Both tokens surged on the announcement, building on their significant gains this month.
Robinhood has added two Solana-based memecoins—Moo Deng and Cat in a Dog’s World—to its lineup of cryptocurrencies available for trading to U.S. users.
Moo Deng, inspired by a baby pygmy hippo, has soared to a $230 million market cap in May after the meme went viral in 2024. The token has climbed over 836% this month and gained an additional 21% in the last 24 hours.
Meanwhile, Cat in a Dog’s World, a cat-themed token launched in March 2024 amid a wave of Solana meme coins, now boasts a market cap of $368 million. Its price has jumped 52% in May and risen nearly 20% over the past day.
These latest additions expand Robinhood’s collection of meme coins, benefiting from a loosening regulatory environment following the appointment of several crypto-friendly government officials and former President Donald Trump’s election victory last year.
Back in November, Robinhood also added Pepe Coin (PEPE), another well-known meme token. Currently, the trading platform supports over 20 cryptocurrencies, having previously delisted several amid regulatory crackdowns led by former SEC Chair Gary Gensler in 2023.
