South Korea’s largest digital asset exchange, Upbit, has officially announced the listing of the memecoin MOODENG across its KRW, BTC, and USDT trading pairs, significantly expanding the token’s accessibility.
The listing was posted on July 3 at 13:47 KST, with trading support scheduled to begin at 17:00 KST. MOODENG will operate on the Solana network, and deposits or withdrawals through any other network are not supported.
The announcement includes strict initial trading limitations to ensure market stability, such as a 5-minute restriction on buy orders and sell orders below 90% of the previous day’s closing price.
Furthermore, only limit orders will be allowed for the first two hours post-launch.
Upbit Implements Safeguards and Compliance Measures for MOODENG
To maintain a secure trading environment and comply with regulatory standards, Upbit issued specific deposit guidance for MOODENG.
Users must use verified personal wallets, and deposits from unrecognized exchanges or through unverified sources may be delayed or rejected.
The official Solana-based contract address for MOODENG was also provided to prevent erroneous transactions.
Upbit warned that deposits made without proper verification could result in non-refundable or severely delayed processing times.
These precautions reflect Upbit’s adherence to the “travel rule” and its emphasis on user fund security, particularly for newly listed digital assets with high volatility and hype, such as memecoins.
Market Reacts: MOODENG Spikes Nearly 50% Following Listing News
The market responded swiftly to the listing announcement, with MOODENG’s price climbing to $0.2077, representing a 49.12% increase over the last 24 hours.
It also posted a 48.25% rise over the past seven days, indicating sustained momentum.
The token’s 24-hour trading volume soared to $365.4 million, suggesting strong investor interest and active participation across various platforms.
With a circulating supply of 990 million tokens, MOODENG’s market capitalization now sits at approximately $217.2 million.
The explosive growth mirrors the pattern often seen with newly listed tokens on major exchanges, particularly those fueled by speculative demand and memecoin hype.
MOODENG’s Launch Reflects Broader Trends in Memecoin Ecosystem
The successful listing and price rally of MOODENG highlight the increasing influence of community-driven tokens in the crypto space.
As part of the broader memecoin resurgence, MOODENG’s Upbit listing signals growing mainstream acceptance of alternative tokens traditionally seen as niche or speculative.
However, Upbit’s layered restrictions and compliance protocols indicate a shift toward more regulated and cautious onboarding of such assets.
Investors are advised to remain vigilant, given the high volatility and inherent risks of memecoin markets.
Nevertheless, MOODENG’s debut underscores the dynamic nature of digital assets and the critical role exchanges like Upbit play in shaping investor access and sentiment.
MOODENG Listing Reflects Larger Trends in the Memecoin Space
The listing of MOODENG follows a series of similar moves by Upbit that have resulted in notable price surges for newly listed tokens.
Hyperlane (HYPE) and RedStone (RED) saw price increases of 11.13% and 3.05%, respectively, within 24 hours of their listings.
The FLOCK token experienced a massive 52.40% jump after its BTC and USDT pair launch on Upbit, with trading volumes exceeding $14 million.
Meanwhile, KERNEL spiked 28.66% after being listed with BTC and USDT pairs, supported by Upbit’s promotional events, including fee discounts and a 1 BTC prize pool.
These examples reinforce Upbit’s role as a key market mover, with its listing announcements consistently triggering major price action and shaping sentiment within the South Korean and global crypto markets.
Also Read: Upbit Announces Listing of Ravencoin in Korean Won Trading Market Leading to 90% Surge In $RVN Price