Moo Deng and MEW Memecoins Soar After Debut on Robinhood

Robinhood has expanded its crypto lineup with two Solana-based memecoins: Moo Deng and Cat in a Dog’s World, now available for trading by U.S. users.

Moo Deng, inspired by a baby pygmy hippo meme, has exploded in popularity this month, hitting a market cap of $230 million. The token soared over 836% in May and climbed an additional 21% in the last 24 hours.

Meanwhile, Cat in a Dog’s World, which debuted during the Solana meme coin craze in March 2024, currently boasts a $368 million market cap. Its price rose 52% in May and jumped nearly 20% within the past day.

These new additions come as Robinhood broadens its meme coin offerings amid a friendlier regulatory environment, influenced by the election of President Donald Trump last year and the appointment of crypto-friendly government leaders.

Back in November, Robinhood welcomed Pepe Coin (PEPE) to its roster. The trading app now supports over 20 cryptocurrencies, after discontinuing some tokens in 2023 during a crackdown under former SEC Chair Gary Gensler.