What is Wen Moon?
If you’re a bitcoin or cryptocurrency holder, you may have heard the term “wen moon” thrown around lately. But what does it mean? And is it important? In this article, we’ll explain what “wen moon” is, and why it’s so popular in the cryptocurrency space.
What Does ‘Wen Moon’ Mean?
Before we break down the term “wen moon”, let’s take a look at the concept of “mooning” and “going to the moon”. Among cryptocurrency enthusiasts, the phrase “to the moon” is an expression of excitement that is used when cryptocurrency prices make a sharp upturn.
With all that in mind, crypto enthusiasts may say “wen moon” as a shorthand for “When are we going to the moon?” In other words, “wen moon” is a question crypto and Bitcoin fans ask when they want to know when the best time to sell their digital currencies is before prices make a downturn.
Where Did ‘Wen Moon’ Come From?
For the unfamiliar, the term “mooning” may conjure up images of kids turning their backs and pulling their pants down to prank unsuspecting victims. But in the crypto and Bitcoin community, mooning has a completely different meaning.
In a nutshell, “mooning” describes a coin that is reaching its peak or going “to the moon”. It became popular in the early days of Bitcoin, when the cryptocurrency was just starting to gain traction and value. In 2017, the price of Bitcoin skyrocketed, starting below $1,000 and hitting nearly $20,000 that same year – going to the moon, so to speak.
But why is the term so popular in the crypto community? The cryptocurrency market is incredibly volatile, with crypto prices rising and falling in a matter of days.
As such, crypto holders and investors keep a watchful eye on the crypto market, as one would do with the stock market. Any minor uptick or downturn is enough to send communities in a tailspin, and so these code words and catchphrases help those invested in certain coins to communicate more effectively.
Not Everyone Loves ‘Mooning’
Some early investors are wary of the term’s popularity as it has been and continues to be used by some people to bump up the prices of their own crypto assets for their own interests.
Bitcoin prices and other crypto values increase depending on the basic economic principle of supply and demand. When more people buy into a cryptocurrency, the higher the price holders can ask for on exchanges.
The ideal outcome for people invested in a lesser-known or alternative cryptocurrency is to have more people excited about their coin. Thus, a group may spread information about a coin that’s “headed to the moon” to create more buzz around it.
If you’re familiar with the term “wen lambo” – the phrase cryptocurrency investors often ask when they’re excited about the rising price of their currency or crypto assets – then you’ll know exactly what people mean when they say “wen moon”. Essentially, these two terms are a way of expressing excitement about the possibility of getting rich off of one’s investments.
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