The social media giant Reddit’s r/cryptocurrency community witnessed a significant surge in the price of MOON coin, jumping nearly 160% in a single day. This surge followed an update by the admins, who announced the burning of the coin’s contract and 34% of its supply, paving the way for full decentralization.
Rapid Price Increase and Recent Performance
On Tuesday morning, the r/CryptoCurrency Moons (MOON) coin experienced a remarkable 156.9% increase in just 24 hours, reaching a trading value of $0.138476. Although it experienced a slight decline of 18.6% from its peak during the rally at $0.170233, the coin has demonstrated an impressive 135% appreciation over the course of the past seven days. Over the last month, however, it faced a decrease of 40%, according to CoinGecko.
“Most of this jump in price clearly happened over the last day, as seen in the chart below.”
