A term that is often employed as a verb (mooning) to describe a cryptocurrency that is under a strong upward market trend. Another common use of the expression is in the phrase “to the moon,” which refers to a strong belief that certain cryptocurrency is soon going to rise significantly in price.
Just like many other specialist fields, the financial and cryptocurrency ecosystem has given rise to numerous terms and colloquialisms (slangs and memes). Although not limited to the blockchain industry, the term “moon” is widely used within the cryptocurrency community - especially among investors and traders.
In practice, however, the term seems to be overused as it is not always matching a significant uptrend. It is worth noting that many cryptocurrency enthusiasts and influencers use the expression in an attempt to persuade others on social media, stating that certain coin
or token is about to go to the moon. But in fact, most of them are just “shilling their own bags,” i.e., trying to influence the markets in favor of their own holdings. Such a phenomenon was particularly evident during the 2017 bull market
, when traders, investors, and even the mainstream media got euphoric about the Bitcoin
price and the rising cryptocurrency