Release: 2024/11/15 01:44 Reading: 515
Moodeng (MOODENG) Soars to New Heights
Moodeng (MOODENG) has reached a record-breaking price, propelled by the recent surge in meme token popularity. Binance's support for new meme listings has further boosted the token's value.
Price Discovery and Trading Activity
MOODENG has surged to a new high of $0.50, accompanied by its highest trading volumes since October. Open interest remains strong, with positions valued at $189M. Leveraged positions are skewed towards longs, indicating potential selling pressure.
Meme Token Landscape
MOODENG has temporarily eclipsed hotter memes like GOAT, PEPE, and PNUT. Despite rumors, there are no clear indications of upcoming listings. However, Kraken Pro's meme token collage has boosted Moodeng's visibility.
Anticipation for Binance Spot Listing
MOODENG has consistently anticipated a Binance spot listing since October 25th. The token's perpetual futures market on Binance remains one of the most active. MOODENG's $500M valuation ranks it among the top second-tier meme tokens. A Binance listing could accelerate its growth, as seen with PNUT and ACT.
Binance Connection and Rumors
Rumors of a MOODENG spot market on Binance have circulated for weeks. However, there are no confirmed transactions to known Binance wallets. These rumors have fueled the recent rally, but the absence of an actual listing could depress the token's price. Binance has not announced any official deposit addresses, and its known Solana wallets do not currently hold MOODENG.
Wintermute's Involvement
Wintermute still holds over 6% of MOODENG's supply, but its wallets show no connection to Binance. Instead, Wintermute is part of a cluster that holds over 9% of MOODENG tokens. While this does not guarantee a listing, it may indicate Binance's testing or interest in the token.
Market Position and Competition
MOODENG remains popular among influencers and has attracted significant attention. However, its low decentralization may face scrutiny from Binance, which is cautious about listing tokens with potential cabal concerns.
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