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But the Fed’s super-sized rate cut last week, and signals of more cuts to come, are also powering a surge in crypto broadly, from the Moo Dengs to the more mainstream bitcoin and ethereum, as looser monetary policy tends to benefit high-risk assets like crypto. Bitcoin, the most popular crypto token, is up about 14% over the past week.

Moo Deng, who charmed the internet with her knee biting and lettuce gobbling, has (predictably) had her image appropriated for a memecoin. And, true to form, pop culture addicts and crypto speculators have driven that memecoin’s price up—a lot.

Moo Deng [MOODENG] has surged by over 400% in the past seven days, making it the top gainer among the top 500 cryptocurrencies.

MOODENG price now trades above the 50-day Simple Moving Average (SMA), currently serving as dynamic support, closely aligned with the horizontal support zone. Price seems to respect this moving average, which suggests that the short-term trend is still intact as long as the price remains above this level.