Moo Deng is facing a correction after surging for a whole week.
Moo Deng ($MOODENG), a meme token on Solana, was subject to intense market activity between May 8 and May 16, 2025, in traditional meme coin volatility. Between May 8 and May 13, $MOODENG went from being valued with a market capitalization of $37.8 million to $325 million, a staggering 726% increase. This was first noted in our May 9 report, when the token had reached a market capitalization of $110 million, following a dramatic spike in volume of trades and investor interest.
But then, following its $325 million peak on May 13, $MOODENG had a sharp correction, dipping to $311 million, creating a resistance level by then. The correction continued, and the market capitalization of the token declined further from $311 million on May 14 to $200 million by May 16, 2025. That is a 35% drop from the $311 million resistance level in the past three days. Correction aside, the 24-hour volume remains on $7 million, indicating there is still market activity.
$MOODENG, drawing inspiration from the Southeast Asian cultural dish of signature red pork and its cultural significance in Southeast Asia’s world of cryptocurrencies, is already in the news with its community build and viral marketing. Its previous success, in terms of its market capitalization, such as its $43.7 million in April 2025, had been catalyzed by airdrops, NFT distribution, and local influencer partnerships, as shown in past web searches. However, its all-time high (ATH) market capitalization of $702 million, when it was most popular, remains a mirage, its recent dip being a pointer to how hard it is for this kind of tempo to be sustained.
The $311 million mark has now become a significant resistance for $MOODENG. For the token to rise to higher prices and maybe get closer to its ATH, it would need to surpass this resistance, which has become a major hindrance in its path. $MOODENG’s overall supply is also estimated at around 1 billion tokens, the typical number for Solana-based meme tokens, and therefore its price action is simpler.
$MOODENG’s May 8-16 run showcases the unpredictable nature of meme coins, with gains being followed by corrections in a short while. The coin is currently in a $200 million market capitalization, and investors are hoping that it will be able to cross the $311 million barrier and continue an uptrend in the crowded Solana meme coin market.
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