What Does Mongoose Coin $MONG Mean

Rancakmedia.com – Will the Mongoose Coin $MONG, which started out as a joke, become as famous as the Shiba Inu? The rise of the Mongoose coin is like the Shiba Inu, a popular dog that helped several of their owners become instant billionaires.

Mongoose coin still seems strange, but the fact that the crypto world is really full of surprises sometimes doesn't make sense with the emergence of certain crypto coins that were originally just a joke.

The Mongoose coin, first mentioned as a member of the government in the United States during cryptocurrency trials as a joke, has resurfaced this time around.

Digital Assets and the Future of Services Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States” The US House of Representatives Financial Services Committee conducted a hearing on this topic on Wednesday.

Trial Covers Cryptocurrency Mongoose Coin $MONG

The CEO of a company in the cryptocurrency industry was present during the trial. Several CEOs of cryptocurrency companies including Coinbase, Bitfury, and FTX fielded questions from members of Congress about the future of the sector, regulatory challenges, how it will affect banking and financial services, and more.

However, one member of Congress' question is sure to stick with people long after the session is over.

“The number one danger to cryptocurrencies is crypto,” said Brad Sherman, a Democratic congressman from California, quoted from Mashable.

“Bitcoin can be replaced by Ether, Doge can be replaced by Hamster Coin and then there is CobraCoin.”

“What can Mongoose Coin do to CryptoCoins?” he laughed, adding how he was just making this up about Mongoose coins.

Mongoose Coin $MONG in Cryptocurrency Market

Shortly after Sherman's statement, a cryptocurrency called Mongoose Coin ($MONG) was created.

In just a few hours, Mongoose Coin already has a market value of US$2 million or the equivalent of 28 billion rupiah at an exchange rate of Rp. 14,000 and up 320,000 percent since its introduction.

The hamster coin also went up following the words of the Congressman.

Unlike Mongoose Coin, HamsterCoin did predate Sherman's statements, which he admitted during the trial although he stated that he initially thought he was making it up.

It became clear that Sherman messed up his statement and didn't stick around. However, he is not entirely off the mark with his argument.

With fiat money, the US dollar could become the standard global currency, but another country's national currency would continue to have value simply because of the fact that it existed.

In crypto, as we have seen time and time again, alternative coins fail, become worthless, and just disappear. Congressional audiences are often ideal material for internet memes.

Remember how many times Mark Zuckerberg's “Senator, we run advertising” statement popped up on social media?

Who better to spread the word about something most tech-savvy young adults already know?

And, of course, the meme coin is the start of everything. Dogecoin, a cryptocurrency originally developed as a joke, is the most famous example of when its value topped one dollar earlier this year.

The Mongoose Coin, a meme coin created from a congress session, brings it all together.

This is so impossible! However, it is possible that Mongoose Coin could turn into another pump and dump in crypto time.

So some people could lose a lot of money here because of this very “funny” meme.

Meme coin is a cryptocurrency inspired by jokes, sarcasm or puns common on social media.

According to Coinmarketcap, there are currently around 124 meme coins. Meme coins like Shiba Inu and Dogecoin are among the most widely used.