Moo Deng, a Solana-based memecoin inspired by a Thai pygmy hippopotamus, surged 45.40% in value in just one hour, followed by an 11.36% increase on June 3rd with a market capitalization spike of $57 billion.
The surge was triggered by Moo Deng's listing on South Korea’s Upbit exchange, introducing the token to one of Asia’s most active crypto markets and increasing liquidity with KRW, BTC, and USDT trading pairs.
The cryptocurrency community anticipates a price increase until July 10, to coincide with Moodeng, the hippo's, first birthday, despite the coin's high volatility and speculative nature.
Technical analysis suggests a moderately bullish sentiment with indicators like RSI leaning bullish and MACD reinforcing cautious optimism, while volatility remains a factor in Moo Deng's price trajectory.