What is meant by Mongoose Coin $MONG

Lutfi

What is meant by Mongoose Coin MONG 1
What is meant by Mongoose Coin MONG 1

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

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

Mongoose coin, first mentioned by members of the government in the United States during cryptocurrency trials as a joke, has reappeared this time.

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 held a hearing on this topic on Wednesday.

Trial Includes Cryptocurrency Mongoose Coin $MONG

CEOs from companies in the cryptocurrency industry were present during the hearing. 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's question is sure to stick with people long after the hearing is over.

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

Trial Includes Cryptocurrency Mongoose Coin $MONG

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

“What can Mongoose Coin do against CryptoCoin?” he laughed, adding how he just made up the Mongoose coin thing.

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 had 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 rose following the Congressman's words.

Unlike Mongoose Coin, HamsterCoin did exist before Sherman's statement, which he acknowledged during the trial although he stated that he initially thought he was making it up.

It was clear that Sherman garbled his statement and didn't stick around. However, he is not completely 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 by virtue of the fact that that country exists.

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

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

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

And, of course, meme coins are where it all started. Dogecoin, a cryptocurrency originally developed as a joke, is the most famous example when its value hit one dollar earlier this year.

Mongoose Coin, a meme coin created from a congressional hearing, brings it all together.

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

So some people can lose a lot of money here because of these very “funny” memes.

Meme coins are cryptocurrencies inspired by jokes, sarcasm or puns common on social media.

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

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Lutfi

Hi, let me introduce myself, Lutfi Hulasoh, I am a writer and techno blogger. I started creating a personal blog writing informative articles about the latest trends and developments in technology. My writing covers a wide range of topics, from mobile applications to artificial intelligence, and I can also provide easy-to-understand explanations to help readers understand complex concepts.