Solana’s month-old meme coin sensation Moo Deng ($MOODENG) continues to make small-time crypto traders into millionaires.
This week, meme coin wallet tracker Kakashi delivered a follow-up to a wallet they had previously tracked.
The lucky investor had put $401 on Moo Deng a month ago only to watch their stash blow up to well over a million dollars, an unbelievable increase of 250,000%.
Cryptonews had previously covered this particular wallet when the stash ballooned to $420,000 end of last month.
If Moo Deng continues blowing up at this rate it could be in the top ten by market cap by the end of this year, although it will need at least several weeks of sustained hype.
$MOODENG: An Introduction and Analysis
Moo Deng launched last month and quickly rose to become one of the leading meme coins.
The token’s avatar references the eponymous adorable baby hippo internet sensation in Thailand’s Khao Kheow Open Zoo in Chonburi.
Her name means “bouncy pork” in the local lingo and the pygmy hippo went viral after various online videos surfaced showing her cute hyperactive demeanour and always moist appearance.
While it’s too early to identify definite trends in Moo Deng’s price, the token rapidly rallied to set a high watermark of $0.3387 on September 28 before dropping 63% to its current price.
In the last 24 hours, Moo Deng has dropped 6.3%, but it remains 4.7% pricier than it was this time last week.
Source: TradingView
A relative strength index (RSI) of 37 and falling suggests a recent selloff has dampened the growing momentum.
For the last week, Moo Deng has traded in narrow bounds between $0.10 and $0.15. If it fails to rally new support then the newcomer meme coin is likely to fall off the radar.
As Moo Deng Wobbles, Crypto All-Stars Presale Gathers Pace
Meme coins like Moo Deng are extremely volatile, which means although they’re fun and often profitable, their lack of clear fundamentals means traders often just exploit them for price rises.
However, over in the up-and-coming world of token presales, investors are diversifying their portfolios with protocol tokens that are adding new utility and generating rich rewards for meme coin holders.
One such project – a unified staking protocol for meme coin fans—is Crypto All-Stars ($STARS) a revolutionary platform that brings together the most celebrated meme coins in one place.
Holders of Pepe Coin, Dogecoin, Shiba Inu, Floki Inu, Based Brett, MogCoin, Milady, TurboToken, Toshi The Cat, Coq Inu, and BonkCoin can stake them in the MemeVault and earn passive income in the form of $STARS with a rewards rate currently set at 652%.
The team will integrate more meme coins later.
The project has gained so much popularity that its presale has already raised over $2.275 million.
Following the purchase, investors can begin staking for rewards and claim the tokens once the presale ends.
Head to the website to buy $STARS with ETH, USDT, BNB, or even by card.
Follow Crypto All-Stars on social media – X (Twitter) | Telegram to stay up-to-date on all the developments.
Visit the Crypto All-Stars Presale Website Here
The post How On-Chain Data Reveals a $401 Bet Turned Into $1.2 Million With Moo Deng Hippo Meme Coin appeared first on Cryptonews.
