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Mooning refers to the phenomenon of a cryptocurrency's price rising sharply upward "toward the moon." Mooning often reflects customers' belief in a particular cryptocurrency's probable price action.[1] While the moon may be the most optimistic price forecast, mooning might also connote that the price movement is fake, according to the New York Times.[2]

Mooning found frequent usage during the 2017-18 bitcoin and other cryptocurrency run-up in prices. Mooning was not common used to describe the sharp upward price trajectories if many coins during the 2020-21 price run-up when bitcoin reached almost $64,000.