In December 2021, Representative Brad Sherman gave the “Mongoose Coin” example to demonstrate how ridiculous crypto was.
Three days later, a token called MongooseCoin was created, inspired by this funny looking old man’s ramblings in Congress.
We have included a YouTube clip from the actual day the MongFather made his satirical commentary on Bitcoin and the overall Cryptocurrency market.
The Rise and Fall of MongooseCoin & Relaunch of MongCoin
In early January 2022, MongooseCoin launched on BNB Smart Chain (BSC) under ticker symbol ‘MONGOOSE’, before its value eventually collapsed to nearly zero over the course of the next 1 and 1/2 years. However, the team behind it decided to worked on a revival on the Ethereum blockchain.
In late April 2023, Crypto Bitlord, a famous crypto influencer, announced the re-launch of MongCoin. He even got a tattoo of the project on his head to demonstrate how much he believed in the re-launch.
The $MONG token was finally launched towards the end of April 2023. Around May 24, 2023, the token’s market cap briefly shot to over $180 million market cap, before falling back -95% or more. Since then, it has been on the recovery path and steadily climbing for the past few weeks. Its market cap could reach above $15 million in the next few days.
[Click The $MONG Chart Above To Trade The Token On DexTools]
The MongsNFT Collection
Following the re-launch of MongCoin on April 23, 2023, they integrated the project with the MongsNFT collection. This NFT collection also orginally launched in January 2022 to complement the initial launch of the $MONGOOSE token. It consists of generative art pieces based on a cartoon Mongoose meme.
The current team allocated 6.9% of $MONG tokens to MongsNFT rewards. These tokens are distributed over time when a market cap milestone is achieved.
Part of the tokens will go to a burn mechanism for the MongsNFT collection. Those that agree to burn their NFTs will receive rewards in $MONG tokens. The goal is to reduce the supply of the MongsNFT collection, which will raise its demand and value.
The team is also working on the Royal Mongs NFT collection. It is a collection of NFTs based on the Bitcoin blockchain containing inscriptions. Once launched, these NFTs will be purchased using $MONG tokens.
The Launch of Hamster Coin and So Much More…
The Hamster Coin project launched as part of the rapidly expanding $MONG ecosystem. It launched exclusively as a $MONG pair. The $HAMSTR tokens are distributed via claim drop using $MONG, MongsNFT, and Mongoose V1. While the team has not revealed much about $HAMSTR, the claim users can access new products tied to the token.
The $MONG Community + Ecosystem
Recently, the MongCoin community launched a community development fund, which will support the expansion of the $MONG ecosystem. In a subsequent article, we will focus on the other pairs in the rapidly growing MongCoin ecosystem, as documented by the image above. The fund focuses on creating promotional material, educational material, documentary storytelling, TikTok-style videos, artwork, and more. Its goal is to spread the word as far as possible.
The Future of $MONG
While $MONG may have started life as a meme coin, it has tried to outgrow that label by adding utility to its ecosystem. Thus far, it has enjoyed some recent success, with its market cap steadily climbing back to $13 million. For a token that is just a few months old, that is an impressive performance. It shows the dedication of the community supporting it, to ensure it becomes the next big name in the meme coin with utility world.
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