Mongoose Coin Is a Reality After Ironic Remarks by a US Congressman

Felipe Erazo
Updated: Jan 3, 2022, 17:18 UTC

Just a single joke during a Congressional hearing was needed to encourage cryptocurrency enthusiasts to create a brand-new coin dubbed Mongoose Coin.

Mongoose Coin FXEmpire

Just a single joke during a Congressional hearing was needed to encourage cryptocurrency enthusiasts to create a brand-new coin.

In this case, a US Congressman, Representative Brad Sherman, made some statements in the midst of regulatory discussions with crypto CEOs, talking about meme coins and the relationship with the name of an animal.

“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?,” Rep. Sherman noted.

MONG Fans Say “Thank You”

In fact, Mongoose Coin (MONG) is now a reality and has a market cap of $14 million, according to metrics from CoinMarketCap. After such a mention in the hearing named “Digital Assets and the Future of Finance: Understanding Innovation in the United States,” MONG has an ROI of over 80,000%.

Not only its price gain steam, as the Telegram group dedicated to the cryptocurrency also had over 2,000 members joined in a single day, while its Twitter account started to rise in terms of followers.

Sherman is an accountant and has served as a Representative for California’s 30th congressional district since 2013 for the Democratic party.

Irony Creates Cash

He doesn’t have a clear background in making friendly statements or against the cryptocurrency industry. Still, it became interesting how just an ironic mention sparked discussions about the risky nature of investing in meme coins like Mongoose Coin, which are exposed to such volatility.

Even so, the astonishing surge of the crypto made the headlines in the mainstream media.

As of press time, the Representative has not issued a statement to talk about the matter nor any of his colleagues, as the discussions about the crypto regulation in the United States keep underway.

However, it shouldn’t be surprising that Sherman’s ironic mention on then-inexistent crypto could encourage other developers to create more meme coins inspired by just ironies like this.

About the Author

Felipe earned a degree in journalism at the University of Chile with the highest honor in the overall ranking, and he also holds a Bachelor of Arts in Social Communication. In addition, he has been working as a freelance writer and forex/crypto analyst, with experience gained at several forex broker firms and forex/crypto-related media outlets around the world.

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