The cryptocurrency field doesn’t cease to surprise. Following yesterday’s hearing where crypto CEOs and leaders testified before Congress, two coins, briefly mentioned by Rep. Brad Sherman, are now the talk of the day following astronomic meme-inspired gains.
- As CryptoPotato reported yesterday, crypto CEOs including Jeremy Allaire, Sam Bankman-Fried, Brian Brooks, and others testified before Congress.
- The hearing was called “Digital Assets and the Future of Finance: Understanding Innovation in the United States.”
- Many things were discussed, and many regulators seemed to have been properly prepared, asking the right questions about the future of cryptocurrency legislation and how both law and industry can work together.
- One of the Representatives, though, namely Brad Sherman, made an ironic remark about the interchangeable nature of cryptocurrencies and the appearance of many memecoins, all of which promise to be the next big thing.
The number one threat to cryptocurrency is crypto. Bitcoin could be displaced by Ether, which could be displaced by Doge, which could be displaced by Hamster Coin, and then there’s Cobra Coin. What could Mongoose Coin do to Crypto Coin? – said Sherman.
- That’s all savvy developers and ‘crypto degens’ needed – not a word more.
- In the minutes after he mentioned Hamster Coin (yes, there’s a cryptocurrency called Hamster Coin), it started surging, and now, less than 24 hours later, it’s up a bit less than 70%.
- Moments after his mention, Mongoose Coin was also brought to existence.
- The cryptocurrency, presently carrying the ticker MONG, is now up over 80,000%, according to data from Dextools.
- Not only that, but the coin is starting to gain serious attention. Its group in Telegram has almost 2,000 in it in less than a day, while its Twitter page is starting to gain traction.
- At the time of this writing, the total liquidity exceeds $2 million, and the daily volume is around $11 million, with a total market cap of $14 million.
- Still, it’s important to be particularly vigilant and beware of a potential rug pull because hype meme-coins like these are very risky.