Memecoin Moo Deng and MEW Experience a Surge Following Robinhood’s Listing

Robinhood has recently expanded its cryptocurrency offerings by incorporating two new memecoins based on Solana: Moo Deng and Cat in a Dog’s World. These additions are now available for trading among U.S. customers.

Moo Deng, inspired by a baby pygmy hippo, has experienced incredible growth, reaching a market cap of $230 million this month after its meme gained popularity in 2024. The token surged by an astonishing 836% in May alone and has seen an additional 21% increase in the last day.

Conversely, Cat in a Dog’s World, a token launched in March 2024 during a surge of interest in Solana-based memecoins, boasts a market cap of $368 million. Its value increased by 52% in May, and it has also risen nearly 20% in the past 24 hours.

These recent additions further enhance Robinhood’s lineup of meme coins as the regulatory environment becomes more accommodating, following the election of pro-crypto leaders, including President Donald Trump.

In November, Robinhood included trading for Pepe coin, another notable memecoin. Currently, the trading platform supports over 20 different cryptocurrencies, having previously discontinued several in 2023 due to a regulatory clampdown led by former SEC Chair Gary Gensler.