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In an amazing twist of events in the cryptocurrency market, an enthusiast turned a stake of approximately ₹1 lakh ($1,300) to ₹100 crore (over $12 million) within three weeks.
The investor managed to earn an impressive profit from the surge of Moo Deng memecoin. It’s a brand new altcoin that emerged in reference to a famous pygmy hippopotamus called Moo Deng.
This notable amount of money was made between September 10th and September 28th, according to Lookonchain, which is a well-known blockchain analytics platform.
Moo Deng memecoin gained popularity quickly amidst other memecoins like Dogecoin and Shiba Inu. These digital currencies tend to soar in popularity with the support of social media trends and influential memes that circulate centered around animals.
Pygmy hippopotamus named Moo Deng who is two-months-old from Thailand recently went viral after several videos featuring her entertaining moments on video sharing platforms including TikTok and Instagram were shared online.
Her name, which translates to ‘bouncy pork, ' was chosen through an online poll in August. The cute hippo won the hearts of people worldwide and contributed to a record-breaking pump in memecoin with her name.
The Moo Deng coin rose by 90% in its value within the first 24 hours after its launch. This increase was mainly because of her popularity on many social media platforms; her videos got millions of views, thus establishing a solid fan base. This fan-driven market spike highlights how viral internet content can affect memecoins’ financial outcomes.
The quick rise of Moo Deng memecoin can be seen as a very unstable but, at the same time, very profitable aspect of the cryptocurrency market. Although there is significant potential for returns in digital assets like Moo Deng, these are also considered memecoins that can exhibit significant volatility based on internet trends.
These actions have gone beyond just financial speculation and expanded into other areas such as beauty trends. Many makeup influencers have already copied Moo Deng’s unique pink cheeks and complexion; the evidence is undeniable that she has emerged as a pop icon.
However, similar to the majority of memecoins, the project’s longevity rarely lasts long, but Moo Deng’s narrative could inspire both young and old investors to explore the potential within this specific sector of cryptocurrency.
