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To dunk ones scrotum into the open mouth of another person while facing away from them. Reverse Teabag.
Victoria loves to be moonbagged as it gives her plenty of access to the buttclit.
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Something that is a great distance away, as a bag on the moon is from any point on Earth.
John's farm in rural Virginia is a moonbag down 66 from Washington, D.C.
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A term used in the cryptocurrency community to denote small investments in various cryptocurrencies ("bags") which the investor hopes will rise exponentially in value ("to the moon")
Of course, I invest in $BTC, but I do have a couple dozen memecoin moonbags.