On September 10, an anonymous trader whose Solana wallet address starts with “Db3P” bought 6 SOL worth of a new meme coin called Moo Deng. That $800 investment, which the trader made four hours after the token was launched, was worth around $7.5 million worth of the pygmy hippo tokens on Friday, according to blockchain data.
That’s up from $3.5 million early Thursday, when Arkham Intelligence last rang the bell about this trader’s incredible gains. Decrypt examined blockchain data on Friday, following further price gains, and found that approximately 30.2 million MOODENG tokens are still being held between the main wallet and three others, following transfers to those wallets last week. No tokens have been sold yet.
Alt season is back and in full bloom, though the as-yet-unidentified trader has faced accusations across Twitter of being an “insider” who got an early jump on the coin, or an undisclosed team member who is now reaping the rewards.
Of course, it ain’t over until it’s over—and it’ll likely be over when Db3P actually cashes out, which could signal that the whole thing will collapse since the coin isn’t based on anything and has no utility.
And so we wait. Meanwhile, Moo Deng is trading above $0.25 per token as of this writing, up 83% in just the past 24 hours, per CoinGecko. Moo Deng hit a new all-time high price just 2 hours ago, and now sits at a market cap of $243 million.
Inspired by the Thai pygmy hippopotamus of the same name that has gone viral in recent weeks, Moo Deng has nearly doubled in value over the past day and skyrocketed by 1,300% in a week, surging to become the hot meme coin of the moment.
How long will the rocket ship ride last—and will Db3P get off in time? Stay tuned.
Edited by Andrew Hayward
Editor’s note: This story was originally posted on September 26, 2024. It was last updated on September 27 with updated price information and additional blockchain data analysis.
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**Conclusion:**
And there you have it! The wild ride of Moo Deng and the mysterious trader “Db3P” continues to captivate the crypto world. With astronomical gains, accusations of insider trading, and a surge in popularity inspired by a viral pygmy hippopotamus, this meme coin has certainly made a splash.
As the value skyrockets and the market cap climbs, all eyes are on the enigmatic trader and the future of Moo Deng. Will Db3P cash out in time, or will this exhilarating journey come to an abrupt end? Only time will tell.
In the fast-paced world of crypto, anything can happen. So stay tuned, buckle up, and enjoy the rollercoaster ride that is Moo Deng and its meteoric rise to fame. The drama, the suspense, and the thrill of the unknown await as we eagerly watch the next chapter unfold.
