Coinbase announces potential listing for memecoin MOODENG
The memecoin Moo Deng (MOODENG) will be added to its roadmap for a potential listing by popular cryptocurrency exchange Coinbase, the company announced in a post.
Assets added to the roadmap today: Moo Deng (MOODENG)https://t.co/rRB9d3hSr2
— Coinbase Assets 🛡️ (@CoinbaseAssets) December 2, 2024
Although an official listing date has not yet been confirmed, this move implies that Coinbase is considering the token for potential future inclusion on its platform.
MOODENG price surges following the news of its potential listing
As of the time of writing, MOODENG was trading at about $0.6026, up 99% over the previous day, according to cryptocurrency price tracker CoinGecko. The market value of the token is more than $596 million.
MOODENG's increasing appeal is driven by market anticipation
The spike in the token price is a result of increased market interest and growing investor optimism. Although MOODENG is on Coinbase's roadmap, the platform has not yet made official trading and transfer support available, pending additional changes. However, there has been a lot of momentum due to the market's excitement about its eventual release.
The memecoin market has been rising lately as major exchanges like Coinbase and Kraken are increasingly entering this space. Since these platforms aim to capitalize on the rising demand for unique and culturally relevant digital resources, MOODENG's inclusion highlights this trend.
Additionally, Binance Futures has added MOODENG to its product line by launching a perpetual contract for the token. This move significantly raised demand for the memecoin, which at the time caused its price to rise by about 120%. Because futures contracts offer high-leverage trading opportunities, they have significantly contributed to the token's growth.
About memecoin Moo Deng
MOODENG, a cryptocurrency derived in Solana, is a pygmy hippopotamus of the same name that lives at Thailand's Khao Kheow Open Zoo. She became well-known online in September of this year due to her charming personality, small stature, and adorable features.
Following the token's September 11 launch, MOODENG even caused a volume spike on the memecoin launchpad Pump.fun. The meme coin MOODENG, which was based on the well-known pygmy hippo Moo Deng, made a spectacular debut on the cryptocurrency exchange Binance in October.
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