Moodeng, a meme coin inspired by a viral baby hippo, just nosedived. The coin, built on pure internet hype, hit its peak market cap at $322.7 million on Sept. 28. But within three days, it crashed 50%, sinking to $0.18. In the last 24 hours alone, it took a 26% hit. Yet, big whales are still sitting tight, not ready to jump ship just yet.
Take the trader known as “Db3P,” for example. He bought $800 worth of Moodeng on its launch day, Sept. 10. And two weeks later? Boom. That bag exploded to $10 million. But the recent plummet slashed that to $5 million. So why hasn’t Db3P cashed out?
Meme Coins and Their Eternal Liquidity Puzzle
Moodeng’s crash isn’t just random chaos—liquidity, or lack of it, plays a huge role. The token’s market cap stands at $176.1 million, which means big fish like Db3P can’t easily offload their massive holdings. If he tried to dump all his tokens, it would trigger an even deeper price collapse. And that’s the dilemma. The whales need to sell in small chunks, carefully. Otherwise, the whole token market gets wiped out faster than a cheap airdrop.
Liquidity is always an issue with meme coins. These tokens get crazy volatile because their market caps are often tiny, and when a few whales hold huge stakes, it makes everything unstable. One big sell-off can tank the whole thing. Meme coins like Moodeng thrive on speculation and hype, but they crash hard when liquidity runs thin.
Hippo Frenzy Turned Crypto Wildfire
Moodeng started blowing up after a baby hippo in Thailand’s Khao Kheow Zoo became an internet sensation. Launched on Solana’s Pump.fun platform, it rode the wave of that viral fame. By Sept. 24, the coin’s market cap had hit $70 million, thanks to non-stop hype and growing interest from retail investors. On Sept. 26, the token surged by 34%, climbing the meme coin leaderboard and leaving the pack behind. But as we know, that climb was short-lived.
This isn’t a new story. Moodeng follows in the footsteps of tokens like Dogecoin, Pepe, and Shiba Inu, proving once again that even meme coins with zero utility can catch fire, but burn out just as fast.
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