The only thing this coin has going is that Monacoin is sort of a Japanese Dogecoin niche currency. It has a ton of merchant adoption in japan, as a matter of fact there are shops that you can find shops with a pretty decent amount of gear. They even managed to get ATM Monacoin machines in Tokyo, but apparently the service is stopped for now:
https://corp.zaif.jp/info/5999/Unfortunately it's in japanese so you will need to translate it.
I think this coin can thrive long term. Never underestimate the power of meme-coins.