What Does "To the Moon" Mean in Cryptocurrency?

Why "to the moon" caught on with cryptocurrency

The biggest appeal of investing in cryptocurrency is its growth potential. Quite a few cryptocurrencies have risen in value by more than 10,000%, and some by more than 1,000,000%, in just a few years. More than any other asset class, cryptocurrency really can go "to the moon" and deliver incredible returns to investors who buy at the right time.

However, cryptocurrency is a speculative investment and one where popularity plays a large role in a project's success. Many meme coins have exploded in value despite having no legitimate use.

Saying that a cryptocurrency is going to the moon is a way of hyping it up. It serves as a rallying cry for supporters of that crypto, and it can attract new buyers, which helps increase the price.

Don't get swept up in the hype

Take any comments that a crypto is going to the moon with a healthy dose of skepticism. People have said this about hundreds, if not thousands, of cryptocurrencies, and only a small portion of them became profitable investments.

It's a good sign when a cryptocurrency has built up a strong community of supporters, but that alone doesn't mean it's worth buying. Before investing, follow another popular piece of crypto slang: DYOR, which stands for "do your own research." Read about the cryptocurrency's uses, the services it offers, the problems it aims to solve, and the team behind it. This is a much better way of evaluating potential crypto investments than following social media hype.

Keep in mind that cryptocurrencies are high-risk investments. Even when you do your homework, there's no guarantee of success. A seemingly solid crypto project may go nowhere while a silly meme coin takes off. Because of the volatile nature of cryptocurrency, it shouldn't be a large portion of your investment portfolio. As a rule of thumb, invest no more than 5% to 10% of your money in crypto, and only put in as much as you'd be comfortable losing.