Inspired by a viral pygmy hippo from Thailand, the Moo Deng coin has experienced a significant increase in value. On September 10, a user invested $1,300 in the coin and saw their investment grow to over Rs 12 million within two weeks.

Moodeng coin is named after Moo Deng -- a two-month-old pint-sized pygmy hippo who has gained massive internet popularity because of her cheeky expressions and playful frolicking. The memecoin is the latest product of a niche online culture that also birthed Dogecoin and Shiba Inu.