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A mnemonic phrase (also known as mnemonic seed, or seed phrase) is a list of words used in sequence to access or restore your cryptocurrency assets. It should be kept secret from everyone else. It is a standard in most HD wallets.
"Moon" or "To the moon" is a crypto slang that describes an exclamation when the cryptocurrencies prices are rising and when it hit the peak, the coin is said to be "mooning".