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Memecoin Moo Deng, MEW Surges After Robinhood Listing
Both tokens jumped on the news, adding to their already large gains this month.
Updated May 23, 2025, 3:30 p.m. Published May 22, 2025, 9:27 p.m.
What to know:
- Robinhood has added two Solana-based memecoins, MOODENG and MEW, to its cryptocurrency offerings for U.S. customers.
- MOODENG, inspired by a baby pygmy hippo meme, has reached a $230 million market cap, surging over 836% in May.
- MEW, launched during a Solana meme coin frenzy, now holds a $368 million market cap after a 52% price increase in May.
Robinhood has added two Solana-based memecoins, Moo Deng and cat in a dog’s world , to its suite of cryptocurrencies available to trade for U.S. customers.
Moo Deng, which is based on a baby pygmy hippo, has risen to a $230 million market cap this month after the meme went viral online in 2024. The token skyrocketed over 836% in May and jumped another 21% over the past 24 hours.
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Cat in a dog’s world, on the other hand, is a token based on cats, which launched in March 2024 as part of a Solana meme coin frenzy. The token stands at a $368 million market cap after its price rose 52% in May. It is up nearly 20% over the past 24 hours.
The latest inclusions add to Robinhood’s list of meme coins, and the regulatory landscape is becoming much more flexible after the nomination of several pro-crypto government leaders and President Donald Trump's U.S. election win last year.
In November, Robinhood added the trading of Pepe coin , another popular meme coin. The trading app currently offers over 20 cryptocurrencies after previously ending support for several tokens in 2023 amid a crackdown on crypto by the former Securities and Exchange Commission Chair, Gary Gensler.
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Bank of Japan Set to Hike Rates to 30-Year High, Posing Another Threat to Bitcoin
Rising Japanese rates and a stronger yen threaten carry trades and could pressure crypto markets despite easing U.S. policy.
What to know:
- According to the Nikkei, the Bank of Japan (BoJ) is set to increase interest rates to 75bps, the highest level in 30 years.
- Rising Japanese funding costs, alongside falling U.S rates, could force leveraged funds to reduce carry trade exposure, increasing downside risk for bitcoin.
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