On the earth of meme cash, three distinct variations of the Moo Deng token, launched throughout the Solana, Sui, and Ethereum blockchains, are competing for dominance. Every goals to carve out a spot not solely within the meme coin neighborhood but in addition within the broader blockchain panorama, with various levels of success and challenges.
The contenders
The primary Moo Deng coin launched on Solana, it rapidly reached a market cap of $336 million.
Backed by main exchanges and market makers like Wintermute, it has maintained the best buying and selling quantity, with over $100 million in 24-hour trades—roughly 75% of its market cap. Nevertheless, latest worth volatility, together with a 50% drop, suggests the preliminary fervor could also be cooling.
Sui’s model, generally known as “Sudeng,” gained consideration after a $150,000 donation was made on its behalf to a zoo housing the newborn hippo. This boosted the coin’s visibility, and Sudeng now has the best market cap among the many three at $160 million.
Nevertheless, its day by day buying and selling quantity is comparatively low, with solely $30 million in trades—about 20% of its market cap. Issues about centralized provide have emerged, as practically 60% of Sudeng tokens are held by simply two exchanges, and the highest 300 pockets addresses seem like linked to a single entity.
$HIPPO IS A HONEYPOT.
– The primary 300 holders/addresses have a mean lifespan of 12 days, and 71 of those 300 addresses have by no means made a single transaction—solely acquired tokens.
– None of those 300 addresses have a Sui identify service.
– The usual deviation is simply 4 days,… pic.twitter.com/Bzs8ZfpjQS
— xsui (@0xxsui) October 9, 2024
On Ethereum, the Moo Deng token gained traction when Vitalik Buterin bought practically 5% of the token provide and donated $760,000 to charity, inflicting the worth to extend by 500%.
I respect all of the memecoins that donate parts of their provide on to charity.
(eg. I noticed ebull despatched a bunch to numerous teams final month)
Something that will get despatched to me will get donated to charity too (thanks moodeng! The 10B from right now goes to anti-airborne-disease…
— vitalik.eth (@VitalikButerin) October 7, 2024
Nevertheless, this transfer additionally raised considerations over centralization, because it was attainable to ship Buterin 15% of the whole token provide. Presently, Ethereum’s Moo Deng has the smallest market cap, at $60 million, and its buying and selling quantity stays low at $10 million day by day. It has additionally not but been listed on any main centralized trade, limiting its development potential.
The highway forward
Business specialists level to a number of components that sometimes outline a profitable meme coin: distribution, neighborhood engagement, market worth, buying and selling exercise, and the Lindy impact—the concept the longer one thing survives, the longer it’s prone to proceed surviving.
By these metrics, the Solana model presently holds the lead. Nevertheless, the crypto market is notoriously risky, and the last word victor could be decided by which token secures coveted listings on top-tier exchanges like Binance or Coinbase.
