MOONPIG, a new Solana memecoin backed by the $1.1B Hyperliquid perps whale, has surpassed $120 million market cap and just landed its first listing on a centralized exchange.

Moonpig (MOONPIG) is a memecoin is centered around a cute pig character in a spacesuit. It was launched earlier this month on the Solana (SOL) memecoin launchpad Pump.fun and has since attracted almost 10,000 holders, according to Solscan.

Today, MOONPIG briefly surged past a $120 million market cap following its listing on Poloniex, though it has since retraced to below $100 million.

Among those backing MOONPIG is Hyperliquid whale James Wynn, who recently grabbed headlines for his $1.1 billion BTC perpetual position.

Since hitting an all-time low of $0.004102 on May 6, MOONPIG has surged to its all-time high of $0.1212 as of about an hour ago, marking a gain of approximately 2,855% in less than 3 weeks. However, it has since retraced to $0.1001, still up by 10% in the past 24 hours, buyoed by the Poloniex listing.

At press time, MOONPIG price appears to be pulling back from its ATH, with the RSI at 73, signaling overbought conditions. This suggests that MOONPIG may be due for a short-term correction or consolidation. While the MACD remains in bullish territory — with the MACD line above the signal line — the declining histogram bars indicate waning momentum.