Moo Deng Meme Coin: Crypto Trader Turns $800 into $400K in a Week

An unidentified cryptocurrency trader saw their investment skyrocket 500-fold in just one week by leveraging the momentum around the meme coin, Moo Deng (MOODENG).

On September 10, the trader placed an initial bet of $800, trading the MOODENG/SOL pair on Raydium, an automated market maker (AMM) platform built on Solana (SOL). According to data shared by blockchain analysis platform Arkham on September 17, this investment turned into a staggering $400,000 within seven days.

“The trader initially swapped 6 SOL, valued at approximately $800, for MOODENG tokens using the decentralized exchange’s platform,” Arkham reported. “The swap was initiated when MOODENG was on the brink of what appeared to be a typical pump.”

Trader turns $800 into $400K on MOODENG

The top holder of MOO DENG, named after the viral Thai baby hippo, bought 6 SOL of the token as it left pump fun.

After only a week, his stack is now worth $400K.

That’s 500x. pic.twitter.com/brNSVjs0lW

— Arkham (@ArkhamIntel) September 17, 2024

The explosive surge in MOODENG’s value was inspired by social media virality, yielding a 500x return on the trader’s original investment. As of now, MOODENG is witnessing increased buying activity, trading at $0.0163, reflecting a 24-hour gain of almost 120%, reported Finbold.

MOODENG, named after a baby pygmy hippo at Khao Kheow Open Zoo in Thailand, has become an internet sensation. The hippo’s photos and videos have captivated internet users, leading to a surge in related memes. The creators of MOODENG have tapped into the rising trend of launching meme coins on popular networks, with Solana becoming a favored platform for such projects.

Related Stories:

$PUNDU: Solana Crypto Trader Loses $138,000 in 35 Minutes Meme Coin Market Plummets 50% from $1 Billion After Profit-Taking Spree Elon Musk’s X Update Stirs XRP and Meme Coin Enthusiasts PEPE Coin Soars 70% in a Week, Surpassing $1 Billion Market Cap Altcoin Avalanche: SOL, AVAX, and Meme Coins Lead Crypto Charge Dogecoin Price up 4% After Elon Musk Teases Meme Crypto Banter With Rupert Murdoch at Super Bowl VIP box Elon Musk tweets about PEPE meme coin, sends price soaring by 50% in a day Dogecoin Price up 10% – Which Meme Coin Will Jump Next?