Meme coin news: MOODENG and BONK lead market comeback; SHIB burn rate jumps 1,200%
- Moo Deng gained over 30% after Upbit listing, with its market cap surpassing $200M.
- BONK displayed bullish momentum as key signals signal renewed demand.
- Shiba Inu’s burn rate sees a dramatic jump after dipping.
Cryptocurrencies witnessed quite a volatility today as US labor stats propelled Bitcoin above $110K before retracing to $109K.
While altcoins signaled potential recoveries, meme coins remained in the spotlight, possibly as they set the market tone during every cycle.
In that context, MOODENG, BONK, and Shiba Inu dominate meme crypto trends due to different reasons. Let us find out more.
MOODENG soars on Upbit listing
Moo Deng led today’s gainers as it rallied 35% from $0.1691 to $0.2282.
The robust move followed South Korea’s exchange Upbit confirming it has listed MOODENG against USDT, BTC, and KRW.
The announcement ignited optimism among traders.
Moo Deng’s price gained around 35%, while its market cap surged beyond $200 million from $165 million.
While the market cap has dipped slightly to $188 at press time, Upbit’s listing positions the altcoin for greater liquidity and wider visibility.
MOODENG trades at $0.1901, with its 24-hour trading volume up 428%.
Moreover, the listing’s timing has added to MOODENG’s momentum.
Binance Alpha added the meme crypto in May, whereas the community wait Moo Deng’s upcoming birthday party between July 10 and July 13.
MOODENG is a Solana meme token based on the popular pygmy hippo at Khao Kheow Open Zoo in Thailand.
BONK rebounds on revived demand
BONK has jumped from the opening price of $0.00001464 to $0.00001738 – an 18.72% jump.
Besides the price action, the Solana-based meme grabbed attention as organic demand drove its surge.
Coinalyze data shows BONK recorded a substantial $1.61 trillion buy volume on 3 July, eclipsing the $1.44 trillion sell volume.
That confirms buyer resurgence and renewed demand for the altcoin.
Notably, the positive buy volume came after selling pressure dominated four successive days, suggesting a potential momentum shift to bullish.
The derivatives market data adds to the optimism.
According to Coinglass, BONK’s OI (Open Interest) jumped by 46% to $17.38 million, whereas futures volume crossed $97 million after a 270% increase.
It trades at $0.00001681 after retracing from intraday peaks.
Continued broad-based recoveries could trigger more uptrends for BONK in the upcoming sessions.
Shiba Inu’s burn rate skyrockets
While MOODENG and BONK stole the show through exchange listings and new capital, dog-themed Shiba Inu made headlines for different reasons.
SHIB has seen a massive 1,200% surge in burn activity, with over 13 million tokens destroyed in the past day.
Notably, SHIB saw sluggish token incineration in the previous five transactions .
The latest burn, which happened ah hour ago, wiped out around 13,152,197 SHIB coins.
That has renewed optimism in the meme coin’s deflationary journey.
The meme token trades at $0.00001192, having gained more than 5% the previous week. Also, fundamental data shows a healthy SHIB ecosystem.
IntoTheBlock data shows investors have staked over 4.69 trillion coins, indicating conviction in Shiba Inu’s long-term performance.
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