Going to the moon has always been associated with new frontiers and breakthroughs. So, it comes as no surprise that this powerful symbol has found its reflection in the crypto space – read ahead to figure out what it means in the blockchain industry context.
What Does“To The Moon” Mean?
The slang phrase “to the moon” is used to express a strong conviction that the price of a cryptocurrency will experience a dramatic increase in the near future.
It is also common for the members of the crypto community to use the term “mooning” when an asset is pursuing a significant upward market trend.
What You Need To Know About “Going To The Moon”
The exact moment when the expression “to the moon” was first used in the crypto context is unknown. However, many agree that it became widespread during Bitcoin’s bull run in 2017 when the cryptocurrency’s value skyrocketed from $1,000 to nearly $20,000.
Another famous example when the modern “going to the moon” definition was applicable is Ethereum’s price spike between January and October 2021, when the crypto’s value rose from less than $1,000 to approximately $5,000.
However, the phrase really gained popularity in the past few years on Twitter in connection to Dogecoin, a meme coin actively supported by Elon Musk. The Tesla CEO keeps boosting the interest in Doge and causing surges in its price, such as when he said “Doge to the moon” in his 2022 Twitter Spaces appearance.
The spread of the expression became even more rapid when Elon Musk announced that he would literally be sending the meme coin to the moon with DOGE-1, a 40 kg cube satellite flying as a payload on a Falcon 9 rocket.
The space mission with a launch date set for March 2, 2023, is funded entirely by Dogecoin. This event means a lot to the crypto community and is sure to solidify the position of the moon as a symbolic benchmark in the blockchain industry.
