Users can now trade the MOODENG meme token on Binance through the MOODENGUSDT Perpetual Contract with up to 75x leverage. On Oct. 25 at 10:00 UTC, Binance Futures announced the addition of the Solana-based meme coin MOODENG, inspired by the pygmy hippo, to its trading platform.

Trading Details for MOODENGUSDT Perpetual Contract

According to Binance, the MOODENG meme coin serves as the underlying asset, while Tether (USDT) is used for settlement. The capped funding rate at launch is set at 2.00%/-2.00%. Funding fees will be settled every four hours, allowing traders to manage their positions effectively. Additionally, the tick size for the perpetual contract is set at 0.00001.

Market Response and Performance

Following the announcement by Binance Futures, the MOODENG meme coin surged over 100%, trading at $0.16. Currently, MOODENG holds the 327th position in market rankings with a market capitalization of $160,229,595.

Potential Adjustments by Binance

Binance has indicated that it may adjust the Futures contract periodically. These adjustments could include changes to the token’s funding fee, tick size, maximum leverage, initial margin, and maintenance margin requirements. Users can also utilize the multi-asset mode to trade the MOODENGUSDT perpetual contract, allowing them to use Bitcoin or other currencies as margin.

Origins and Popularity of MOODENG

First launched on the pump.fun platform on Sept. 11, the MOODENG meme coin quickly gained popularity. This rise is attributed to the internet’s fascination with the real-life pygmy hippo named Moo Deng, residing in a zoo in Thailand. Moo Deng’s internet fame has led to a significant increase in zoo visitors, doubling daily attendance numbers. Narongwit Chodchoy, the Director of Khao Kheow Open Zoo, predicts that Moo Deng will bring the zoo over $6.13 million by the end of the year.

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