Moo Deng, a meme coin on the Solana blockchain, soared 100% within a day, propelled by a viral pygmy hippo's fame. Experts are cautious, suggesting this explosive growth could be a precursor to a market downturn.

The value of the Solana-based meme coin Moo Deng (MOODENG) has increased by approximately 100% in the last day.

MOODENG's Meteoric Rise: Driven by Viral Fame

The female pygmy hippo Moo Deng, who shot to fame online not long ago, is the obvious source of inspiration for the token.

Atthapon Nundee, a 31-year-old zookeeper from Si Racha, Thailand, brought fame to the pygmy hippos at the enormous Khao Kheow Open Zoo.

How a Viral Pygmy Hippo Inspired a Meme Coin

He used to share cute zoo animals on social media for a long time. According to U.Today, Moo Deng was instrumental in bringing his big break earlier this year.

There is now a line of cars outside the zoo to see the adorable two-month-old chubby hippo.

Insider Claims and a Quick Rise to Millions

The token's fans have decided to cash in on the latest meme craze, as one would expect. Some think the trader is an insider, but he or she made millions off of the meme coin with only $800.

How well the baby hippo's meme coin, which was inspired by a new venture, does against established competitors is an open question. Because of the recent price increase, its market capitalization is now close to $250 million.

Can MOODENG Sustain Its Growth Amid Market Doubts?

The meme coin, according to some analysts, will be nothing more than a passing fad, similar to competing celebrity meme coins that saw meteoric rises in value in early summer before collapsing.

Naturally, Moo Deng's ability to maintain its popularity after recently topping Ethereum on Google Trends will determine the meme coin's destiny.

Moo Deng's Fate: Echoes of Fiona the Hippo’s Viral Success

By contrast, the Cincinnati Zoo's common river hippopotamus Fiona went viral in 2017. The New York Times reports that it is still popular with tourists.