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This month has seen the price of Shiba Inu (SHIB) rally by over 50% as the altcoin attempts to keep up with Dogecoin (DOGE)'s success. But a new memecoin, Meme Moguls (MGLS), has also entered the scene and is rising in popularity during a presale event of its token. Let's compare the three coins and see their performance in the current market.
Meme Moguls (MGLS) is setting its sights on emulating the success of prominent meme tokens like Dogecoin and Shiba Inu. But Meme Moguls isn't merely a copycat coin — it's looking to differentiate itself by building the world's first meme-backed stock market.
Here, viral content becomes digitized and tradable, allowing people to invest in the future potential of memes. As the meme industry is expected to grow to $6.1 billion by 2025 (source: Statista), Meme Moguls looks to capitalize on this trend and create a new avenue for investment.
Central to the ethos of Meme Moguls is the idea of community. Unlike traditional stocks, meme trading on this platform is inherently social and interactive. The platform encourages its users to discuss trends, share insights, and contribute to the evolution of meme culture.
Furthermore, the Meme Moguls team is committed to rewarding active and engaged community members throughout the presale. One notable initiative is a $10,000 giveaway to a lucky user at the end of each presale phase. Will it be you?
The MGLS token is an important part of the Meme Moguls ecosystem. It will be used for governance, staking, and as a medium of exchange on the meme stock market platform. Early presale participants can buy it for just $0.0021 in the first stage, with 30% deposit bonuses running for a limited time.
Market analysts believe the current low price and potential of Meme Moguls will create millionaires in this bull run. Early predictions indicate a potential 100x return on investment when MGLS arrives on Uniswap and other mainstream exchanges.
Shiba Inu is rallying again after a tough few years of bearish sentiment. The price of Shiba Inu surged by more than 100x in 2021 after gaining recognition for being the Dogecoin killer. However, the subsequent market crash saw its value crash by over 98% to a low of $0.00000545 in 2023.
The price of Shiba Inu now sits at $0.00000852 after the token's value skyrocketed by more than 45% in the past month. The recent surge is attributed to a 50% increase in transactions on Shibarium, the layer-2 solution for the Shiba Inu blockchain.
Technical analysis of the Shiba Inu chart highlights a descending trendline that has been in place since May 2022. A breakout would likely see an instant test of the $0.000010 resistance, and given this trendline has been in place for over a year, Shiba Inu would likely fly straight to $0.000020.
While it is unlikely that Shiba Inu will keep up with Meme Moguls' anticipated 100x gains, the fact that Shiba Inu has utility and strong community backing makes it a promising investment for those interested in the world of meme currencies.
Dogecoin (DOGE) was a fork of Litecoin with a Shiba Inu dog as its mascot. It was created in 2013 as a joke by software engineers Billy Markus and Jackson Palmer. However, it quickly gained popularity due to its catchy branding and the supportive community surrounding it.
While Dogecoin experienced a respectable pump of more than 20x in 2018, the 100x pump in 2021 made it a household name. This latest surge was largely fueled by celebrity endorsements from Elon Musk and Mark Cuban, with the former changing his Twitter (now X) profile picture to the iconic Shiba Inu.
Fast forward to today, and Dogecoin is trading at $0.085 after a 46% rally over the last six weeks. There's no denying that the potential of a Bitcoin ETF is dragging attention towards crypto markets, and Dogecoin is one of the top beneficiaries. But there's other news contributing to this pump…
Elon Musk's 'Doge-1' Moon Mission will see a rocket fly to the Moon and place a physical Dogecoin on its surface in December 2023. This event is due to attract significant news and could see Dogecoin pump further.
Website: https://mememoguls.com/
Buy presale: https://app.mememoguls.com/sign-up
Twitter: https://twitter.com/meme_moguls
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
