Moo Deng, a Solana-based meme coin, is witnessing a remarkable resurgence after a recent listing on Binance that led to a 200% price surge. After dropping 78% in value recently, the token's price jumped to about $0.23 from below $0.08. This spike followed Binance's announcement to launch futures trading for Moo Deng, which is based on an endearing baby pygmy hippopotamus character. The trading announcement sparked renewed interest, with Moo Deng’s price climbing significantly despite prior declines. The coin had previously peaked at over $0.33 on September 28 before entering a slump. Meme coins like Moo Deng are known for their volatility, rising rapidly based on trends and social media momentum, but can also face steep declines as traders move towards newer coins. The market's reaction underscores the cyclical nature of meme coin popularity, where investor sentiment can shift quickly based on news and trends.

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