Reported 10 days ago
Moo Deng, a beloved Thai pygmy hippo, has been transformed into a cryptocurrency named Moo Deng Coin, skyrocketing 1,400% since its launch just weeks ago. This memecoin reflects a trend in digital assets that often have no intrinsic value, comparable to collectibles like Beanie Babies. While some traders have seen drastic gains, the nature of memecoins means they can quickly lose value as investor interest wanes, especially amidst broader surges in cryptocurrencies influenced by recent Federal Reserve interest rate cuts.
Source: YAHOO