Coinbase Reveals Plan To List Solana’s Moo Deng, Price Surges 70%
Summary
- Moo Deng (MOODENG) surged 70.31% to $0.6123 within 24 hours following Coinbase’s listing announcement.
- MOODENG’s trading volume soared 400%, reaching $751M, reflecting a rise in investor interest after Coinbase included it in their roadmap.
- Coinbase may apply an Experimental label to MOODENG, ensuring transparency and alignment with Asset Hub’s compliance and security standards.
Coinbase, a leading crypto exchange, has revealed its plan to list Moo Deng (MOODENG), a meme coin on the Solana network, as part of its asset expansion strategy. This move highlights Coinbase’s ongoing efforts to diversify its asset offerings and cater to the evolving needs of the cryptocurrency market. By listing MOODENG, Coinbase aims to attract more traders and provide them with additional opportunities to engage with emerging digital assets.
The decision to include MOODENG also reflects Coinbase’s commitment to supporting a wide variety of digital assets, ensuring that users have access to both established cryptocurrencies and newer, high-potential tokens. By adding meme coins like MOODENG, Coinbase taps into the growing interest in niche, community-driven projects that have become increasingly popular within the crypto space.
With this listing, Coinbase strengthens its position as a prominent player in the cryptocurrency ecosystem. The addition of MOODENG provides traders with new investment options, fueling further engagement and innovation in the rapidly expanding world of digital assets. This move marks an important step in Coinbase’s strategy to lead the market by offering a comprehensive selection of cryptocurrencies for its users.
Moo Deng Price Jumps 70% After Coinbase Listing Announcement
Following Coinbase’s announcement, Moo Deng (MOODENG) saw an impressive 70.31% price surge within 24 hours, climbing to $0.6123. This sharp increase highlights a surge in market enthusiasm, likely driven by Coinbase’s influence as a major trading platform.
The trading activity surrounding Moo Deng also spiked significantly. In the same 24-hour period, the token’s trading volume soared by 400%, reaching $751 million. This surge indicates a significant rise in investor interest and increased activity among traders.
It is important to note that although Coinbase has included Moo Deng in its roadmap, trading and transfers for the token will not be supported until the official listing is announced. This approach ensures that the necessary regulatory and technical preparations for asset integration are met.
Moo Deng, a meme coin, operates on the Solana blockchain, which is renowned for its efficiency and scalability. At the same time, Coinbase has also added QCAD, an ERC-20 token from the Ethereum blockchain, to its roadmap.
Experimental Label and Asset Hub Compliance Standards
Additionally, Coinbase recently introduced an Experimental label, which may apply to newly listed assets like Moo Deng. This label signals that the assets are in the early stages of adoption or testing, offering users greater transparency about their nature.
As part of its Asset Hub initiative, Coinbase aims to list any asset that meets its legal, compliance, and technical security standards. These criteria prioritize the platform’s integrity over factors like market capitalization or token popularity.
Last month, FLOKI’s price surged after being added to the exchange’s listing roadmap, reaching a five-month high. This inclusion sparked a wave of interest among traders, with the token gaining 12% in 24 hours and nearly doubling over the course of the week.
More recently, the price of the Solana-based meme coin soared 26% following its listing on the Asian crypto exchange OKX.
At press time, Moo Deng (MOODENG) experienced a slight decline but remained strong, trading at $0.5402. Despite this dip, the token has sustained substantial gains, with a 50% price increase over the past 24 hours.
