According to a recent report from BlockBeats news, it was noted that the Meme currency MOODENG on the Ethereum chain experienced a significant surge of over 290% in just 20 minutes, pushing its market value above US$11 million.
In a related development, Ethereum co-founder Vitalik Buterin made a transaction through KyberSwap by selling 11.76 billion MOODENG and receiving 21.033 ETH in exchange, which roughly translates to around US$50,900.
It is important for users to be cautious when dealing with meme coins as they typically lack practical applications. Investors are advised to carefully evaluate these coins and be mindful of the associated risks.
