Image default

MongCoin Price Charts New ATH After Rising 3,120% In Five Days

MongCoin price saw its gains balloon in May

Key Takeaways:

  • MongCoin price registered massive gains to chart a new ATH after launching on April 28.
  • The meme token claims to be inspired by a US Congressman’s statement
Read on Read on Google NewsGoogle News

NEW DELHI ( — April’s meme coin frenzy continues in May, as another meme token, MongCoin, registered unrealistic gains after launching on April 28.

The MONG token started trading at $0.0000000028. However, unlike other memecoins, MongCoin price did not spike initially. The token crabbed till April 30 before gaining some traction on May 1. MONG price rocketed 1,850% from May 1’s low of $0.000000004623 to reach an ATH of $0.00000009017 on May 2.

MONG Price rocketed in May
MONG Price rocketed in May. Source: CoinMarketCap

Since its launch, MONG price has spiked by more than 3,120%. However, a profit-booking sell-off near the ATH forced the MongCoin token price to fall nearly 42% before bulls recovered some of the lost ground.

The MONG token price action might have made several traders happy, but the profits remain unrealized. A lack of liquidity could jeopardize the project if some MONG token whales come knocking.

A Joke By A Congressman Gives Birth To MongCoin

MongCoin is an ERC-20 token, which takes its name from an unfortunate speech by California Congressman Brad Sherman. Representative Sherman had joked about cryptocurrencies dethroning one another during a hearing on crypto at the House Financial Services Committee.

Also Read: ETH price could drop to $1.7K as Ethereum whales unload their holdings

The Congressman likened the idea to the fable of a woman who swallowed bigger and bigger animals to eat the ones she previously swallowed.

Bitcoin could be displaced by Ether, which could be displaced by Doge which could be displaced by HamsterCoin and then there’s CobraCoin. What could MongooseCoin do to CryptoCoin?

Congressman Brad Sherman stated.

MongCoin claims to be “a vibe,” stating ‘Mongs are immortal, surviving both rugs and bear markets.’

MongCoin tokenomics. Source: MongCoin website

Per the MongCoin team, 82% of the total MONG tokens would be set aside for liquidity pools (LP), and 4.2% would reach the centralized exchange’s Ps. Additionally, the team would distribute 6.9% of the total token supply to MONG NFT holders, which went live in Jan this year.

At writing, the MONG token had a self-reported marketcap of $39.2 million and with a circulating supply of 565.8 trillion.

The post MongCoin Price Charts New ATH After Rising 3,120% In Five Days appeared first on CoinChapter.

Source link

Related posts

PLS Price Down 50% From Record High Despite PulseChain Airdrop Announcement

Amorette Lepage

DOT Price Prediction: Polkadot Prints Bullish Breakout But Lacks Momentum

Amorette Lepage

XRP Price Prediction: Token Gains 10% and Bulls Are Not Done Yet

Amorette Lepage

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy