Moo Deng, Mew Update: Memecoin Moo Deng and MEW Experience Rise Following Robinhood Listing

Robinhood has added two Solana-based memecoins, Moo Deng and Cat in a Dog’s World, to its suite of cryptocurrencies available for trading by U.S. customers. Moo Deng, inspired by a baby pygmy hippo, has reached a $230 million market cap this month after its meme gained popularity online in 2024. The token skyrocketed over 836% in May and surged another 21% over the past 24 hours.

Cat in a Dog’s World, on the other hand, is a token based on cats, launching in March 2024 as part of a Solana meme coin frenzy. This token stands at a $368 million market cap after a 52% increase in May, with nearly a 20% rise in the last 24 hours.

These latest additions enhance Robinhood’s selection of meme coins, while the regulatory landscape is becoming more favorable following the nomination of several pro-crypto government leaders and the previous U.S. election results.

In November, Robinhood also added the trading of Pepe Coin, another popular meme coin. The trading app now offers over 20 cryptocurrencies after previously discontinuing several tokens in 2023 amidst a regulatory crackdown led by the former Securities and Exchange Commission Chair, Gary Gensler.