Investors and traders are surely familiar with the phrases “going to the moon” and “mooning”. Well, for those who are asking what it is, “going to the moon/ to the moon” means that a cryptocurrency would have a significant increase or skyrocket in its price in the future. It could also mean that a particular cryptocurrency is currently in a good market performance or a strong upward trend.
Some people have suggested that the phrase “going to the moon” was first used last 2017 in a cryptocurrency called Bitcoin or BTC for short. The said digital currency unexpectedly reached its significant peak value that time to almost $20, 000 or almost a million pesos.
Is “going to the moon” a kind of bait?
There are analyses from crypto experts saying that this “going to the moon” phrase is like bait for consumers to engage in the market. In other words, the phrase was used to persuade the consumers to buy. In this case, owners indirectly manipulate the price of cryptocurrencies to make them higher than before.
If they were baited, the company owners would benefit especially in terms of profit. A bull market, which is the term used to describe a market in an upward trend, is also likely to happen with the continual use of this catchy phrase.
What cryptocurrencies have the potential to go to the moon?
Aside from Bitcoin and Dogecoin that both received a to the moon influence from the well-known entrepreneur, business magnate, and cryptocurrency influencer Elon Musk, there are more of them that investors must consider.
Analyses showed that this popular Ethereum (ETC) could overthrow Bitcoin in the lead in the future. Currently, it is speculated to reach over $10, 000 or almost half a million pesos. Shiba Inu (or Shib for short) is another cryptocurrency to consider buying before it gets to the moon. In the past months, Shiba Inu consistently showed bullish market performance making its way to gain more and more popularity. Its incredible market performance also shows that it doesn’t need the influence of high profiles such as the likes of Elon Musk, who also once snubbed Shiba Inu.
Furthermore, other cryptocurrencies that have high chances of going to the moon soon include Tether, Monero, Algorand, Solana, Chainlink, and Cardano. However, since the crypto market has high volatility, other digital currencies might be included in the top list in the next coming months or years.
The Bottom Line
Just like what I have mentioned earlier, this catchy phrase acts as bait for consumers. Famous personalities like Elon Musk can add extra spice to this phrase. Once a consumer gets baited, then a manipulation in the price of the cryptocurrency will take place. Most likely, it will be a good one.
The lesson here is that do not get easily persuaded by these kinds of phrases. Make your research on cryptocurrency if you want to get involved here. Next, decide whether a particular cryptocurrency would be likely to go to the moon or not. Lastly, share what you have learned from your research (and other sources as well) so you can also help those neophytes in this field from losing in the beginning.
