MOODENG Price Soars 653% in 12 Days, Hits $0.29 With Market Cap Above $305M

MOODENG, a Solana meme coin, surged by 652.8% over a 12-day period. The MOODENG price increased from approximately $0.03981 to $0.29966, based on the chart data ending at 22:31:47 UTC. The latest high marks the token’s strongest price level in at least four months, and possibly since its all-time high in November 2024. The sharp rally began in late April and accelerated in early May. The price breakout was accompanied by strong volume, which peaked above $522 million during the rally. The steep rise also pushed MOODENG well above its 200-day moving average, suggesting a reversal from its previous downtrend. MOODENG Trading Volume Nears $1B With U.S. Traders Leading Activity As of May 11, the MOODENG token recorded a 24-hour trading volume of $998.52 million, according to market data. This marked a significant spike in daily activity and placed the Solana-based meme coin among the most traded assets in the market. Coinbase accounted for 27% of this volume, suggesting a strong level of engagement from U.S.-based investors. Other centralized exchanges and decentralized platforms contributed the remaining share, indicating wide distribution across trading venues. The spike in volume accompanied a sharp price rally and renewed interest in the token. This rise also coincided with MOODENG topping CoinGecko’s trending and gainer charts during the same period. Market Cap Matches Fully Diluted Valuation at Over $305 Million The MOODENG market capitalization reached $305.28 million, now equaling its fully diluted valuation (FDV). The 1:1 ratio is due to the entire token supply being in circulation. The project reports a circulating supply of 989,971,791 tokens, which is also the total and max supply. This means no additional MOODENG tokens remain to be unlocked or distributed. Because the supply is fully released, market participants are pricing the entire valuation based on the current price, with no inflation risk from future emissions. On-Chain Activity Shows Smart Money Entering MOODENG Data from Solscan showed that decentralized exchange (DEX) buy volume for MOODENG increased 8,201% in one week. The volume moved from $179,490 to $14.9 million as of May 11. According to a post by StalkHQ on X, smart money wallets purchased $194,000 worth of MOODENG on May 10. These addresses are often linked to informed or strategic investors. HolderScan reported that 165 wallets now control 25% of the total MOODENG token supply. These wallets have a combined unrealized profit of $25.3 million, based on current prices. Coinbase Activity Aligns With MOODENG Price Surge and Global Search Spike MOODENG price movements gained momentum beginning May 9, coinciding with increased visibility across major platforms. Coinbase handled 27% of the token’s $998.5 million trading volume on May 11, reflecting concentrated U.S. interest. This activity placed Coinbase as one of the largest contributors to MOODENG’s market exposure. Alongside Coinbase flows, the MOODENG listing on Binance Alpha further broadened the token’s reach, allowing access for a wider global audience. These exchange appearances aligned with sharp price increases and heightened trading activity. Search trends followed a similar trajectory. Google Trends data showed that interest in “MOODENG” reached its maximum score of 100 on May 12. The surge was not limited to one region. High search volumes were recorded in the United States, India, and parts of Southeast Asia, suggesting growing retail engagement across multiple markets. The combination of centralized exchange listings, consistent price growth, and search momentum positioned MOODENG as one of the most visible assets during the second week of May. What Is MOODENG Coin? MOODENG is a meme coin built on the Solana blockchain, launched on September 11, 2024. It is based on the real-life story of Moo Deng, a baby pygmy hippopotamus born in July 2024 at Khao Kheow Open Zoo in Thailand. Moo Deng went viral on social media after videos of her playful behavior gained attention, leading to the creation of the MOODENG token. The coin has a fixed supply of 989.97 million tokens and operates with 0% buy and sell tax. This makes it accessible to traders who want to avoid transaction fees. In addition, the project team donates 100% of trading fees collected on the Moonshot app to the Khao Kheow Zoo, directly linking the coin to its real-world inspiration. There are other tokens named MOODENG on blockchains like Ethereum and Base, but the Solana version is the primary one. Its market cap has reached $305 million, while its Ethereum version holds just $7.5 million. To avoid confusion, traders are advised to verify the Solana token address using platforms like CoinGecko or GeckoTerminal. Moo Deng’s rise in popularity has also helped increase foot traffic to the zoo and brought the project attention from major media outlets including the BBC and The New York Times. One early investor reportedly turned $800 into $3.5 million, further fueling public interest in the token.