Ethereum $3,988.5 MOG Coin, a based meme coin, started to gain value after it was listed on Coinbase, the largest US-based crypto exchange. In a statement on the social media platform X, Coinbase Assets announced that the cat-themed token launched in July 2023 will be supported.
Value Increase After Listing
With Coinbase supporting MOG Coin, this meme token has rapidly gained value. MOG Coin, which was traded at $0.000002375 on December 5, rose to $0.000003418 the next day. The token, currently trading at $0.000003335, has increased by 36% in the last 24 hours.
It is said on the subject: “MOG Coin is now actively traded on coinbase.com and Coinbase’s iOS and Android applications. Coinbase customers can buy, sell, convert, send, receive or store these assets.”
Opposite Results of Previous Listings
A week before this development, another animal-themed meme coin, Moo Deng, was also supported by Coinbase. However, this token failed to show the desired movement upon listing.
Solana-based and pygmy otter-themed Moo Deng became an internet sensation after being born at the Khao Kheow Open Zoo in Thailand in July. Additionally, he came to the fore again with his accurate prediction of the November 2024 US Presidential elections.
However, after receiving support from Coinbase, Moo Deng’s value fell from $0.596 on December 4 to $0.448 the next day, a decline of 12%. Currently trading at $0.468, the token has stabilized.
These two examples demonstrate the impact crypto exchanges can have on meme coins. While listings on major platforms such as Coinbase may increase the value of tokens, they may not always produce positive results.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
