Robinhood Listing Boosts MOODENG and MEW Prices by 20%

Robinhood's decision to list two new Solana-based memecoins, MOODENG and MEW, has sparked a significant surge in their prices, with both tokens experiencing a nearly 20% increase within hours. The listing has reignited retail investor interest in the crypto market, triggering a wave of excitement and speculation among traders. The sudden surge in MOODENG and MEW's prices can be attributed to the increased accessibility and visibility that comes with being listed on a popular trading platform like Robinhood.

MOODENG, with its mascot—a perpetually confused-looking baby pygmy hippo—has become a viral sensation on social media platforms. The community, known as "The Herd," has been quite determined with their meme campaign, catapulting MOODENG from obscurity to a $230 million market cap in a few weeks. The Robinhood listing was the spark that ignited a powder keg of retail pent-up demand, and the stock rose 21% in a day.

MEW, on the other hand, has a devoted cult following. Hailed as "the cat that outsmarted the dog coins," MEW's clever branding and tongue-in-cheek mythos were a hit with day traders hungry for the next new thing. After its strong May, the Robinhood news propelled MEW another 19% higher, with social media channels in an uproar speculating as to where the coin would go next.

As listings news emerged, order books on large exchanges burst into life. Whale wallets swooped in, making six-figure buys. On-chain metrics saw the number of new wallets with MOODENG and MEW spike, suggesting a fresh batch of retail buyers. Activity on both coins tripled overnight, and social media reach reached all-time highs since launch.

It wasn't only retail traders piling in. Derivatives indicators revealed a focused blast of leveraged bets on further upside, with open interest in MEW futures at an all-time high. The tension was in the air — memes flew around, and stories of overnight gains circulated far and wide.

Robinhood's move comes at a time when the cryptocurrency space is already on edge, with Bitcoin teetering on new all-time highs and regulatory clouds starting to clear. Adding MOODENG and MEW is seen by most as a signal: the door is open to more speculative products, and retail traders are chomping at the bit to get back.

Traders are watching closely. When Robinhood recently added its most recent crypto, it set off a domino effect that saw dozens of altcoins trend upward. If things keep going as they are, MOODENG and MEW could be the beginning of another wave of retail-fueled rallies.

The Robinhood addition of MOODENG and MEW rekindled the meme coin mania for at least now. Prices are increased, and there's a sense of expectation in the air. For traders and for meme proponents both, it's evidence of just how quickly fortunes can change in crypto and how much gas one listing can feed the next big tear.