Solana memecoin dubbed Mae Moo Deng ($JONA), which was thought to have been coined after the mother to now-trending baby hippo MOODENG has just crashed by over 90%, with thousands of holders now rekt.
JONA was launched over a week ago. The price rallied by 11,164% from the opening price of $0.00005197 to an all-time high of $0.005854, according to data from Dexscreener. The token saw a peak market cap of nearly $6 million. But that was short-lived.
JONA crashes over 95%
The gains were all wiped off shortly after a Thai zoo, “Khao Kheow Open Zoo,” where MOODENG and the mama hippo are kept, revealed that JONA is the wrong name.
The zoo corrected the mama hippo’s name to “JONAH” from “JONA,” which sent the token’s price crashing.
JONA is currently down over 95% from the ATH. There is now just about $68,000 in liquidity locked, with the market cap floating around $227k, according to Dexscreener.
Some people, however, accused the Thai zoo of possible market manipulation, given that there already existed a “JONAH” meme token, also coined after MOODENG’s mama hippo.
The $JONAH token was launched at about the same time as the other. However, it only began to rally after the zoo’s tweet. JONAH is up over 1,000% in the 24-hour timeframe, with $1.8 million in market cap.
Hippo meme trend takes off with MOODENG
The new hippo meme trend began with the MOODENG – the baby hippo. MOODENG was rated the largest 24hr gainer on Thursday, as the market cap touched $145 million, Cryptopolitan reported.
At the time of writing, MOODENG sees an even higher market cap of over $271 million, with reports of early buyers now holding millions of gains.
Earlier today, Lookonchain reported on a trader who turned $1,331 to over $9.5 million from buying MOODENG.
