Moo Deng (MOODENG) and cat in a dogs world (MEW) surged 62% and 41% respectively Thursday after Robinhood Markets added both meme coins to its trading platform. The listings mark a strategic expansion for the brokerage into niche crypto assets, capitalizing on renewed retail investor interest.
CoinGecko data shows Moo Deng’s trading volume spiked to $712 million in the past 24 hours, with its price reaching $0.2744 at press time. The token has gained 287% since May 1, outperforming major cryptocurrencies like Bitcoin’s 12% monthly gain. Meanwhile, MEW’s market cap crossed $450 million despite being less than three months old.
Analysts attribute the rally to Robinhood’s growing influence in crypto markets, with the platform now supporting over 50 digital assets. Robinhood’s crypto division has onboarded 1.2 million new users in Q1 2025 alone, according to recent earnings reports.
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Moo Deng’s Meteoric Rise
The bovine-themed token’s 24-hour price chart shows three distinct volatility spikes coinciding with Robinhood’s listing announcement. Derivatives data from Coinglass reveals open interest surged 89% to $18.7 million, suggesting heavy futures trading activity.
Key metrics for Moo Deng:
- Circulating supply: 69 billion MOODENG
- All-time high: $0.2981 (May 22, 2025)
- Holders: 84,721 wallet addresses
MEW’s Community-Driven Growth
The feline-themed rival to Dogecoin has leveraged viral social media campaigns, including a TikTok challenge that generated 2.1 million video creations. Blockchain analysis shows 61% of MEW’s supply is held in wallets containing less than $1,000 worth of tokens.
Notable MEW price levels:
| Support | Resistance |
|---|---|
| $0.0032 | $0.0045 |
| $0.0028 | $0.0051 |
Robinhood’s Crypto Strategy
The brokerage now offers 24/7 crypto trading with zero commission fees, though spreads average 1.2% for meme coins. Robinhood’s crypto custody arm holds $12.4 billion in digital assets under protection, according to their latest security audit.
Recent platform additions:
- Arbitrum (ARB) – May 15
- Peanut the Squirrel – May 18
- Moo Deng/MEW – May 22
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The listings underscore meme coins’ growing legitimacy in traditional finance circles. With Robinhood planning to add 15-20 new crypto assets in 2025, analysts predict increased volatility as retail traders gain easier access to speculative tokens. However, regulators continue monitoring these developments, with the SEC recently expanding its crypto enforcement division by 20%.
