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.

More companies are announcing plans to buy cryptocurrencies to help lift their share prices.

Memecoins have been a part of the cryptoasset ecosystem virtually ever since the asset class achieved mass market awareness and appeal during 2017-2018. While most memecoin projects have been revealed,

Justin Sun, the China-born founder of the Tron blockchain, participated in the dinner while he is fighting a market manipulation case in the US

These were once the dominant players in the penny stock-like corner of the cryptocurrency markets that plays home to memecoins — a risky type of digital asset that, unlike its big brother counterparts bitcoin and ether, has no inherent value. And then came President Donald Trump ’s $TRUMP.