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By Helene Braun|Edited by Aoyon Ashraf
May 22, 2025, 9:27 p.m.
- Robinhood has added two Solana-based memecoins, MOODENG and MEW, to its cryptocurrency offerings for U.S. customers.
- MOODENG, inspired by a baby pygmy hippo meme, has reached a $230 million market cap, surging over 836% in May.
- MEW, launched during a Solana meme coin frenzy, now holds a $368 million market cap after a 52% price increase in May.
Robinhood has added two Solana-based memecoins, Moo Deng and cat in a dog’s world , to its suite of cryptocurrencies available to trade for U.S. customers.
Moo Deng, which is based on a baby pygmy hippo, has risen to a $230 million market cap this month after the meme went viral online in 2024. The token skyrocketed over 836% in May and jumped another 21% over the past 24 hours.
STORY CONTINUES BELOW
Cat in a dog’s world, on the other hand, is a token based on cats, which launched in March 2024 as part of a Solana meme coin frenzy. The token stands at a $368 million market cap after its price rose 52% in May. It is up nearly 20% over the past 24 hours.
The latest inclusions add to Robinhood’s list of meme coins, and the regulatory landscape is becoming much more flexible after the nomination of several pro-crypto government leaders and President Donald Trump’s U.S. election win last year.
In November, Robinhood added the trading of Pepe coin
, another popular meme coin. The trading app currently offers over 20 cryptocurrencies after previouslyending support for several tokensin 2023 amid a crackdown on crypto by the former Securities and Exchange Commission Chair, Gary Gensler.
Tom Carreras contributed reporting.
Helene is a New York-based markets reporter at CoinDesk, covering the latest news from Wall Street, the rise of the spot bitcoin exchange-traded funds and updates on crypto markets. She is a graduate of New York University’s business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.
