What is MOG: the culture coin captivating Gen Z

As crypto's unstoppable evolution continues, memecoins have emerged as a unique phenomena, thriving on the viral power of internet culture. These digital assets, inspired by pop culture references and quirky online trends, are more than just tokens — they reflect the internet’s collective creativity and humor. Enter MOG, the first “culture coin” making waves throughout the cryptosphere.

Read on to learn more about MOG, the culture coin concept, and what the token means for crypto.

What is a culture coin?

A culture coin is a type of cryptocurrency that derives its value not just from its technological advancements but also from its cultural significance. These coins are deeply embedded in internet memes, trends, and subcultures, making them a unique asset class that thrives on attention, community engagement, and viral content. MOG, with its roots in Gen Z memes and internet culture, is a prime example of this phenomenon.

The meme magic of MOG: mewing, Joycat, and Pit Vipers

There are several iconographies central to MOG's viral brand, each with its own history and memetic usage that deserves to be explored.

The term “mog,” for example, was popularized by modern-day bodybuilders to refer to outshining another aesthetically. This term is usually used together with a visual representation of the act of “mewing,” which is a non-medical jawline posturing technique. This trend is gaining traction on TikTok videos generally accompanied by “phonk” music.

Another central character in the branding of MOG is the "Joycat" emoji. This fan-created emoji-based character stems from an emoji titled “Cat with Tears of Joy” in the emoji Unicode, otherwise known as 😹. The Joycat is usually used in combination with a pointing emoji to ultimately form 🫵😹 — a combo that's now frequently used to “mog” people on the internet.

However, one of the icons that's become most common in the MOG cult is the adoption of the iconic Pit Viper glasses as part of their Joycat character. These retro sunglasses, known for their bold and flamboyant style, have seemingly replaced “laser eyes” on X as a cultural signifier for influencers involved in the crypto space.

MOG in pop culture

Cultural influence can't be understated in the world of culture coins. MOG has received significant co-signs from well-known personalities like FaZe Banks, CEO of one of gaming’s most notable brands, FaZe Clan. It's also been included in several digital pieces by world-famous artist Beeple, who holds the record for the largest NFT sale at $69M.

But nothing has catapulted the brand’s global image more than a viral video featuring Frankdegods and Malcolmdegods, founder and chief of staff of Delabs, respectively, at a private event for former President Donald Trump. This viral video features Malcolm, sporting the iconic Pit Viper glasses, asking the former President about his official stance regarding the larger crypto industry. This moment marked the start of the former president's public support for Bitcoin, self-custody, and the wider Web3 space. Just 15 days after this video went live, U.S.-based Ethereum ETF products were seemingly approved overnight, a move many ETF analysts originally considered to have a “less than 25% chance” of happening.

Riding the Ethereum wave: ETH beta play

MOG’s success isn't happening in isolation. During mid-2024, the token rose to a market cap of nearly $680 million, recording an almost 200% increase in eight days, following the enhanced performance of Ethereum off the back of U.S.-based ETF approvals. This trend has some traders believing in MOG as a possible opportunity at an ETH beta play. As Ethereum potentially continues to rise with the adoption of popular Layer-2s and the official launch of ETF products, some believe there's an opportunity to use MOG as a way to leverage Ethereum’s robust ecosystem and growing market presence.

Does MOG have any utility?

MOG does have some limited utility within its own ecosystem, but it's important to remember that memecoins have little to no intrinsic value overall. In fact, the project website itself states that MOG "started as a joke among friends." The token is used as a means of making secure transactions within the Mog community. MOG is an ERC-20 token, and can be deployed on the BRC-20 network for bridging from the BTC network to the EVM network.

MOG tokenomics

According to CoinMarketCap data, MOG has a total circulating supply of 360.45 trillion and a market cap of $621.7 million at the time of writing. The token's total supply is capped at 420.69 trillion. MOG also reportedly has a burn mechanism in place to reduce the total supply of tokens and create deflationary conditions, incentivizing token owners to hold their MOG.

Can MOG really mog the industry?

In the volatile world of cryptocurrencies, the future of MOG, like any other memecoin, isn’t certain. Memecoins have been hugely successful in the past few years, with tokens like SHIB, PEPE, and WIF all gaining a lot of coverage. Among this group, MOG has made its way into the conversation.

Its continued success will depend on its community value and the broader adoption of Ethereum. The playful and positive approach embodied by the Joycat emoji and Pit Viper glasses remains a significant draw, but sustaining this momentum will require ongoing content innovation and engagement.

However, their whitepaper echoes the community's guiding principles: “be a winner, win at everything you do.” In a world where it’s mog, or get mogged, do the mogging.

The final word

While the future is unpredictable, the vibrant and dynamic community behind MOG gives it a fighting chance to remain a significant player in the memecoin landscape. As always, it's imperative that potential traders know that speculating on any cryptocurrency comes with its own set of risks, just as with well-known cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). Anyone considering trading is advised to do your own research (DYOR) and tread carefully in the volatile crypto markets.