- MOODENG, PNUT, and GOAT saw explosive gains fueled by social media hype, influencer buzz, and Binance listings.
- Experts warn the surge is largely speculative, with limited long-term fundamentals and high risk of volatility.
In the ever-volatile world of cryptocurrency, a new wave of meme coins—MOODENG, PNUT, and GOAT—has taken center stage. Surging by triple-digit percentages in a matter of days, these coins are capturing investor attention and social media buzz, but experts are urging caution amid the hype.
The rally began in mid-April, just as the broader market was reeling from a downturn following U.S. tariff announcements. As Bitcoin dipped below $80,000, meme coins stepped into the spotlight. MOODENG skyrocketed by 771%, GOAT surged 257%, and PNUT followed with a 220% gain by May 8. The tipping point came on May 11 when Binance listed MOODENG and GOAT, adding significant fuel to an already raging fire.
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Chris Duggan of ChainGPT attributes much of the momentum to community engagement and the role of influencers on X (formerly Twitter). “The hype is largely grassroots but highly viral,” Duggan said. Once larger investors caught wind, the market frenzy intensified.
Dean Chen, a market analyst at Bitunix, points to a mix of capital rotation, social sentiment, and low liquidity as key drivers. “This wasn’t a single catalyst event,” he explained. “It was a perfect storm of investor psychology and opportunistic trading.” He added that large holders, or “whales,” often enter during low-volume periods, creating rapid upward pressure on prices.
Yet the rapid ascent of MOODENG, PNUT, and GOAT also highlights the risks of meme coin investing. Chen warned that these surges often lack the fundamental development necessary for long-term sustainability. “Most of these coins operate in a hype cycle that lasts just a few days,” he said. “Without real utility or roadmaps, the risk of sharp corrections or outright collapses remains high.”
Still, the meme coin sector isn’t without potential. Chen suggests that a few standout tokens could evolve into “meme blue chips” if they foster strong communities and continuous development.
For now, the meme coin market remains a high-risk, high-reward game. Investors are advised to tread carefully and distinguish between fleeting trends and long-term opportunities.