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A joke made by a US congressman during a hearing leads to the rise of a new “Mongoose Coin”.

The “Mongoose Coin” was produced in response to iconic remarks. Brad Sherman, a California Democrat, is a member of the US House of Representatives.

US Democratic Representative Brad Sherman of California has been an inspiration for inventors of digital tokens after criticising the coin-eat-coin world of digital assets during a Congressional hearing a few days ago. His statements were enough to motivate cryptocurrency enthusiasts to start working on a new coin. He made a joke about a cryptocurrency called “Mongoose Coin,” which does not exist. However, it was undoubtedly created as a result of his joke. He asked, using the hypothetical coin as a metaphor, what MongooseCoin could do to CryptoCoin. The mongoose’s ferocious appetite for rodents and snakes is well-known.

He claimed that Ethereum may replace Bitcoin, which could then be replaced by Dogecoin, Hamster Coin, Cobra Coin, and other altcoins. The cryptocurrency community reacted quickly to the California Democrat’s comments on meme coins, and several tokens based on the bogus Mongoose Coin were created overnight. Mongoose (CRYPTO: MONG) has a total market capitalization of $14.75 million at the time of writing, with about 6,900 holders. The average daily trade volume is more than $6 million.

Mongoose Coin’s website claims that it is the “first ever meme coin designated by a US senator.” “Brad Sherman, a member of the House of Representatives, invented the first ever Government-approved meme coin,” the article continues. “Named by Congress,” it says in its Twitter bio. The Mongress is the creator of this piece. The official Mongoose Coin has gone viral.”

“Mongress > Congress,” stated another tweet from the Twitter account.

A Twitter handle mocked Sherman’s remarks about cryptocurrencies being a threat to one another, saying, “A future where we can live together is feasible,” and adding, “2022 will be the year of Hamstercoin and we will see what happens when the power of the community and project combines.”

In a Medium article, a Mongoose Coin spokesman described the coin’s plan as “a movement that captures the community’s struggle against regulators, for freedom, and for a common objective.”

Goose, Son of Mongoose, and Baby Mongoose are just a few of the Mongoose Coin spinoffs that were out soon after.

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