The hōng reading is the noise-of-a-crowd word — onomatopoeic, paints a soundscape. Key collocations:
哄堂大笑 (whole room roars with laughter),
哄笑 (hoots of laughter),
哄抬 (to inflate prices artificially via mass behavior),
哄抢 (panic-buying / looting). The
一哄+verb pattern (
一哄而上,
一哄而散,
一哄而起) describes a crowd surging into or out of action all at once.