Moo Deng (MOODENG) has made a splash. The Solana-based token, inspired by Thailand’s beloved baby hippo, skyrocketed nearly 90% on Friday, attracting traders and investors across the crypto market. Binance’s latest move to expand trade offerings for Moo Deng, including a USD-margined perpetual contract, has fueled this wave of optimism.
Binance Debuts MOODENG Futures With 75x Leverage
The buzz surrounding Moo Deng’s impressive gains is largely driven by Binance’s announcement on October 25 to launch the MOODENGUSDT USD-margined perpetual contract. The listing, available as of 10:00 UTC, provides traders with the option of up to 75x leverage, allowing users to significantly amplify potential gains. Binance also set the contract’s funding rate at +2.00% / -2.00% and assigned a precise tick size of 0.00001.
With the contract address revealed for transparency, this futures listing empowers investors to leverage the asset on an unprecedented scale. Binance, however, cautioned that market risk conditions may prompt adjustments to the contract’s funding fee, tick size, leverage limits, and margin requirements. Yet, the announcement has resonated across the crypto world, with traders flocking to MOODENG as they seize the opportunity to ride the bullish trend.
MOODENG’s Price Skyrockets Amid Trading Frenzy
Following Binance’s announcement, Moo Deng’s price witnessed a nearly 100% intraday surge, hitting $0.1388 from an initial low of $0.06547. The token’s trading volume has experienced an astounding 141% increase, indicating heightened interest among traders.
Supporting this momentum, Coinglass data reveals that the Moo Deng futures open interest (OI) surged by 173% to reach $57.47 million. Meanwhile, the coin’s derivatives volume has jumped by 234%, totaling a remarkable $327.77 million. This exponential growth reflects a robust investor demand for Moo Deng, further cementing the token’s position in the broader crypto landscape.
What’s Behind the Moo Deng Hype?
With meme coins, social media influence and a strong community backing often play a huge role in driving demand. Moo Deng’s origin story—a lighthearted tribute to a Thai baby hippo—offers a unique charm that resonates with the meme coin market. Binance’s recent futures listing of Goatseus Maximus (GOAT), another meme token, suggests the exchange is responding to the increasing demand for meme-based assets. Binance’s influence in the market often boosts the price trajectory for newly listed coins, with Moo Deng now in the spotlight.
Also Read: Moo Deng (MOODENG) Surges 60% In 24 Hours – Can It Reclaim Its $300M Market Cap?
Moo Deng’s recent price action and futures listing have spotlighted it as one of the most promising meme coins in the Solana ecosystem. However, the volatility of meme coins means potential investors should be cautious. Factors like sudden changes in market conditions, liquidity levels, and trading sentiment could impact MOODENG’s value.
For now, MOODENG continues to capture the attention of traders and crypto enthusiasts eager to capitalize on this bullish trend. Binance’s influence, combined with a community rallying around an iconic baby hippo, could make Moo Deng one of the defining meme tokens of the Solana blockchain this year. As the excitement around MOODENG futures unfolds, traders will be watching closely for its next big move in the meme coin market.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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