Please note that nothing I say should be considered advice. Crypto involves complex risks that you should fully understand before trading.
A Solana meme coin called Moondong came out a few weeks ago. This project is all about the art, which mostly involves a cartoon crescent moon with a prominent penis. The whole thing is so funny that I can't even handle it. I've been spending way too much time in the telegram, laughing at Moondong memes.
In terms of trading, this project involves extreme volatility, wicked risk, and more upside potential than I've seen in a long time. I couldn't initially resist buying some Moondong, at which point the price immediately dropped. So I kept buying, trying to reduce my average buy price for this trade. Now I'm a Moondong whale, which mostly just means that I'm very involved in the community.
The effort behind this token is structured as a voluntary confederation of sovereign individuals. Moondong founders Deep Water and Charlie Seed appear to hold any IP associated with the project. Dev Cyborg Monkey seems to be the creative force behind the website and he's getting some kind of online shop together. Yaroslav is spreading the word on the decentralized web.
Because the project is so small, it's easy for people to accumulate relatively large market shares. Looking at a map of wallets, you can see how some of the bubbles are connected into clusters. This isn't inherently problematic. I personally use multiple wallets for security reasons in some circumstances. But it can suggest that a secret whale is preparing to sell big the minute the price gets high enough.
These wallet clusters change over time. Above you can see one from Jan 18 and below is a snapshot from yesterday, with the largest wallet's stats highlighted.
I'd love to see a more detailed visualization of wallets and the connections between them. I might even write one myself if I have time. But a bigger priority for me has become integrating Moondong with Rstory. The only thing stopping me is the need to get clean scripts to use for connecting a purely client side page with Phantom wallet.
As luck would have it, I got a chance to hang out in person with the founders the other night. We had a blast and they're every bit as fun as you'd expect them to be. I've known Mr Seed since we were kids but we hadn't seen each other for many years before this week. And after reconnecting, I feel confident that the Moondong team is committed to the project and has good intentions.
There's something exhilarating about participating in an anarchist network organizing around humor and absurd art. Culturally, the Moondong itself is like the spot around which a tornado forms. It's an incredible strange attractor that's bringing an eruption of creativity out of everyone caught in its mysterious field of influence. As the community grows, I hope to see even more Moondong inspiration shared in even funnier ways.
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