Moo Deng Goes Parabolic: Why $MOODENG Is Up 155% In 24 Hours

The Moo Deng token has delivered a staggering performance, surging 59.61% in the past 24 hours to reach $0.1213 as of 9 May 2025, according to TradingView data. The surge comes after an over 91% spike in the last trading session.

The viral meme coin, inspired by Thailand’s beloved baby pygmy hippo, has made a dramatic comeback after months of decline. Trading volume spiked to 135.85 million, further underscoring the renewed market interest.

Explosive growth in Open Interest

One of the primary drivers behind this parabolic move is the extraordinary surge in Open Interest. After hovering around $20million throughout April, data showed Open Interest had skyrocketed to approximately $78m, almost a fourfold increase in just a matter of days.

This sharp rise indicates a substantial influx of new capital into $MOODENG futures contracts, signaling heightened trader enthusiasm and positioning for further upside. Elevated open interest often reflects growing speculative activity, a key characteristic of parabolic price movements in meme coins.

Technical breakout confirms bullish momentum

Technical indicators strongly support the bullish case:

• RSI (Relative Strength Index) had reached 88.07, placing MOODENG firmly in overbought territory. While this level typically suggests a potential pullback in explosive meme coin rallies, the RSI can remain elevated for extended periods.
• MACD (Moving Average Convergence Divergence) also points to strong positive momentum, with both the MACD line and the signal line well above zero, reinforcing the bullish sentiment.

The daily chart further revealed that MOODENG had successfully broken above a multi-month downtrend line that has been in place since January when the token initially captured mainstream attention.

After bottoming out at around $0.03 in April, MOODENG has now quadrupled in value, officially entering a new bullish phase.

Market context behind the rally

This remarkable price action comes on the heels of a prolonged bear market for the token, during which it lost over 80% of its value from its January highs. The Moo Deng-themed token has found new life amid renewed retail trader enthusiasm.

The rally also coincides with a broader resurgence in meme coins and altcoins, as market sentiment increasingly shifts toward risk-on assets following Bitcoin’s push beyond the $100,000 mark.

This environment has created the perfect backdrop for high-risk, high-reward tokens like MOODENG to capture trader interest.

Caution: Volatility remains elevated

Despite this impressive rally, investors should be mindful of MOODENG’s extreme volatility. The elevated RSI reading of 88.07 suggests the token is deep in overbought territory, raising the likelihood of a near-term price correction as traders lock in profits.

Additionally, with open interest surging and speculative sentiment driving the market, the potential for sharp pullbacks remains high. Traders should exercise caution and manage risk appropriately, especially given the unpredictable nature of meme coin markets.

Final thoughts

While the rally has captured headlines and delivered spectacular short-term gains, it remains to be seen whether this momentum can be sustained. For now, all eyes remain on MOODENG’s price action in the coming days. Will the baby hippo-themed token continue its charge higher, or is a sharp correction looming on the horizon?