After its recent bull run, investors are selling their Bitcoin holdings as the project begins a correction. This has had a knock on effect to XRP and Dogecoin, both of which have seen a decrease in activity over the last week. With these projects declining in value, investors are switching to a new altcoin that’s gaining traction during its presale. Here’s why it could offer higher returns than XRP, Bitcoin and Dogecoin.
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XRP Peaks At $0.69
After a promising start to Q4, XRP’s growth has slowed dramatically. In early November, XRP hit $0.7, before crashing to $0.58 just two weeks later. Now the project is following a similar trend in December. Over the last week XRP’s value increased to $0.69, though this resistance level is holding the project back. Since its rally, XRP has decreased $0.61.
This decrease has left many XRP holders feeling frustrated, as many experts believed XRP would hit $0.8 by the end of the year. As many holders turn bearish, XRP’s trading activity is expected to fall, which could trigger additional price declines.
Bitcoin Struggles At $44,000 Resistance Level
After a huge bull run Bitcoin has struggled to regain its momentum. The number one cryptocurrency has continued to fall short at $44,000, and the delay of a Bitcoin ETF is expected to cause Bitcoins value to drop.
The announcement of a Bitcoin ETF created significant hype around Bitcoin in early December. Though the SEC have since delayed their decision, and criticized Blackrocks latest Bitcoin ETF application, stating it could lead to market manipulation.
With this in mind, experts believe that Bitcoin could experience a correction before an ETF is announced. Bearish predictions suggest that Bitcoin could drop below $40,000, which has caused some whales to ditch Bitcoin for more lucrative investment opportunities.
Dogecoin Crashes After Hitting An Annual High
After a poor performance in 2023, Dogecoin has finally rallied with a 25% price increase in December. While this created excitement throughout the Dogecoin community, celebrations fell short over the last week, with Dogecoin decreasing in value by 0.87%.
With its momentum declining again, experts believe that Dogecoin will likely face a correction in January. Nonetheless, the Dogecoin community remains confident in the memecoin, and Dogecoin’s daily trading volume has increased by over 100% to $958 million over the last 24 hours.
XRP, Bitcoin And Dogecoin Holders Are Stacking This Altcoin
As the overall cryptocurrency market turns bearish, this exciting new altcoin is looking like a strong alternative. Meme Moguls is currently in the second stage of its presale and is expected to become a big hit. Having already raised over $720,000, experts predict that Meme Moguls will offer 100x returns in 2024, which has created significant hype around the project.
Meme Moguls itself offers a new meme-based stock market. This market will let investors buy, sell and trade memes, compete with other players, and build new networks as part of a vibrant new DeFi community.
MOGULS!! 🔥
Are you ready to change the landscape? 🧑🌾 With one of the biggest airdrops of 2024 👀 Get ready!! $MGLS Farming. Coming soon… pic.twitter.com/9UPUeV5klt
— Meme Moguls (@meme_moguls) December 8, 2023
Players using the Meme Moguls market will have a number of lucrative ways to generate an income. These include competitions, staking opportunities, and passive income from the game’s Wealth Leaderboard.
Stage two of the Meme Moguls presale is quickly selling out, with less than 40% of the round’s tokens still remaining. Once sold, not only will $MGLS token holders benefit from another price increase, but one active community member will win $10,000 as part of the project’s giveaway.
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Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.
Source: https://nulltx.com/whales-ditch-xrp-bitcoin-and-dogecoin-discover-where-theyre-buying-now/