Robinhood Listing Sparks Surge in Memecoins Moo Deng and MEW

Robinhood’s latest update brings two popular Solana memecoins—Moo Deng and Cat in a Dog’s World—to its trading platform for U.S. investors.

Moo Deng, which features a baby pygmy hippo as its mascot, has seen explosive growth, reaching a $230 million market capitalization this month following a viral meme trend in 2024. The token surged over 836% in May alone, adding another 21% in the last 24 hours.

Cat in a Dog’s World, launched in March 2024 during a boom in Solana-based meme tokens, has grown to a $368 million market cap. It climbed 52% in May and gained nearly 20% over the past day.

These listings further bolster Robinhood’s meme coin offerings amid a more relaxed regulatory climate, fueled by recent appointments of pro-crypto officials and the political shift following Donald Trump’s 2024 election win.

In November, Robinhood introduced Pepe Coin (PEPE) to its platform. Today, it supports more than 20 cryptocurrencies, having cut several others in 2023 amid regulatory pressures from former SEC Chair Gary Gensler’s tenure.

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