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

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.