Moon or mooning is a colloquial term used to describe a cryptocurrency that is under a strong upward market trend.
Understanding the term
Just like other fields, the cryptocurrency ecosystem has given birth to numerous terminologies, with “moon” being one of them. One of the most common uses of the word is in the phrase “to the moon,” which refers to the belief that some cryptocurrencies are soon going to rise significantly in price.
The term is nowadays overused as it does not always match a significant uptrend. It is also often misused by cryptocurrency enthusiasts and influencers in an attempt to persuade others on social media. They simply try to influence the market in favor of their own holdings.
The origin of the term “moon” can be traced back to 2017, when Bitcoin started accumulating massive amounts of value. Other examples of mooning include Dogecoin’s price increase from around $0.01 to $0.70 in a matter of three months, as well as Ethereum’s increase in price to $5,000.
Mooning refers to a particular cryptocurrency that some traders think will skyrocket in value. Cryptocurrencies that are “mooning” can experience significant price and volume.