South Korean cryptocurrency exchange Upbit has listed MOODENG, a Solana-based meme coin, with new trading pairs against the Korean Won, Bitcoin, and Tether. This integration propelled the entire meme coin market capitalization upward by 9.3% to $14.90 billion.
MOODENG recorded dramatic price appreciation immediately following the listing, surging 53.51% within 24 hours and accumulating extraordinary gains of 699.10% over the preceding 90 days. Trading volume exploded by 282.64% to $194.01 million, signaling intense investor interest.
The listing has significantly elevated investor confidence in Solana-based digital assets while lending increased credibility to the meme coin sector. This shift in perception has been partly influenced by endorsements from prominent industry figures like Ethereum co-founder Vitalik Buterin.
Market analysts suggest this event may indicate stabilizing conditions and renewed growth potential within Solana’s burgeoning meme coin ecosystem. However, investors are advised to maintain caution regarding long-term sustainability despite current positive momentum.