Both tokens jumped on the news, adding to their already large gains this month. May 22, 2025, 9:27 p.m. 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. 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 previously ending support for several tokens in 2023 amid a crackdown on crypto by the former Securities and Exchange Commission Chair, Gary Gensler. Tom Carreras contributed reporting. Helene Braun 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. X icon
Robinhood just went all in on these two memecoins, adding fuel to the fire of their already booming success this month. The ever-popular trading platform announced the addition of Moo Deng and cat in a dog’s world, both Solana-based cryptocurrencies, to its offerings for U.S. customers. Moo Deng, inspired by a tiny pygmy hippo, has seen its market cap shoot up to a whopping $230 million in May alone, riding the wave of a viral meme craze that took the internet by storm in 2024. The token’s value has surged by a jaw-dropping 836% this month, with another impressive 21% spike in the last 24 hours. On the flip side, cat in a dog’s world, a feline-themed token that joined the Solana meme coin frenzy in March 2024, now boasts a market cap of $368 million following a 52% price increase in May. It’s also seen a nearly 20% uptick in value over the past day. Robinhood’s move to embrace these meme coins comes amidst a more crypto-friendly regulatory environment, thanks to the rise of pro-crypto government leaders and Donald Trump’s victory in the U.S. presidential election last year. The platform had previously added Pepe coin to its roster in November, expanding its cryptocurrency offerings to over 20 options. This decision marked a significant shift from its earlier stance in 2023 when it discontinued support for multiple tokens amid a crackdown on crypto under the leadership of former Securities and Exchange Commission Chair, Gary Gensler.
The Rise of Meme Coins on Robinhood
With the addition of Moo Deng and cat in a dog’s world, Robinhood is solidifying its position as a go-to platform for meme coin enthusiasts. The growing popularity of these quirky tokens highlights a shift in the cryptocurrency landscape, with investors increasingly drawn to assets that capture the internet’s playful and often absurd spirit. Moo Deng’s meteoric rise from a simple meme to a $230 million market cap symbolizes the power of online communities to drive value in the digital economy. Similarly, cat in a dog’s world’s success underscores the enduring appeal of feline-themed tokens in the ever-evolving world of meme coins. As Robinhood expands its range of offerings to cater to this trend, it signals a broader acceptance of meme coins in the mainstream financial sector. The platform’s decision to embrace these unconventional assets reflects a changing attitude towards cryptocurrencies, with regulators and market participants alike recognizing the value and potential of meme-inspired tokens. As more investors flock to these playful and unpredictable assets, the future of meme coins on Robinhood and beyond looks increasingly bright.
