Overview
MongCoin (MONG) is a memecoin on Ethereum themed around the tongue-out emoji face — a deliberately absurd, irreverent mascot in the tradition of internet shitposting culture. Launched in April 2023, MONG was one of many memecoins that emerged during the explosive memecoin season triggered by PEPE's meteoric rise. The token briefly achieved a market cap exceeding $100 million, driven by speculative frenzy and social media hype.
The MongCoin brand embraces maximum absurdity — the marketing, community culture, and even the name are designed to be intentionally "dumb" in the way that resonates with memecoin degens. There is no whitepaper, no roadmap pretending to have utility, and no pretense of being anything other than a memecoin.
Like most memecoins born from a specific hype cycle, MONG experienced a sharp decline after the initial frenzy subsided. The token has lost the vast majority of its peak value, and community engagement has waned significantly from its April-May 2023 heights.
Community
MONG's community grew rapidly during the PEPE-led memecoin mania of April-May 2023. Social media engagement was high, with Twitter/X activity, Telegram groups, and memecoin-focused Discord channels amplifying the token. The community culture was pure degen — celebrating losses, posting memes, and competing to be the most absurd.
However, the community has contracted significantly since the initial hype. The Twitter/X following, while still measurable, shows reduced engagement. Telegram and Discord activity has declined. The community that remains is a small core of holders who either believe in a potential revival or are sitting on losses. MONG lacks the staying power of blue-chip memecoins like DOGE, SHIB, or even PEPE.
Liquidity
Liquidity has deteriorated sharply from peak levels. MONG trades primarily on Uniswap with reduced pool depth, and CEX listings are limited to minor exchanges. Daily trading volume is a fraction of its peak — often under $1 million and sometimes significantly less. The token's large holder concentration means large sells can cause significant price impact.
The Ethereum gas costs further reduce the economic viability of small trades, as gas fees can exceed the value of typical transactions for a micro-cap token.
On-Chain Metrics
On-chain activity reflects the post-hype decline. Active addresses have decreased substantially from the April-May 2023 peak. Transfer counts are minimal. Holder count stabilized at a lower level, with most activity being passive holding rather than active trading or usage.
The token distribution shows concentration among larger wallets, a pattern common in memecoins where early entrants and influencers accumulated significant positions during the initial hype phase.
Development
There is effectively no development. MONG is a standard ERC-20 token with no protocol, platform, or utility to develop. The smart contract is immutable after deployment, and there is no team building products on top of the token. Any "development" consists of marketing and community management rather than technical work.
Risk Factors
- Zero utility: No function beyond speculative memecoin trading
- Post-hype decline: Token has lost most of its peak value
- Fading community: Engagement significantly reduced from launch hype
- Thin liquidity: Low trading volume and shallow DEX pools
- Holder concentration: Large wallets can cause significant price impact
- Gas cost burden: Ethereum gas fees disproportionate for micro-cap trades
- Memecoin competition: Thousands of competing memecoins for attention
- No development: No team building utility or products
Conclusion
MongCoin is a product of the April 2023 memecoin frenzy — a meme-first token that rode the PEPE wave to a brief moment of relevance. The tongue-out emoji branding is absurd in the way memecoins should be, and the project never pretended to be more than what it is. However, without the viral momentum that sustained its initial rise, MONG has settled into the vast graveyard of post-hype memecoins. The fading community, thin liquidity, and complete absence of development make any sustained revival unlikely without a new catalyst.