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 on Binance Smart Chain. Here are five interesting facts about MONG you definitely don’t know.

1. According to its ‘creator’, the only thing crypto has to fear is crypto itself.

Sherman said:

Bitcoin could be displaced by Ether, which could be displaced by Doge, which could be displaced by HamsterCoin, and then there’s CobraCoin. What could MongooseCoin do to CryptoCoin?  

The project’s Twitter bio now reads, “Named by Congress. Made by Mongress.”

2. Around 6,000 people hold the token

Only 6,000 people have bought MONG, but they managed to drive the price up over 4,000% in just 24 hours. At its highest point, the token had gained 80,000%.

3. It has total liquidity of almost $2.8M

As of December 10, Mongoose’s total liquidity was at just over $2.8 million. Its daily trading volume exceeded $11 million. The price of the crypto has dropped by 16.19% in the last 24 hours.

4. Not another meme coin

It may have started as a joke, but the tokenomics of MONG are pretty serious. MONG generates passive income. 6% of each transaction goes directly to the liquidity pool to strengthen the project price floor. The liquidity tokens are then sent to the burn address. 6% of each and every transaction goes to further market the project.

5. Its makers want to fight the system

According to the official website of the project, the creators are assembling an A-grade team to coordinate a media blitz and create a movement behind the token, which will capture the community’s fight against regulators and for freedom and a common goal. They plan to achieve this as early as by the end of this year.  

The post 5 facts about Mongoose Coin: the newest meme coin born out of the US Congress appeared first on Invezz.