In less than a decade, crypto has gained immense popularity across the globe. The increase in demand has led to different crypto-associated terms and slang becoming more common. One such term is mooning. Read further to understand what is mooing and why people use it to indicate different trends in the market.
What is Mooning in Crypto?
Mooning is a term used to refer to a cryptocurrency that is experiencing a strong upward market trend. Besides that, people also use a common phrase ” to the moon”, which describes a strong belief that a type of cryptocurrency will experience a significant rise in price.
Similar to any other fields, the cryptocurrency and financial ecosystem has given rise to different terms. Surprisingly, the term “moon” is greatly used within the cryptocurrency community- especially, among traders and investors who use it.
While the term is getting popular, in practice, people overuse it even when there is no significant uptrend that matches the term. Note that many cryptocurrency influencers and enthusiasts use this expression to motivate or persuade people on social media to invest in a coin, stating that a certain token or coin is mooning. But in reality, they are trying to influence the market to manipulate the situation in their favor.
Where Did Mooning Come From?
Now that you know what is mooing, you probably want to learn where it comes from. This term or concept was first introduced in 2017 when bitcoin started to gain a great amount of value. This is the time when people said that it went to the moon. When you look into history, i.e. back to 2017, you will notice that Bitcoin was worth $1,000, and reached $20,000 in the same year, 2017. Well, bitcoin mooned that year, and it will probably happen again.
How does Any Cryptocurrency Gain Value?
Since you know what is mooning, you could understand that mooning can be great if you have the right crypto. But how can it gain value? Crypto can gain or lose value based on supply and demand.
If more people start buying a cryptocurrency, crypto holders or suppliers can start demanding higher prices, leading to a higher value. It is similar to the supply and demand that determines the values and prices of the houses, stock market, cars, etc.
Frequently Asked Questions
Still, looking for more info? We’ve compiled a list of FAQs – check them out!
How do You Spot a Mooning Crypto?
When a coin’s price experiences a sudden spike, it’s a sign of mooning crypto. If you have that coin already, you can enjoy the benefits of its increased value and can sell it.
Is Mooning a Slang?
Mooning is a slang term used to define the rising price of crypto by cryptocurrency enthusiasts and investors.