Moodeng, the new viral internet meme animal recently found its home on the Solana blockchain in the form of the $MOODENG/SOL memecoin. It’s already testing a market cap of $40M only 11 days after the coin’s creation.
Solana memecoin traders were already used to seeing cat and dog coins. However, after Moodeng became a viral internet sensation overnight, degens were quick to launch the baby hippo on Solana.
At the time of this writing, Moodeng is trying to break above the resistance at $40M, with a total of 24000+ holders according to data by DexScreener.
$Billy gains 252% in September
Since the market took a more bullish turn recently, and Solana also pumped from $128 to $152 over the course of a week, several memecoins have also started recovering.
Billy/Sol, for instance, went from a market cap of $15M (the local bottom) to $55.38 recently, marking a 252% increase. However, it looks like traders on Solana might be becoming tired of meme coins revolving around cats and dogs.
Traders are growing tired of cat and dog coins
This sentiment has been developing among the traders for a while now. We’ve already seen cat-based meme coins like Michi, Popcat, Mew, and Ginnan ruling the stage.
On the other hand, there seem to be an endless list of dog meme coins besides Billy, such as Selfie, Dogwifhat, Bonk, and more.
Solana traders have been desperately waiting for something new. As such, one user on Twitter pointed out that everyone is tired of the current meta.
https://t.co/nICEZryehG fucked up memecoins just like how Blur fucked up NFTs. Memecoins are supposed to be funny im not here to see 300 cat and dog shits everyday and try to find gold from a dumpster. Everyone is tired of this, bring back hamster racing.
— Lil Kai (@Cath_Lil_Kai) August 10, 2024
Similarly, another user mentioned that he’s tired of all these cat and dog memecoins manufacturing every second.
Tired of seeing all these cat and dog memecoins that are getting manufactured by the second.
— Winner (@Winner0fCrypto) July 13, 2024
The main reason why Billy pumped above a market cap of $220 million in July 2024 was that it offered a fresh narrative at that time, as the traders were growing tired of endless celebrity tokens and scams. At that time, Billy/Sol was more like a movement that defied the meta and rebalanced the market.
Now that we’re seeing similar sentiments about Cat and Dog coins, Moodeng has come in and taken everyone’s attention. It’s fresh, unique, and it’s neither a cat, nor a dog. Rather, it’s a baby hippo that’s also going incredibly viral outside of the crypto world.
That alone might be the only bullish factor that can allow Moodeng to join the likes of Billy and Michi on Solana.
