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Ethereum meme coin Mog Coin (MOG) has climbed 4% at this time, reaching a brand new all-time excessive of $0.00000245. The token was even briefly within the prime 100 cash on CoinGecko, however has since dropped out.
MOG was created virtually precisely a 12 months in the past, on July 19, 2023, and shares its title with a time period that’s been widespread on English-language message board web site 4chan.
To ‘mog’ somebody is to show your dominance over one other individual. This may are available many types equivalent to heightmogging (to be taller than somebody), fashionmogging (being extra trendy than the moggee), or a brutal mogging (dominating somebody in a number of classes).
So in some ways, the crypto token has been “mogging” its meme coin rivals since its inception. Over the previous three months, MOG has skyrocketed 301% and has now reached a market cap of $820 million in keeping with CoinGecko.
This places MOG forward of tokens like layer-1 blockchain Tezos (XTZ), gaming community Ronin (RON), and metaverse sport The Sandbox (SAND). That additionally makes Mog Coin the ninth largest meme coin by market capitalization, in keeping with CoinGecko.
On the time of writing, MOG is $5 million behind Etheruem-inspired community NEO. If it will possibly shut that hole, it stands an opportunity of breaking again into the highest 100 crypto tokens.
When Mog Coin reached its all-time excessive market cap of $880 million, it had skipped previous NEO which was at $850 million. However it has since misplaced its lead and each tokens have fallen. Presently, NEO sits at a market cap of $825 million.
Mog Coin advanced on the 4chan meme to be related to a personality, Joycat. Joycat has since turn out to be the token’s image. A laughing cat donning pit viper glasses, pointing on the display quickly grew to become synonymous with the coin. Now, traders mimic Joychat by a mixture of emojis or select to don pit vipers in actual life.
“This was the type of mutation essential to propagate the meme into hyper communication and now right here we’re,” a pseudonymous early MOG investor stated on Twitter. “It has really been fairly a deal with to observe all of it unfold in actual time. How a meme can merely go from a verb that describes dominance that the mind has to seek for inside a picture/context, to one thing that’s immediately recognizable.”
Edited by Stacy Elliott.
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