Moo Deng crypto surges over 114% after Binance Alpha listing

Moo Deng crypto has skyrocketed by more than 114% following its recent listing on Binance Alpha. The meme coin has been on an ongoing rally since mid-May with a spike in futures open interest.

According to data on crypto.news, the Solana (SOL)-based token featuring the viral Thai pygmy hippo Moo Deng (MOODENG) has soared as high as $0.28 in the past 24 hours. At press time, the token has gone up by 114.3% in the past day. The meme coin is currently trading hands at a price of $0.267. However, it is still around 60% shy of its previous all-time high

In the past few days, the token has skyrocketed to new heights previously seen earlier in January. So far, Moo Deng crypto has jumped over 576% in the past week and nearly 970% in the past month.

Moo Deng has also seen a massive surge in trader activity following its recent rally. Compared to the previous trading day, Moo Deng’s trading volume has increased by 416.3%. This indicates a renewed interest in the token among traders.

In addition, the ongoing surge also coincides with a nearly 120% spike in the token futures open interest, hitting $276 million, according to data from CoinGlass. Just three days ago, Moo Deng crypto’s open interest was still around $125 million, following a meteoric 440% surge from only $13.4 million. Now, its open interest has more than doubled that amount.

This price surge in Moo Deng crypto could be due to the token’s recent listing on Binance Alpha. On May 11, the crypto exchange’s pre-listing token selection pool announced that it would be listing MOO DENG alongside the AI-inspired meme coin GOAT (GOAT). Similar to Moo Deng’s surge, GOAT also experienced a significant boost; rising as high as 70% shortly after the notice was posted.

Moo Deng crypto’s origins

Launched in September 2024, MOODENG is a Solana-based meme coin inspired by a viral pygmy hippopotamus calf from Khao Kheow Open Zoo in Thailand. The hippo, nicknamed Moo Deng, went viral on social media, particularly TikTok, for its charm and adorable expressions.

Last April, local media outlets reported that Suvarnabhumi Airport workers began giving away plush dolls of the iconic hippo Moo Deng to visitors for free in honor of the nation’s Songkran festivities. Songkran is a local festival that celebrates the traditional Thai New Year, held in April and marked by the throwing and sprinkling of water.