Moo Deng (MOODENG), a meme coin built on the Solana blockchain, has experienced an explosive rally, with its price jumping over 600% in May 2025 and more than 114% in a single day following its listing on Binance Alpha.
The coin, inspired by a viral Thai pygmy hippo, hit a peak of $0.28 in the past 24 hours, now trading around $0.267, while posting a dramatic increase in trading volume (up 416.3%) and futures open interest (rising 120% to $276 million). Market enthusiasm is further fueled by the overall popularity of meme coins and the growing influence of Solana-based tokens. The listing on Binance Alpha and a similar surge by another meme coin, GOAT, indicate heightened trader attention and investor activity in this segment.
The current momentum mirrors previous market rallies seen in both January 2025 and November 2024, with analysts speculating that Moo Deng could rise even further—potentially up to $0.84. The ongoing discussion within the crypto community centers on the sustainability of such rapid gains, acknowledging both strong investor enthusiasm and underlying risks associated with meme coin volatility.
Despite the impressive price action and positive sentiment, experts advise caution moving forward. The rally highlights both the increased importance of meme coins on the Solana network and the continued market trend toward speculative trading based on viral and cultural phenomena.