The cryptocurrency market saw a downturn despite positive US-China trade talks. Bitcoin fell to $103,888, and Ethereum dropped 2% to $2,508. Other altcoins like Dogecoin, Solana, and XRP also experienced declines.
On the other hand, **Moo Deng**, a meme coin on the Solana blockchain, surged 125% in the last 24 hours. This rally is driven by various factors. In 2024, Solana memecoins gained popularity with significant price increases. However, by 2025, many of them crashed, losing more than 90% of their value. Surprisingly, this week, some of these “dead” coins are making a comeback with impressive gains.
Binance recently added **MOODENG** and **GOAT** to its Alpha Projects batch, giving them a boost in attention. This move came after a period of reduced interest due to controversies like the LIBRA token incident. Following the announcement, the token surged over 60% to $0.20, with its market cap increasing from under $140 million to over $180 million in a few hours. Over the past week, **Moo Deng** has soared by over 600%, reaching its highest price since January.
The coin’s popularity is also rising due to its association with the viral Thai hippo mascot, creating a buzz on social media and driving prices higher. Currently, **Moo Deng** is up 97%, trading at $0.2447.
**Moo Deng** experienced a surge last week due to increasing institutional demand for SOL and rising retail interest after Bitcoin surpassed $103,000. This led to a rally among the top 10 Solana memecoins, pushing the overall market cap up by 33.7% to $12.6 billion.
Additionally, **Moo Deng** saw a rise in its futures open interest, which now stands at $274 million, up from $13.4 million a month ago. This increase indicates growing trader interest and more speculative activity in the market.
Analysts project that the price of **Moo Deng** could soon reach between $0.24 and $0.34. Despite a previous downward trend, the recent surge suggests that the token may continue its upward trajectory with targets set at these levels.
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