Up until yesterday, Mooncoin’s (MOON) market value continued to dwindle from its January 24th peaks near $6M, appearing to join the club of altcoins racing toward the basement in market cap rankings, losing 67% in the process.
Mooncoin is defying gravity once again, gaining as much as 50% within the past 24 hours. It now has a market cap of around $3M, representing a partial yet significant recovery of its initial gains and offering hope to investors that this one is really different.
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Since our last update, MOON has moved up to 23rd in market cap from 22nd and is now ahead of Zetacoin (ZTC), considered more of a mainstream altcoin in the crypto-community but which has struggled in recent weeks.
On reddit, there has been speculation that the rise is due to greater publicity amid Mooncoin’s PR blitz on Facebook. There are apparently lots of giveaways for those tweeting and spreading the word of Mooncoin.
Their rising popularity may be drawing the envy of Dogecoin supporters, themselves the beneficiaries of an astronomical rise that seated them in the honourable confines of 6th place in market cap. One Mooncoin supporter was banned from Dogecoin’s subreddit for “tipping too generously”.