On Wednesday, Representative Brad Sherman had been mocking the existence of an altcoin called Mongoose Coin- by Friday, it was a reality. During the crypto hearing on Wednesday at the House Financial Services Committee, Sherman went on to narrate a story of an old woman who would keep getting bigger as she constantly swallowed larger and larger animals to eat the animals that she previously had engulfed.
This was apparently an allegory to cryptocurrencies uprooting one another, speaking about how Bitcoin could be dethroned by Ethereum, which could be displaced by DOGE, the Hamster Coin, and the like.
Mongoose Coin Comes Into Existence With Congress Speech
In the end, he made a joke about the position of an imaginary Mongoose Coin. With Sherman’s brand of humor in place, the crypto community responded by minting a batch of tokens that were related to the speech and processing it on the Binance, Polygon, and Avalanche Smart Chains. The coin which sprung out was the one that Sherman thought would make for a good joke.
The total market capitalization of the coin has been set at $18.74 million, with just under 3,000 holders. The Twitter bio for the coin states that this was named by Congress, but made by Mongress.
In a post on Medium, a spokesperson from Mongoose Coin decided to outline the roadmap of the coin, stating that MONG was a movement that would capture the fight of the community against the regulators- as it stood for freedom and a completely common goal. There have been other versions of this coin, such as GOOSE, which grew by 48,287.67% over the last 24 hours, Son of Mongoose, and Baby Mongoose.
At the end of his speech, Sherman did clarify that he was cracking a joke. Initially, he had also thought that the Hamster Coin would be a joke- but as it turns out, it was real. And now, he has spelled Mongoose Coin into existence.