A cryptocurrency investor recently turned a modest investment into a massive fortune with a meme coin tied to a viral internet phenomenon. On September 10, the investor, known online as Lockonchain, put $1,300 (about Rs. 1 lakh) into Moo Deng, a cryptocurrency inspired by a young pygmy hippo from Thailand. In just 17 days, that investment grew to over Rs. 100 crore, thanks to the growing popularity of the coin.
What is Moo Deng?
Moo Deng, the coin’s namesake, became an internet sensation after videos of the two-month-old hippo, known for her unique appearance, went viral. These videos, widely shared on social media platforms like Instagram and TikTok, sparked global interest. As a result, Moo Deng’s image and appeal quickly transcended her local fame, fueling interest in the cryptocurrency that bears her name.
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How Do Meme Coins Work?
Meme coins, a trend in the digital currency space, are typically based on viral internet moments, animals, or memes. Unlike traditional cryptocurrencies like Bitcoin or Ethereum, these coins grow in value primarily through social media buzz and online trends. The success of Moo Deng joins the ranks of other meme coins, such as Dogecoin and Shiba Inu, which also emerged from internet culture and gained traction through their viral appeal.
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The user’s story unfolded online, where they shared their journey from a small investment in Moo Deng to a life-changing gain. Within just two weeks, the value of the cryptocurrency surged, propelled by the increasing attention on the pygmy hippo and the growing trend around meme-based digital currencies.
What other Trends has Moo Deng Inspired?
Moo Deng’s influence has not been limited to the cryptocurrency world. Her viral videos have inspired a beauty trend that is spreading worldwide. Beauty influencers have taken cues from the hippo’s look, creating makeup styles that mimic her features. Social media platforms continue to see this trend gain traction as influencers from various regions pay homage to the internet’s beloved hippo.
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Moo Deng’s rise to fame has taken even her zookeeper by surprise. In an interview with The Guardian, she expressed astonishment at the international attention the hippo received, noting that she had expected Moo Deng to gain some recognition in Thailand but not worldwide.
Disclaimer: Cryptocurrency investments carry significant risks and can lead to substantial losses. Always conduct thorough research and consider your financial situation or seek financial advice before investing.