Ethereum $MooDeng falls and washes out. As a Web2 traffic giant, what is the future potential for growth?

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远山洞见2024/10/14 07:07

By:远山洞见

I. Project introduction

Moo Deng is a MEME coin based on Ethereum, which has been taken over by the community CTO. The inspiration for the project comes from Moo Deng, a dwarf hippopotamus living in Khao Kheow Zoo in Chonburi Province, Thailand. With its cute appearance, round body shape, and unique exaggerated expression, this little hippopotamus quickly became popular on social media and became the focus of global users' discussions. The goal of the Moo Deng project on Ethereum is to replicate its success on the Solana public chain, using Moo Deng's high popularity and the global community effect it has formed to attract more investors and fans to participate through online interaction, offline activities, and airdrops. At the same time, the project team is also collaborating with well-known KOLs on social media and actively carrying out offline promotion activities, trying to continue to heat up Moo Deng's popularity and make it occupy a place in the Meme token field.

Ethereum $MooDeng falls and washes out. As a Web2 traffic giant, what is the future potential for growth? image 0

Narrative Description

Moo Deng, a two-month-old dwarf hippopotamus, has gone from Khao Kheow Zoo in Thailand to the world with its naturally cute posture and simple expression. In its daily interactions with its keepers, it occasionally shows a cute "rebellious" behavior, such as trying to "bite" the keeper's clothes or jumping around when sprayed with water, which is hilarious. Such funny moments quickly spread on social media, making Moo Deng a rising star on the internet.

As the popularity of Moo Deng continues to soar, well-known brands and KOLs have joined the carnival. Heavyweight accounts such as NFL's Buffalo Bills and Uniswap Labs have created Meme content for it on social media, and even artist Beeple has specially designed unique artworks for it. Vitalik Buterin has also mentioned Moo Deng multiple times on social platforms and publicly expressed support for the project. The participation of Pepe developers has further enhanced the community resonance and appeal of the project.

In the promotion activities in the North American market, Moo Deng's team expanded the popularity of this dwarf hippopotamus to a wider circle through offline promotion and community activities. At the same time, media platforms such as "Formula News" released in-depth reports on Moo Deng, which has gained high attention and sustained discussion in the Chinese region.

III. Market value expectations

Moo Deng ($MOODENG) is a MEME coin based on Ethereum. With its strong community support and unique association with the pygmy hippopotamus Moo Deng, it has attracted widespread attention in the market. Currently, the token price of $MOODENG is 0.000087 US dollars , and the circulating market value is about 36.60 million US dollars .

By comparing the market value with other similar projects, we can further estimate the market potential of Moo Deng ($MOODENG).

Benchmarking project

Moodeng on the Sol chain : unit price 0.129 US dollars , circulating market value 128 million US dollars .

BOME : Unit price 0.0087 US dollars , circulating market value 604.50 million US dollars .

PEPE : Unit price 0.00001 US dollars , circulating market value 4.315 billion US dollars .

Estimated market value and token price

Assuming the market value of Moo Deng ($MOODENG) reaches the level of these benchmark projects, the expected token price and increase are as follows:

Benchmarking Sol chain Moodeng : If the circulating market value reaches 128 million dollars , the price of $MOODENG is about 0.000304 dollars , an increase of 3.49 times .

Benchmarking BOME : If the circulating market value reaches $604.50 million , the price of $MOODENG is about $0.001434 , an increase of 16.49 times .

Benchmarking PEPE : If the circulating market value reaches $4.315 billion , the price of $MOODENG is about $0.010243 , an increase of 117.72 times .

IV. Economic models and on-chain chip analysis

1. Economic model design

The project team adopted a more aggressive strategy in designing the economic model. After the contract was deployed, the developer injected 98% of the chips into the Uniswap liquidity pool, enhancing liquidity in this way. However, the project team conducted multiple chip operations in a short period of time, including spending 2 ETH to buy 12.71% of the chips, and then transferring 14.6% of the chips to Vitalik. This series of operations to some extent increased the market's attention to the project. At the same time, the project team spent 3 ETH to repurchase MOODENG two days later and burned all holdings, obtaining about 60 ETH in transaction tax revenue in this way. On the one hand, this reduces the market supply of tokens, enhances scarcity, and on the other hand, enhances the market attractiveness of the project.

2. Chip distribution structure

The current chip distribution structure has a certain degree of concentration. The top 10 EOA addresses hold about 20% of the chips, Vitalik personally holds about 10% of the chips, and the liquidity pool only has 1.0457% of the chips left. The concentrated holding of large chips increases the risk of selling, as these addresses have achieved significant profits. If there is a situation where holders sell, it may bring significant downward pressure to the token price.

3. On-chain holding address analysis

Active level analysis: Currently, 84.5% of the holding addresses have been active in the past 7 days, while only 3.4% of the inactive addresses have shown an overall high active level. Over 62% of the addresses have interacted with more than 10 other addresses, and only 3.2% of the addresses have never interacted. At the same time, 64% of the addresses have initiated more than 10 transactions (Tx), and only 3.2% of the addresses have never initiated transactions, indicating a relatively high level of participation among holding users.

Age distribution: 29% of the addresses holding coins have been created for more than 1 year, while only 10% of the addresses were recently created. Invalid addresses account for 3.4%, indicating that the project has a relatively stable long-term user base.

Market performance and latent risk: The current market performance is relatively volatile. Although the on-chain active level and holding address distribution of the project are relatively good, there is a certain selling risk due to the high holding ratio of some large investors and the obvious profits of these EOA addresses. In addition, the proportion of tokens in the liquidity pool is relatively low. Once the market demand surges, it may cause sharp fluctuations in token prices. In summary, the overall chip structure performance of the project is still acceptable, but it is necessary to closely monitor the changes in the holdings of large investors to prevent potential price risks.

V. Risk Warning

1. The project depends on the community active level. If the participation decreases, the project may be affected

2. As a Meme token, the price may experience drastic fluctuations.

VI. Official links

Website： https://moodeng.vip/

Twitter： https://x.com/moodengctoeth

Telegram： https://t.me/moodengethcto

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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