In a bold move likely to delight crypto enthusiasts, Robinhood has expanded its offerings to include two Solana-based memecoins, Moo Deng (MOODENG) and Cat in a Dog’s World (MEW), now available for trading by U.S. customers. This development comes amidst a surge in market enthusiasm, with Moo Deng experiencing an eye-popping rise of over 836% in May alone, while MEW has climbed 52% within the same period. Both tokens have seen additional gains in the last 24 hours—21% and 20%, respectively—adding to their growing market caps.
Moo Deng’s Meteoric Rise
Moo Deng, inspired by the adorable yet unlikely image of a baby pygmy hippo, has captivated the market’s imagination. After gaining viral traction online back in 2024, this memecoin has now reached a staggering market cap of $230 million. The token’s wild success is a testament to the unpredictability yet enormous potential of the memecoin sector. Crypto analyst Sarah Kim noted, “Moo Deng’s rise is a clear indicator of how community-driven narratives can propel a token to unanticipated heights.”
The coin’s recent listing on Robinhood seems to have further invigorated its trajectory. Robinhood’s decision to include Moo Deng amid growing regulatory acceptance signals a notable shift in the industry landscape. The platform, which previously trimmed its crypto offerings in response to regulatory pressures, appears to be regaining its stride. This strategic move aligns with Robinhood’s broader efforts to enhance its crypto offerings, as detailed in our analysis of Robinhood’s Q1 performance.
Cat in a Dog’s World: Riding the Meme Wave
Launched amidst the Solana meme coin frenzy of March 2024, Cat in a Dog’s World (MEW) has carved its niche in the crowded memecoin market. With a market cap now standing at $368 million, MEW’s recent uptick reflects its growing appeal. “It’s a fascinating dynamic,” said crypto market strategist Jason Lee, “This token capitalizes on the age-old internet love affair with cats, while leveraging the Solana network’s speed and efficiency.”
Robinhood’s addition of MEW to its trading roster underscores the platform’s commitment to embracing the memecoin phenomenon, paralleling its November inclusion of Pepe Coin (PEPE). The ever-evolving memecoin landscape appears to be thriving, especially following the election of several pro-crypto leaders and last year’s U.S. presidential win by Donald Trump, which has seemingly paved the way for a more permissive regulatory environment. For more on Robinhood’s strategic direction in the crypto space, see our coverage of Robinhood’s crypto growth strategy.
A Shifting Regulatory Landscape
The inclusion of these memecoins aligns with a broader shift in the regulatory climate. The recent nomination of crypto-friendly government officials suggests a departure from the stringent oversight seen under former SEC Chair Gary Gensler. This change could herald a new era of innovation and acceptance within the crypto sphere, potentially sparking further integration of digital assets into mainstream platforms.
Yet, the road ahead is fraught with uncertainties. While the memecoin craze has shown remarkable resilience, questions linger about the sustainability of such rapid growth. As crypto markets continue to evolve, the interplay between regulatory frameworks and market dynamics will be crucial in determining the future trajectory of these digital assets.
Robinhood’s latest move is more than just an addition to its crypto lineup; it represents a strategic adaptation to the changing tides of the digital currency world. As memecoins like Moo Deng and MEW capture the public’s imagination, their journey could offer insights into the future of decentralized finance and community-driven market forces. Whether these tokens will maintain their momentum or face the volatility inherent in the crypto space remains to be seen—but for now, they’re undeniably in the spotlight.
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This article is based on: Memecoin Moo Deng, MEW Surges After Robinhood Listing
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
