The Solana-based memecoin MOODENG has soared over 80% in the past 24 hours after Ethereum co-founder Vitalik Buterin donated $290,000 worth of the token to a wildlife zoo.
MOODENG is a meme coin based on Moo Deng, a pygmy hippopotamus living in Khao Kheow Open Zoo in Si Racha, Chonburi, Thailand. At two months old, she became a popular Internet meme in September 2024 after images and videos of her went viral.
Vitalik Supports the Khao Open Zoo
In a letter to the Director of Khao Open Zoo, Vitalik expressed his gratitude to the director.
“I was deeply impressed with your commitment to animal welfare, education, and outreach, as well as fostering a fun community spirit for visitors and staff. I was particularly excited to hear your plans for improvement to the zoo itself, especially the proposal for upgrades to the Pygmy Hippopotamus habitat,” Vitalik said.
The co-founder further noted that he would support her family and friends, Kha Moo and the Gang, including her human family and everyone at the Khao Open Zoo.
Following Vitalik’s donation, MOODENG’s trading volume skyrocketed, reaching a price of $0.000207, an 80% increase. Market analysts suggest that Buterin’s gesture gave the token newfound legitimacy, attracting retail and institutional interest.
X users also expressed gratitude and excitement about his donations, with one tagging him as “fantastic” and another thanking him for contributing to global communities.
A $1 Billion Donation
Buterin is no stranger to shaking up the memecoin market. In the past, he has made similar donations and token burns with assets like Shiba Inu (SHIB). In 2021, the executive received nearly $7 billion worth of SHIB, currently the second-largest memecoin by market cap, from its developers. Of this, the co-founder donated $1 billion to aid COVID relief in India and burned the rest.
While the recent surge is promising, experts have always cautioned investors to tread carefully. Memecoins are notoriously volatile, and sudden price movements can be unpredictable.
