But you understood what they meant, right?

Plus it's shorter than saying "skyrocketed to an irrational extent, similar to what happened in the crypto market craze" and hence more expressive. Now, you might not agree that it quite did that to the same level as dogecoin, but that's a different matter than whether or not "mooned" is a good choice of words here. Personally I think hyperbole is useful and fun sometimes.