Compared to its previous record-high pricing, Moo Deng, a meme coin based on Solana and inspired by a popular Thai pygmy hippo, has dropped by 22% in the last day of trade and by almost 45% in the last week.

With weekly gains of more than 700%, the Moo Deng meme coin hit its highest point ever on September 28 at $0.338. At the time, it was the largest token in the Pump.fun ecosystem, with a market value of over $300 million. Moo Deng's market capitalization has since decreased by 70% to $90 million.