Moo Deng hit a peak market value of $336 million on the same day Saturday Night Live addressed the viral sensation in its Weekend Update segment.

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.

The Moo Deng crypto has seen its price climb more than 1,400% since it was launched on Sept. 10. But the token price is already on the decline. It’s down 8% in early trading Mon