Coinbase, a leading crypto exchange, has announced its plan to list Moo Deng (MOODENG), a meme coin on the Solana network, as part of its asset expansion strategy. This decision underscores Coinbase’s commitment to offering a diverse range of digital assets, providing traders with broader opportunities for engagement in the cryptocurrency ecosystem.
Moo Deng Price Surges 70% Following Coinbase Listing Plan
Following Coinbase announcement, Moo Deng (MOODENG) experienced a remarkable 70.31% surge in price within 24 hours, reaching $0.6123. The sharp increase reflects a boost in market enthusiasm, likely spurred by Coinbase’s influence as a major trading platform.
The trading activity surrounding Moo Deng also experienced a notable uptick. Within the same 24-hour period, the token’s trading volume rose by 400%, reaching $751 million. This rise indicates heightened investor interest and a wave of activity among traders.
However, it is essential to note that while the exchange has included Moo Deng in its roadmap, trading and transfers for the token are not supported until the official listing is announced. This practice ensures compliance with regulatory and technical preparations required for asset integration.
The Moo Deng meme coin operates on the Solana blockchain, a network known for its efficiency and scalability. Simultaneously, the top exchange also included QCAD, an ERC-20 token from the Ethereum blockchain, in its roadmap.
Experimental Label and Asset Hub Standards
More so, Coinbase recently introduced an Experimental label, which may apply to newly listed assets, including Moo Deng. This label indicates assets that are in the early stages of adoption or testing, providing transparency to users about the nature of the assets.
In line with its Asset Hub initiative, Coinbase aims to list every asset that meets its legal, compliance, and technical security standards. These criteria are focused on the integrity of the platform rather than the market capitalization or popularity of the tokens.
Last month, FLOKI price rallied after being added to the top exchange listing roadmap, reaching a five-month high. The inclusion sparked increased interest among traders, with the token gaining 12% in 24 hours and nearly doubling over the week.
Most recently, the Solana meme coin price soared 26% following its listing on the Asian crypto exchange OKX.
At press time, Moo Deng (MOODENG) price experienced a slight decline but remained strong, trading at $0.5402. The token has maintained significant gains following the announcement, with a 50% increase in price over the last 24 hours.
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