Solana

Michi

Moodeng, the new viral internet meme animal recently found its home on the Solana blockchain in the form of the $MOODENG/SOL memecoin. It’s already testing a market cap of $40M only 11 days after the coin’s creation. 
Solana memecoin traders were already used to seeing cat and dog coins. However, after Moodeng became a viral internet sensation overnight, degens were quick to launch the baby hippo on Solana.&nbsp;&nbsp; 
<figure id="attachment_590776" aria-describedby="caption-attachment-590776" style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" decoding="async" class="wp-image-590776 size-full" src="https://www.cryptopolitan.com/wp-content/uploads/2024/09/moodeng.png" alt="Source: DexScreener" width="1581" height="734" srcset="https://www.cryptopolitan.com/wp-content/uploads/2024/09/moodeng.png 1581w, https://www.cryptopolitan.com/wp-content/uploads/2024/09/moodeng-300x139.png 300w, https://www.cryptopolitan.com/wp-content/uploads/2024/09/moodeng-1200x557.png 1200w, https://www.cryptopolitan.com/wp-content/uploads/2024/09/moodeng-768x357.png 768w, https://www.cryptopolitan.com/wp-content/uploads/2024/09/moodeng-1536x713.png 1536w" sizes="(max-width: 1581px) 100vw, 1581px">
 <figcaption id="caption-attachment-590776" class="wp-caption-text">
 Moodeng/Sol chart (Source: DexScreener)
 </figcaption>
</figure> 
At the time of this writing, Moodeng is trying to break above the resistance at $40M, with a total of 24000+ holders according to data by <a href="https://dexscreener.com/solana/22wrmytj8x2trvqen3fxxi2r4rn6jdhwomtpssmn8rud" rel="nofollow noopener" target="_blank">DexScreener</a>. 
<h3 id="span-style-font-weight-400-billy-gains-252-in-september-span">$Billy gains 252% in September</h3> 
<figure id="attachment_590782" aria-describedby="caption-attachment-590782" style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" decoding="async" class="wp-image-590782 size-full" src="https://www.cryptopolitan.com/wp-content/uploads/2024/09/billy.png" alt="" width="1583" height="724" srcset="https://www.cryptopolitan.com/wp-content/uploads/2024/09/billy.png 1583w, https://www.cryptopolitan.com/wp-content/uploads/2024/09/billy-300x137.png 300w, https://www.cryptopolitan.com/wp-content/uploads/2024/09/billy-1200x549.png 1200w, https://www.cryptopolitan.com/wp-content/uploads/2024/09/billy-768x351.png 768w, https://www.cryptopolitan.com/wp-content/uploads/2024/09/billy-1536x703.png 1536w" sizes="(max-width: 1583px) 100vw, 1583px">
 <figcaption id="caption-attachment-590782" class="wp-caption-text">
 Billy/Sol chart (Source: DexScreener)
 </figcaption>
</figure> 
Since the market took a more bullish turn recently, and Solana also pumped from $128 to $152 over the course of a week, several memecoins have also started recovering. 
Billy/Sol, for instance, went from a market cap of $15M (the local bottom) to $55.38 recently, marking a 252% increase. However, it looks like traders on Solana might be becoming tired of meme coins revolving around cats and dogs. 
<h3 id="traders-are-growing-tired-of-cat-and-dog-coins">Traders are growing tired of cat and dog coins</h3> 
This sentiment has been developing among the traders for a while now. We’ve already seen cat-based meme coins like Michi, Popcat, Mew, and Ginnan ruling the stage. 
On the other hand, there seem to be an endless list of dog meme coins besides Billy, such as Selfie, Dogwifhat, Bonk, and more. 
Solana traders have been desperately waiting for something new. As such, one user on Twitter pointed out that everyone is tired of the current meta. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <a href="https://t.co/nICEZryehG" rel="nofollow" target="_blank">https://t.co/nICEZryehG</a> fucked up memecoins just like how Blur fucked up NFTs. Memecoins are supposed to be funny im not here to see 300 cat and dog shits everyday and try to find gold from a dumpster. Everyone is tired of this, bring back hamster racing. 
 — Lil Kai (@Cath_Lil_Kai) <a href="https://twitter.com/Cath_Lil_Kai/status/1822060695204032577?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">August 10, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Similarly, another user mentioned that he’s tired of all these cat and dog memecoins manufacturing every second. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Tired of seeing all these cat and dog memecoins that are getting manufactured by the second. 
 — Winner (@Winner0fCrypto) <a href="https://twitter.com/Winner0fCrypto/status/1812251319320871353?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">July 13, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
The main reason why Billy pumped above a market cap of $220 million in July 2024 was that it offered a fresh narrative at that time, as the traders were growing tired of endless celebrity tokens and scams. At that time, Billy/Sol was more like a movement that defied the meta and rebalanced the market. 
Now that we’re seeing similar sentiments about Cat and Dog coins, Moodeng has come in and taken everyone’s attention. It’s fresh, unique, and it’s neither a cat, nor a dog. Rather, it’s a baby hippo that’s also going incredibly viral outside of the crypto world. 
That alone might be the only bullish factor that can allow Moodeng to join the likes of Billy and Michi on Solana.

MOODENG/SOL retests $40M market cap – Will it join the ranks of Michi and Billy?

Table of Contents

Cryptopolitan_News

Other articles published on Sep 21, 2024

Firedancer Now Operational on Solana Mainnet, Showcasing Breakthrough Transaction Processing Capa...

Binance Demands Release of Executive Before Meeting Nigerian Crypto Regulations: Report

Circle Eyes IPO Launch in 2025 with Plans to Relocate Headquarters

JPMorgan Predicts Massive Rate Cut: Bitcoin Set to Skyrocket?

SEC greenlights options trading for BlackRock’s iShares Bitcoin trust

Coinpedia Fintech News

Join our free newsletter for daily crypto updates!