New York
CNN
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What do you get when you combine lower interest rates and a viral baby pygmy hippo?
Moo Deng crypto.
Given the sudden popularity of Moo Deng, the Thai national treasure whose name roughly translates as “bouncy pork,” it was only a matter of time before someone turned her into a digital asset. And given the nature of such memecoins, which have zero underlying value and trade purely on vibes, it’s no surprise Moo Deng Coin has shot up 1,400% since it was created less than three weeks ago.
To be clear: This is an asset about as valuable as Beanie Babies were in the 1990s, though at least then you got to hold a Beanie Baby.
Memecoins, no matter how cute, are not a smart financial play, even if one trader appears to have turned an $800 buy into $3.5 million. (It should be noted that crypto traders…
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