Ethereum meme coin Mog Coin (MOG) has climbed 4% today, reaching a new all-time high of $0.00000245. The token was even briefly in the top 100 coins on CoinGecko, but has since dropped out.
MOG was created almost exactly a year ago, on July 19, 2023, and shares its name with a term that’s been popular on English-language message board site 4chan.
To ‘mog’ someone is to display your dominance over another person. This can come in many forms such as heightmogging (to be taller than someone), fashionmogging (being more stylish than the moggee), or a brutal mogging (dominating someone in multiple categories).
So in many ways, the crypto token has been “mogging” its meme coin rivals since its inception. Over the past three months, MOG has skyrocketed 301% and has now reached a market cap of $820 million according to CoinGecko.
This puts MOG ahead of tokens like layer-1 blockchain Tezos (XTZ), gaming network Ronin (RON), and metaverse game The Sandbox (SAND). That also makes Mog Coin the ninth largest meme coin by market capitalization, according to CoinGecko.
We’ve been mogging the TL for a year 🫵😹
Here’s to 100 more 🥂 pic.twitter.com/gOVaVDlx7y
— MOG COIN (@MogCoinEth) July 19, 2024
At the time of writing, MOG is $5 million behind Etheruem-inspired network NEO. If it can close that gap, it stands a chance of breaking back into the top 100 crypto tokens.
When Mog Coin reached its all-time high market cap of $880 million, it had skipped past NEO which was at $850 million. But it has since lost its lead and both tokens have fallen. Currently, NEO sits at a market cap of $825 million.
Mog Coin evolved on the 4chan meme to be associated with a character, Joycat. Joycat has since become the token’s symbol. A laughing cat donning pit viper glasses, pointing at the screen soon became synonymous with the coin. Now, investors mimic Joychat through a combination of emojis or choose to don pit vipers in real life.
“This was the kind of mutation necessary to propagate the meme into hyper communication and now here we are,” a pseudonymous early MOG investor said on Twitter. “It has actually been quite a treat to watch it all unfold in real time. How a meme can merely go from a verb that describes dominance that the brain has to search for within an image/context, to something that is instantly recognizable.”
Edited by Stacy Elliott.
