A “Useless” Memecoin Shot up 7874% In 3 Days, Rivaling PEPE?

• MONG trends on Twitter alongside PEPE with 295K tweets so far.
• MongCoin (MONG) recorded a price gain of over 450% in the last 24h.

In recent times, speculation and hype have undeniably proven to be the prime drivers of the memecoin season 2023. Contending with the viral PEPE coin, a new low-cap memecoin MongCoin (MONG) jumped 7874% in 3 days — from $0.00000000781 (on Apr. 29) to its new ATH at $0.00000006665.

As per the statistics, MongCoin (MONG) skyrocketed more than 454% in the last 24 hours to trade at $0.00000006185. 

Specific details of the memecoin project — such as circulating supply and market capitalization — stand unverified by leading crypto data aggregators such as CoinMarketCap and Coingecko. Per the MongCoin team, at press time, a total of 565.8 trillion MONG tokens stood with a value of $30.8 million in the cryptocurrency market.

MONG, at press time, is the 2617th cryptocurrency by market capitalization on CMC. The memecoin is currently available for trading on Uniswap, both on v2 and v3, as the MONG/WETH pair.

Notably, MONG landed on the trending list with 295K tweets on Twitter, reflecting the community’s enthusiasm toward the project. 

Interestingly, on its official website, the project declared: 

“$MONG is a meme coin with no intrinsic value or expectation of financial return. There is no formal team or roadmap. the coin is completely useless and for entertainment purposes only.”

The Memecoin Season

This year started off displaying the bullish market sentiment of memecoins. Initially, the Doge-themed memecoins — DOGE, SHIB, FLOKI and BABYDOGE — exhibited favorable price rallies. Remarkably, April paved the way for the dominance of frog-themed PEPE in the crypto market. Infamous memecoins such as MONG and BOBA are beginning to stage their hype cycles parallel to them. 

One speculative question — Will the memecoins hype be sustained for a longer period in the sector? – lingers among the crypto community.

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