The post Moodeng (MOODENG) jumps by 95% after fast Coinbase listing appeared on BitcoinEthereumNews.com.

Solana meme token Moodeng (MOODENG) nearly doubled its price, rallying close to $0.60. MOODENG expanded following a faster-than-expected listing on Coinbase.  Moodeng turned into the new rollover token for the meme space, after going through a vertical rally. The chief reason was the quick listing from Coinbase, soon after adding the token to their roadmap. The listing suggests the meme super cycle is far from over, and the exchange has deemed this token promising enough. Coinbase has bypassed other cult assets like DogWifHat (WIF) and Popcat (POPCAT) in favor of a mass-appeal meme. Assets added to the roadmap today: Moo Deng (MOODENG)https://t.co/rRB9d3hSr2 — Coinbase Assets 🛡️ (@CoinbaseAssets) December 2, 2024 As an immediate effect, MOODENG daily volumes reached an all-time high above $890M. The token was on track to repeat its previous price record above $0.64, with sustainably high activity. Open interest for MOODENG increased above $232M but with a shift toward short positions. In the past day, short positions expanded from 29% to 49%, as the rally is expected to stall after the initial enthusiasm. The Coinbase listing highlights the lack of a Binance spot pair. MOODENG is only listed on the futures market. Spot pairs also mean parts of the MOODENG supply shift to exchanges, with fewer decentralized whale wallets.  While previous tokens took a while to be listed, MOODENG went on the fast track. As a result, the token broke out of its stagnation around $0.30, returning to the $0.60 range in a near-vertical rally. MOODENG was one of the few meme tokens in the green in the past 24 hours, as attention shifted to XRP and altcoins.  MOODENG rallied from its recent lows up to $0.60. | Source: Coinmarketcap The Coinbase listing of Pepe (PEPE) had a similar effect, granting additional legitimacy to the token. Coinbase has…

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Filed under: News - @ December 2, 2024 10:20 pm