Solana Meme Coin Moo Deng Explodes Following Coinbase Listing, is Catslap Next?
Shares of Solana-based meme coin Moo Deng soared 87% following Coinbase’s landmark listing announcement.
In fact, the move sparked huge excitement, and Moo Deng is gearing up for another explosive rally after taking the market by storm in September.
MOODENG leads Meme coin rally
CoinGecko data shows that Moo Deng’s price surged 87% in the past 24 hours, bringing its market capitalization to $612 million.
This makes it the best performing meme coin today and caused BOME’s market cap to flip.
Coinbase announced the news on its Coinbase Assets X page, noting that Moo Deng has been added to the roadmap. It hasn’t launched trading yet, but previous memecoins listed on the roadmap typically go live on the same day.
When the San Francisco-based exchange lists a new meme coin, it signals that it believes the coin is legitimate, driving up its price. Not to mention that the exchange’s 100 million users can now buy it.
Coinbase’s smallest meme token is currently worth $2.1 billion
Frankdegods, a well-known cryptocurrency figure, pointed out that the currently least valuable meme coin on Coinbase is Floki, which is worth $2.1 billion.
Analysts believe this gives Moo Deng significant growth potential, especially given the meme coin’s association with the viral baby hippopotamus Moo Deng.
Mr. 1% said $2.1 billion is “fair value” for Moo Deng, but he also speculated that “as a super-viral animal, it’s now worth more than that.”
Coinbase’s listing has brought Moo Deng back into the spotlight. Today, its 24-hour trading volume reaches $1.1 billion, surpassing Bonk even though its market capitalization is five times larger.
Since the Coinbase listing is not yet live, we may see momentum pick up again in the coming days.
Moo Deng’s recovery this week highlights the importance of centralized exchange listings on the market, which is part of the reason why Catslap surged 66% in the past 24 hours.
Is Catslap the next Moo Deng? Announcement of CEX going online in two days
cat pat is a viral meme token that has seen its price soar 66% to $1 on anticipation of its upcoming exchange listing and heavy investment from institutional funds.
The token was launched on November 23 and took off quickly. However, after the market correction, it returned to the upward trend.
Investors are awaiting a “big announcement” in two days, which will reveal the centralized exchange on which Catslap will be listed. But with news yesterday that Chicago-based trading firm Jump Trading had invested $500,000 in $SLAP, excitement was running high.
Can Jump Trading’s internal contacts convince top exchanges like Coinbase and Binance to list the token?
Catslap recently made a splash with the launch of its “Slap-to-Earn” gamification experience, where users can select a character they want to slap, then get to work and earn $SLAP tokens.
Analysts have high hopes. Crypto June even says it can create millionaires.
The project also has a staking mechanism that encourages users to lock up their tokens for the long term. Another feature is its burning mechanism, which will reduce the circulating supply over time, making remaining $SLAP tokens more valuable.
This is not just an ordinary meme coin. It has all the hallmarks of a project comparable to Moo Deng and others.
