby pygmy hippopotamus from the Kheow Open Zoo, has taken over the internet with its cuteness and playful behavior. This popularity of the internet meme is now part of the crypto industry as a Moo Deng memecoin. Interestingly, it has also gained instant popularity, where the token has surged more than 900% since then. Even one crypto trader has made the best use of this crypto trading opportunity as his investment grew from $800 to $400K.
Crypto Trading With Moo Deng Made 500X For Investor
Arkham, a well-known analytics platform, has brought everyone’s attention to this anonymous crypto trader who made 500x profit in just one week after investing in Moo Deng memecoin. The analytics platform revealed that the crypto investor invested 6 SOL ($800) on September 10 in the MOONDENG/SOL pair.
Trader turns $800 into $400K on MOODENG
The top holder of MOO DENG, named after the viral Thai baby hippo, bought 6 SOL of the token as it left pump fun.
After only a week, his stack is now worth $400K.
That’s 500x. pic.twitter.com/brNSVjs0lW
— Arkham (@ArkhamIntel) September 17, 2024
Within a week, the investment grew to $400,000 after the Moo Deng price grew 900% within a week, shocking the netizens. However, he is not the only one with such heavy gains, as many similar traders made millions in profits with such newly launched tokens.
The crypto market has been on the recovery trail since the revelation of the Fed’s 0.50% interest rate cuts. It has boosted the global market capitalization to $2.21 Trillion with a trading volume of $90 Billion. More importantly, the biggest recovery is in the user sentiments, which have turned Neutral from the early fear.
The biggest cryptocurrencies, like Bitcoin and Ethereum, have also witnessed quite a boost, with the BTC price sticking around the $63K mark and the ETH over the $22.5K.
How Is Moo Deng Memecoin Performing Today?
Moo Deng’s rising popularity has given flashbacks of many Solana meme coins like WIF, Popcat, and many others, which also blew in demand similar to this. As the creators have introduced this token recently, it blew 190% within the first 24 hours, rewarding its early buyers, where it is currently trading at $0.0000004133 with a market capitalization and trading volume of $1.6M and $1.8M per Dexscreener.
It indicates its constant demand, where the token has formed higher and higher peaks with time. Additionally, the listing on many popular crypto exchanges, including Raydium and others, is also boosting the Moo Deng price.
Final Thoughts
In a successful crypto trading environment, a crypto trader has made 500x profit on its initial investment. He has barely invested $800 in the form of 6 SOLs and turned that into $400K, showcasing how the right opportunities bag heavy gains regardless of market conditions. This happened after a two-month-old baby pygmy hippopotamus went viral on the internet, and the same is happening in the crypto market as well.
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