Not to be confused with the town in Ireland (ironically, the site of a recent drug seizure), Mooncoin (MOON) is one the latest altcoins gaining popularity. The coin aims to “provide the thrill of big coin hunting and trading” but maintain long-term stability. It aims to provide “more sane block release targets” relative to its crypto peers and ease of mining for years to come.
Mooncoin has one the largest quantities of coins in circulation from all cryptos- currently over 26 billion. But it’s not done. Once completely mined, Mooncoin’s total will be 384 million- the number of millimeters from the Earth to the Moon.
It follows that Mooncoin has one of the lowest values per unit among cryptos: currently 0.13 μBTC (0.012¢) on Cryptsy and CoinEx.
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In a recent post on reddit, a sympathetic player from the Fedoracoin (TIPS) community expressed solidarity with Mooncoin, speaking of the tough times encountered when launching on exchanges like Cryptsy. Typically, the coins drop in value immediately after trading is commenced as volumes remain low to start (it is also likely a result of players sipping fiat with their coins for the first time). He recommends traders help one another by “cross investing” to keep volumes up, and even offers help to “pump your market”. As a reward for joining forces, he offers TIPS tips. The pumping terminology is later defended, in that the intention of “pumping” is merely to stimulate volume and not inflate the price.
Mooncoin currently has a market cap of $2.7M, ranking it 23rd. According to its chart on coinmarketcap.com, MOON’s value exploded one week ago, rising several-fold to as much as $6M before retreating toward current levels.