Moo Deng Meme Coin Rises After Man Fined for Entering Viral Pygmy Hippo's Den

In brief

• Moo Deng (MOODENG) is up more than 6% in the last 24 hours amid news a man was fined for entering the hippo's quarters.
• The token's jump is outpacing other meme coins as the broader crypto market moves higher.
• Nevertheless, the Solana-based MOODENG remains nearly 93% off its all-time high.

The Solana meme coin inspired by viral pygmy hippo Moo Deng (MOODENG) is up 6.5% in the last 24 hours amid news that a man that intruded on the animal’s enclosure has been fined for the act. 

The man, who was reportedly fined $300 for unlawfully entering the area, was found guilty by a local Thai court after being arrested in March. 

In a video shared following the arrest, a male can be seen hopping a fence at the Khao Kheow Open Zoo when no staff were around Moo Deng’s quarters. He holds what appears to be an iPad or a similar tablet in hand, before approaching Moo Deng while recording a video.

The stunt has led to increased security measures at the zoo according to its director Narongwit Chodchoy, who told AFP that it will “have to train [staff] on what to do if there are any intruders.”

"We learned from this lesson and will not allow it to happen again—not to Moo Deng and not to other animals in the zoo," he said. The viral pygmy hippo was not harmed during the stunt, but was “slightly startled” according to the report. 

Moo Deng rose to popularity in early 2024, quickly becoming a viral sensation on social media for its playful antics. Around that time, a meme coin celebrating the hippo was launched via popular token launchpad Pump.fun, and shortly thereafter gained traction. 

In November of that year, the token surged to an all-time high around $0.68, or about a $680 million market cap. While the high was short-lived, the token maintained relevancy for a while longer, ultimately earning listings from all the major centralized exchanges, including Coinbase, which spiked the token price by 80% in December of that year.

Since that time, though, it’s largely been stuck in a downward spiral, recently changing hands around $0.048, or about a $48 million market cap—nearly 93% off its all-time high. Mainstream media attention, like the recent report from the AFP, typically provide a burst of life to meme coins, which are tokens that are often based on popular culture and events and have no real utility.

For example, the price of MOODENG surged around 33% when the zoo announced plans for a first birthday party last July. 

However, the token’s latest surge also comes amid improving macroeconomic conditions, highlighted by the late Tuesday conditional ceasefire in Iran, avoiding a potentially massive attack teased by U.S. President Donald Trump. Since that time, all crypto assets have surged, led by Bitcoin and Ethereum jumping 4.2% and 6.3% respectively in the last day.

Meme coins as a whole have underperformed the majors, though, jumping just 3.6% in the last 24 hours according to CoinGecko.