Newly created in 2023, MONG crypto is a meme coin initiative.
A comprehensive MONG Crypto Review – 2023
MONG Coin, in contrast to some other humor coins, is linked to an already-existing NFT collection named MONGS NFT. The 6,943 NFTs that make up the MONGS NFT, which was started in January 2022, each feature a distinct mungo (mongoose). MONG crypto will be given as a reward to the owners of these NFTs.
The official website of MONG crypto is basically a typical humorous cryptocurrency platform. The phrase “Mongs” is used here to describe people who have persevered through a bear market and value goodwill, corrupt comedy culture, and positive energy. Therefore, the team behind the new humor cryptocurrency advises anyone who shares these beliefs to purchase MONG coins.
What Benefits Does MONG Offer?
The benefits of MONG crypto are yet not entirely clear. The project’s team has not yet provided a white paper or in-depth details. The fact that MONG is linked to an existing NFT collection, rewards NFT owners with MONG coin, and concentrates on a distinct humor culture, however, raises the possibility that the project might have some benefits.
MONG’s Risks and Difficulties
There are some dangers and difficulties in new cryptocurrency ventures like MONG crypto. Below are a few of them:
- Insufficient details: About MONG crypto, not much is known at this time. It is unclear how the project will advance because there are no documents with white papers or in-depth information. This leads to uncertainty among users about what exactly their expectations of the project should be.
- Market volatility: Due to the turbulence of the cryptocurrency market, the price of MONG crypto may potentially undergo significant variations. As a result, investors must exercise caution when controlling their risks.
- Regulation: Governments and authorities are continuously keeping an eye on the cryptocurrency market. Future legislation could impact the worth and functionality of initiatives like MONG crypto.
- Competition: With every new project, the cryptocurrency market becomes more competitive. It can be extremely difficult for MONG crypto to succeed in this environment.
But of course, the four points listed above are general challenges for cryptocurrencies. Time will tell whether MONG crypto will face all or some of these challenges.
Tokenomics
Every good meme coin, according to the project, merits a kickass PFP. Since Mongs NFT has been a supporter of the MongMob since its start, the project team decided to provide holders of Mongs NFT 6.9% of the total supply of tokens.
The project has set certain milestones and will unlock tokens once each of these milestones is completed. As the first target was recently completed, the team announced that the MONG token can now be claimed.
Over the next three months, this 3% of $MONG will be distributed equally per MongsNFT at a rate of 1% every month. As soon as all tokens have been claimed, the claim period will close. Accordingly, your MongsNFT will be able to claim more in the future, the rarer it is.
The total supply of the MONG token is 690,000,000,000,000,000. At the time of writing, the token was trading at $0.0…04875, according to CoinMarketCap. In the last 24 hours, the token price has decreased by 16.79%.
MONGS NFT
Each “MONG” NFT, according to the MONGS NFT collection, is based on the mongoose, a tiny predatory animal. These creatures can also be found in southern Asia and southern Europe, but they are most common in Africa. These little predators are renowned for their deft takedowns of deadly snakes, such as king cobras.
On the other hand, the word “mong” carries other, less positive, and even derogatory connotations. Since the MONGS NFT collection was inspired by the notoriously incoherent remarks of a US congressman, Brad Sherman, it is also possible that the word “mong” was deliberately used to include these adjectives.
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