An Ethereum (ETH)-based meme coin is skyrocketing after being launched on the top US crypto exchange by trading volume platform Coinbase.
In a new thread on the social media platform X, Coinbase Assets say it adds support for the meme item Mog Coin (MOG), a cat-themed token that launched in July 2023.
“MOG Coin is now live at http://coinbase.com and on the Coinbase iOS and Android apps. Coinbase customers can log in to buy, sell, convert, send, receive or store these assets.”
News of the listing sent MOG soaring as the meme asset went from a low of $0.000002375 on December 5 to a high of $0.000003418 the next day. It has since stabilized and at the time of writing is trading at $0.000003335, up 36% over the last 24 hours.
Earlier this week, another animal-themed meme coin received support from Coinbase, but suffered the opposite fate. On Monday, the cryptocurrency exchange announced that it is listing Moo Deng (MOODENG), a Solana (SOL)-based meme token with a pygmy hippo theme.
Moo Deng – which means ‘bouncy pork’ in Thai – first became an internet sensation when it was born at Khao Kheow Open Zoo in Thailand this summer. The animal went viral again after it correctly ‘predicted’ the 2024 US presidential election in November.
However, despite its internet fame, the meme item did not perform well when it received support from Coinbase, as it fell from a high of $0.596 on December 4 to a low of $0.448 about a day later, a drop of 12%. It has since stabilized and is trading at $0.468.
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Generated image: Midjourney