Moo Deng (MOODENG) Price Jumps 60% Following Upbit’s Memecoin Reversal
Moo Deng (MOODENG), a lesser-known memecoin, stunned the crypto world this week with a massive 60 % price surge. The rally came shortly after Upbit, South Korea’s largest exchange, made a surprising decision to list Moo Deng, reversing its earlier stance on memecoins.
So, what triggered this sudden climb, and what does it mean for the memecoin market?
What led to the 60 % price jump?
On July 3, Upbit announced official trading support for Moo Deng, including spot listings for the MOODENG/KRW pair. Within hours of the news, trading volume exploded, and the price jumped from $0.000006 to over $0.0000098, a 60 % spike.
But why such a dramatic reaction?
The listing marked a key shift in sentiment. Just weeks earlier, Upbit had delisted several memecoins due to concerns over low liquidity and unclear tokenomics. Moo Deng’s inclusion is now seen as a turning point in Upbit’s memecoin policy.
Is this only about Moo Deng?
Not quite. The announcement created a ripple effect across the broader memecoin market. According to data from CoinMarketCap and TradingView, other coins like Dogwifhat (WIF) and Brett (BRETT) also saw brief upticks. Investors appear to be betting on a wider memecoin rebound.
So why is Moo Deng getting all the attention?
Simple, Moo Deng had been flying under the radar, trading with relatively low volume and attention. Upbit’s endorsement gave it instant legitimacy, especially in Asia’s highly active retail trading scene.
How big was the price shift?
Let’s talk numbers:
- Price surged by 60 % in a single day
- Market cap grew from $50 million to over $323 million, according to data from CCN
- Trading volume reached $68 million within hours, most of it coming from South Korea
- Moo Deng entered the top 5 trending tokens on CoinGecko in Asia
These stats reflect not just hype, but serious money flowing into the coin.
Why is Upbit’s move important?
Upbit is one of the most influential exchanges in Asia, especially for memecoins. When they list a project, it often sees rapid traction. The Moo Deng listing suggests Upbit may be testing the waters for a new wave of memecoins, which could include other underdog projects waiting for visibility.
What’s more, this move contradicts their earlier caution. Just last month, Upbit issued warnings on speculative tokens and pulled several smaller coins from its platform. Moo Deng now seems to be the exception.
Is this just a short-term pump?
That’s the big question. Some analysts are warning that Moo Deng could follow the same pattern as other memecoins, a rapid rise followed by an equally quick drop. However, others argue that the coin’s sudden institutional support, combined with growing community hype, could lead to longer-term traction.
According to FXStreet, the coin’s “strong meme culture and loyal community” may keep it relevant beyond the usual pump-and-dump cycle.
What does it mean for crypto investors?
- Retail interest in memecoins is returning, especially in Asia
- Exchange endorsements still matter; Moo Deng’s listing proves how quickly sentiment can shift
- The memecoin narrative is evolving, with platforms like Upbit slowly warming up again
Final thoughts
The story of Moo Deng isn’t just about one coin going viral. It signals a changing tide in how major exchanges handle speculative assets. Whether this leads to a memecoin revival or fizzles out will depend on whether Moo Deng, and others like it, can sustain community interest and deliver updates beyond the memes.
One thing’s for sure: The Moo Deng herd has everyone watching.
Disclaimer
This content is for informational purposes only and not financial advice. Always conduct your research.