Meme Coin Update: Large Investors Elevate MOODENG Value, Arthur Hayes Embraces Meme Culture

Receive your weekly, concise summary of meme coin developments – this week, we explore MOODENG, the latest acquisitions by Arthur Hayes, and more!

This week, read about:
• Meme Coin News: Market Overview
• MOODENG Rises 400% as Whales Invest Millions
• Gotbit Hedge Fund and SunPump Collaborate to Enhance Meme Coin Sector
• Arthur Hayes Acquires PEPE, MOG, PONKE

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Meme Coin News: Market Overview

In the last 24 hours, the market capitalization of meme coins has declined by 3%, now standing at $55 billion.

During this timeframe, most meme coins have experienced price reductions.

Neiro on ETH (NEIRO) recorded the largest drop of 16.4%, bringing its price to $0.072.

Following this is Bellscoin (BEL), which fell by 15.4% to $0.9031, and Basenji (BENJI)

Three additional coins experienced double-digit declines, while the remainder fell by less than 8% each.

Conversely, the standout performer of the day is Smoking Chicken Fish (SCF), which increased by 30.7% to $0.09412.

This is followed by a 30% rise in Baby BNB (BABYBNB), while other coins on the positive side recorded gains below 20%, with most under 5%.

Only four of the top 10 coins have seen their prices rise during this period.

Source: cryptonews.com/coins/meme-coins/

Dogwifhat (WIF) leads this list with a nearly 6% increase, now priced at $2.44.

BONK and MEMECOIN follow with rises of 4% and 3%, respectively, while PEPE saw an increase of less than 0.5%.

On the downside, Baby Doge Coin (BABYDOGE) experienced the largest decline in this category at 6%, followed by TURBO with a 4.7% drop.

The top two coins by market cap are also down today. Dogecoin (DOGE) fell by 2.9% to $0.12265, while Shiba Inu (SHIB) decreased by 3.84%, trading at $0.00002.

MOODENG Rises 400% as Whales Invest Millions

The newly launched Moo Deng (MOODENG) coin has experienced a significant increase in both popularity and price over the past week.

This Solana-based coin was introduced on September 11, less than 20 days ago, and is inspired by the adorable Thai baby pygmy hippo named Moo Deng.

Now, let’s discuss the price.

In the last 24 hours, MOODENG appreciated by 5.8%, trading at $0.2355.

Remarkably, it surged 406% over the past week.

It reached its all-time high of $0.3387 on September 28, but has since fallen by 28%.

This weekly growth has allowed it to outperform the broader crypto market and the meme coin sector specifically.

Source: coingecko.com

Most traders are buying and trading the coin on XT.COM, where the most active trading pair is MOODENG/USDT, with a trading volume of $4.2 million in the last 24 hours.

Its 24-hour trading volume is $152.9 million. With a circulating supply of 990 million MOODENG, its market capitalization stands at $233.56 million, placing it at 262nd position.

MOODENG gained significant attention globally – in both crypto and traditional finance publications – when a trader turned a $1,300 investment into $3.4 million.

However, many have raised questions regarding the legitimacy of this gain and the feasibility of cashing it out.

This individual was not the only one achieving substantial profits.

This person invested only 6 $SOL ($815) to acquire 30.1M $MOODENG 17 days ago, which is now valued at $9.4M, yielding an 11,534x return! #Moodeng https://t.co/83CP9Vn3jb pic.twitter.com/zJpCFAr3rQ

— Lookonchain (@lookonchain) September 28, 2024

Whales continue to invest thousands – even millions – into the project.

Incredible buying activity for #MOODENG!
A whale withdrew 2,000 $SOL ($311K) from #OKX to purchase $MOODENG again!
To date, the whale has spent 27,848 $SOL ($4.34M) to acquire 17.73M $MOODENG at $0.245, becoming the second-largest holder of $MOODENG. https://t.co/MNpTOqbZ6z pic.twitter.com/r0BRHdL6Ew

— Lookonchain (@lookonchain) September 29, 2024

Others were not as fortunate, missing the chance to profit. Such is the nature of trading.

What an unfortunate situation!
The 21M $MOODENG he sold for $297 is now valued at $6.3M! #MOODENG
He discovered $MOODENG just one hour after it began trading and spent 26 $SOL ($3,537) to buy 21M $MOODENG, which had a market cap of $210K at that time.
However, when $MOODENG dropped, he panicked and… pic.twitter.com/XUt9lAk2yU

— Lookonchain (@lookonchain) September 28, 2024

Note: The market is volatile and prices can decline rapidly. Always conduct thorough research before investing and never invest more than you can afford to lose.

You might also like Crypto Investor Nets 2,554x Return on a $1,300 Hippo-Themed Meme Coin Bet in Just Two Weeks

Gotbit Hedge Fund and SunPump Collaborate to Enhance Meme Coin Sector

Performance-driven market maker Gotbit Hedge Fund and SunPump, a meme coin launchpad on the TRON blockchain, have announced a partnership aimed at strengthening the meme coin ecosystem.

As stated in the press release, the partners intend to foster growth and innovation for meme coin projects.

Gotbit Hedge Fund has expressed that it has been a “consistent supporter” of SunPump’s meme initiatives.

Thus, it aims to enhance market opportunities for these projects by merging its resources and market-making expertise with SunPump’s vision.

“This official partnership represents another step in their mutual commitment to expanding the meme coin space,” the two parties stated.

We’re thrilled to announce our strategic partnership with @SunPump!
This collaboration enhances our presence in the MEMEs projects on @Trondao, paving the way for accelerated growth and new opportunities
Flex your MEME narratives & guess the next 1B Memecoin on TRON… https://t.co/4ryercxSeT pic.twitter.com/Q5ej6j0IhR

— Gotbit Hedge Fund (@gotbit_io) September 27, 2024

Alex Andryunin, Founder and CEO of Gotbit Hedge Fund, remarked that a “fascinating” trend currently observed is the memecoin sector “gaining momentum independently.” It is evolving separately from the wider crypto market.

“Various chains are now positioning themselves for the next surge, attracting new waves of retail investors, becoming hubs of meme token activity, and indicating many exciting launches ahead,” the CEO stated.

Andryunin mentioned that this collaboration will aid in this transformation.

“By working together, we will contribute to building a sustainable meme coin environment that can thrive for the long term,” he added.

You might also like Tron’s SunPump Meme Coin Launchpad Outperforms Solana’s Pump.fun

Arthur Hayes Acquires PEPE, MOG, PONKE

Billionaire Arthur Hayes, the former CEO of BitMEX, recently revealed that he is expanding his meme coin portfolio, soliciting suggestions from subscribers on potential investments.

He mentioned that ‘UPtober’ is approaching – a month anticipated for a bullish crypto market.

Fam I need some help. It’s about to be UPtober and I need a PORTFOLIO of memecoins. I got $MOTHER, $MOG, $PEPE. Shill me your best memecoin.

— Arthur Hayes (@CryptoHayes) September 28, 2024

So far, the co-founder has invested in or expressed interest in MOTHER, MOG, and PEPE.

Shortly after that post, he announced that he had acquired some MOG.

According to Lookonchain, Hayes purchased 24.39 billion PEPE on the crypto exchange Binance, investing approximately $252,680 in the coin.

Arthur Hayes(@CryptoHayes) is calling for #MEMEcoins $MOTHER, $MOG and $PEPE!
On-chain data shows that he withdrew 24.39B $PEPE ($252.68K) from #Binance 20 minutes ago.
Address:
0x6cd66dbdfe289ab83d7311b668ada83a12447e21 pic.twitter.com/MC9ZPF2Eg4

— Lookonchain (@lookonchain) September 27, 2024

Following this, on September 28, he announced another acquisition, stating he added PONKE to his collection.

$PONKE the memes be dank.
Yachtzee

— Arthur Hayes (@CryptoHayes) September 28, 2024

Coins generally tend to rise following news of a prominent figure investing in the project – at least initially.

PEPE has declined approximately 1% over the past 24 hours, but it has increased by 36.5% over the week. Indeed, it saw gains on September 26 and 27.

MOG is also down nearly 1% in a day but has risen by 30% in a week, while PONKE increased by nearly 8% in 24 hours and 14% over seven days.

Celebrity Iggy Azalea’s MOTHER rose by 0.5% and 59% in the same timeframes, respectively.

This does not imply that the increases were solely due to Hayes’ investment. After all, numerous other meme coins have also recorded gains.

However, his involvement may have influenced the situation to some extent.

You might also like Arthur Hayes Says Its Time for Crypto Projects to Start Launching Their Tokens

The post Meme Coin News: Whales Boost MOODENG Price, Arthur Hayes Goes Meme appeared first on Cryptonews.