Mongoose Coin: 110,000% Gain in 24 Hours - Rug Pull Alert?

Mongoose Coin ($MONG) exploded onto the crypto scene after Congressman Brad Sherman's comments at a House hearing on crypto gave birth to a new memecoin on Wednesday called Mongoose Coin. But is this meteoric rise sustainable, or is another cryptocurrency rug pull looming?

The new crypto pumped up Mongoose was released as an ERC-20 token 8th Septmember after the Congress hearing into crypto. Senator Brad Sherman asked what would happen if a meme coin called Mongoose, seemingly mocking the proliferation of meme coins like Hamster coin. Little did he know, he'd inadvertently spark a frenzy.

Within hours of Sherman’s comments, Mongoose Coin ($MONG) materialized as a tangible digital currency. Its sudden creation and subsequent market cap growth captured the attention of the crypto world. Representative Brad Sherman joked about how ridiculous a “Mongoose Coin” would be on Wednesday and by Friday, it had become a reality.

Mongoose Coin has gone up 90,000% in 24 hours with 1.1 M trading volume after a Congressman jokingly mentioned it while mocking Cryptocurrency and Hamster coin is also up. During Wednesday’s The cryptocurrency field doesn’t cease to surprise. Following yesterday’s hearing where crypto CEOs and leaders testified before Congress, two coins, briefly took center stage. Shortly after Rep. Sherman's comments, a cryptocurrency called Mongoose Coin ($MONG) was created. Within just a few hours, Mongoose Coin now has a market cap of US$2 million and is Congressman Brad Sherman unwittingly created Mongoose (MONG) after cracking a joke, but the token amassed a market cap of $22.5 million within two days. It runs Within the last 24 hours, Mongoose Coin has had over a 110,000% gain.

Is Mongoose Coin a Rug Pull?

This incredible surge raises serious questions. Is Mongoose Coin a legitimate project, or is it destined to be another fleeting meme coin leading to a rug pull? The speed of its creation and astronomical gains should be a major red flag for investors.

While some view it as a humorous jab at the establishment, others see it as a risky gamble. After US Congressman Brad Sherman mockingly mentioned “Mongoose Coin” at a crypto hearing, it prompted a few crypto degens to launch a memecoin by the same name. But is the development team committed to the long-term success of the project, or are they just looking to capitalize on the hype?

Meme coins are known for their volatility, and This is not new, especially with meme coins. However, the question that remains looming in the minds of many is: Will Mongoose Coin survive the test of time, or will it vanish as quickly as it appeared?

Invest with Caution

Before investing in Mongoose Coin or any other meme coin, do your research. Understand the risks involved and only invest what you can afford to lose. The allure of quick profits is tempting, but remember that meme coins are highly speculative and prone to dramatic crashes. Be vigilant and watch out for potential rug pull signs.