Meme Coin MOODENG Surges 612.3% in Week, Reclaims $263.8M Market Cap

MOODENG, a Solana-based meme coin, has reclaimed the spotlight in the cryptocurrency market with a remarkable surge in its value and trading volume. Over the past week, the meme coin experienced a 612.3% increase in price, driven by consecutive price pumps since last Thursday. This surge has positioned MOODENG as the top trending token on CoinGecko and the top gainer in the market.

MOODENG's meteoric rise can be attributed to its viral appeal, which was initially sparked by the internet hype surrounding a baby pygmy hippo. The meme coin's market capitalization quickly surpassed $100 million just weeks after its launch in September 2024. However, after reaching an all-time high in November, MOODENG entered a prolonged decline, with its market cap plummeting to around $20 million by early April. The recent surge has brought its market capitalization back above the $100 million mark, currently standing at $263.8 million.

The token's appeal has extended beyond retail investors to "smart money." Strategic investors poured significant funds into MOODENG, further fueling its momentum. According to a post on X by StalkHQ, these investors accumulated 25% of the supply of MOODENG, with a cumulative unrealized profit of $25.3 million. The token's recent listing on Binance Alpha has also catalyzed significant retail investor interest, contributing to its meteoric rise.

Google Trends data reflected a parallel surge in public curiosity, with search interest for "MOODENG" reaching a peak score of 100. This indicated growing online attention and suggested another wave of viral momentum. The token's price has surged by 104.3% over the past day alone, trading at $0.24, marking its highest price in over four months. The increased trading activity and investor interest have underscored MOODENG's strong comeback in the cryptocurrency market.