• Rep. Sherman mentioned Mongoose Coin (MONG) during a congressional hearing, and it was created with an 80,000% return

    • The cryptocurrency market never ceases to amaze. Following yesterday’s hearing in which crypto CEOs and leaders testified before Congress, two coins, briefly mentioned by Rep. Brad Sherman, have become the talk of the day due to astronomical meme-inspired gains.
    • Jeremy Allaire, Sam Bankman-Fried, Brian Brooks, and other crypto CEOs testified before Congress.
    • “Digital Assets and the Future of Finance: Understanding Innovation in the United States,” was the title of the hearing.
    • Many topics were discussed, and many regulators appeared to be well-prepared, asking pertinent questions about the future of cryptocurrency legislation and how law and industry can collaborate.
    • However, one of the Representatives, Brad Sherman, made an ironic remark about the interchangeability of cryptocurrencies and the emergence of numerous 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 was all that savvy developers and ‘crypto degens’ needed – not a single word more.
    • It started surging minutes after he mentioned Hamster Coin (yes, there is a cryptocurrency called Hamster Coin), and it’s now up a little less than 70% less than 24 hours later.
    • Mongoose Coin was also created shortly after his mention.
    • According to Dextools data, the cryptocurrency, which is currently trading under the ticker MONG, is now up more than 80,000 percent.
    • Not only that, but the coin is beginning to gain traction. Its Telegram group has nearly 2,000 members in less than a day, and its Twitter page is gaining traction.
    • At the time of writing, total liquidity exceeds $2 million, and daily volume is approximately $11 million, with a total market cap of $14 million.
    • Still, it’s critical to be extra cautious and wary of a potential rug pull because hype meme-coins like these are extremely risky.
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