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Avalanche (AVAX) Price Sees Pullback, Is Meme Moguls (MGLS) A Better Path To Growth?

11 months ago
Bitcoin Ethereum News

Avalanche has surged by more than 200% in recent months, but the price is now facing a pullback as holders take profit and look to other investments. Meme Moguls is an upcoming P2E platform that analysts predict will surge by 100x from the current $0.0021 presale price. Is it time to shift focus from Avalanche to Meme Moguls for better growth potential? Let’s look at the details.

>>Buy Meme Moguls Today<<

Meme Moguls (MGLS): Turning Viral Content into Valuable Assets

Memes have become integral to our daily lives, providing entertainment and humor through various social media platforms. But imagine if you could invest in the best memes for financial gain. You can do that with the Meme Moguls (MGLS) P2E game.

Players start with virtual cash to create portfolios in a simulated stock market environment. This offers an interactive way to learn about market trends and trading strategies. It’s an engaging blend of gaming and real-world financial skills development. But the best part is that the rewards are real.

One of the most exciting features of Meme Moguls is its community aspect. Players can compete with friends in trading games, join tournaments with prize pools, or participate in head-to-head challenges. Fun and rewards are guaranteed for all players.

The Meme Moguls platform is powered by its native token, called MGLS. This serves as a utility and governance token for the entire ecosystem. Holders can use their tokens to purchase virtual assets such as memes and NFTs from the marketplace, participate in community governance, and stake their tokens for rewards.

Alongside the gaming rewards, staking rewards, and passive income from becoming a platform mogul, there is a farming program where users can earn MGLS for working on the project. This is a chance for the community to contribute and earn rewards while helping the platform grow. Plus, the team rewards one lucky individual with $10,000 at the end of each presale stage.

MGLS tokens can now be bought for just $0.0021 during the current presale stage. This price represents a fully diluted market cap of just $6.3 million and is scheduled to rise in the next presale stages. Considering the total market cap of memecoins exceeds $21 billion, analysts can foresee the MGLS token increasing by 100x or more in value.

Avalanche (AVAX) Growing TVL and Ecosystem

Avalanche markets itself as a future-proof blockchain and the most developer-friendly layer-1. It uses a unique architecture that consists of multiple blockchains that are interconnected by the Avalanche network. Subnets take scalability a step further by enabling developers to launch their custom blockchains with bespoke rules and configurations. 

This impressive technology has led to an influx of projects building on Avalanche, with the TVL (total value locked) reaching over $874 million today. While this is far away from the $30 billion TVL of Ethereum, it is a great start for a blockchain that launched in 2020.

Avalanche is building a strong gaming ecosystem, with an official Twitter account called @GamingOnAvax that’s been teasing some big gaming news coming soon. Mirai Labs is just one of many game developer teams building on the network, but many others have yet to be announced.

Another area where Avalanche is making big strides is decentralized finance (DeFi), with nearly a billion dollars in locked value. Aave, Trader Joe, GMX, Pangolin, and Benqi are five of the many leading names in DeFi building on Avalanche.

But perhaps the most exciting DeFi development involves JP Morgan, Axelar, and LayerZero. The banking giant JP Morgan is testing how it will adapt to the future of tokenized real-world assets (RWAs), and Avalanche may be their platform of choice. 

Avalanche (AVAX) 2024 Price Prediction

The price of Avalanche has surged from $8.73 on the 20th of October to a peak of $42.78 on the 12th of December 2023. This 390.03% gain has suddenly got holders thinking about taking profits, and the subsequent drop to today’s price of $37.47 shows that many have. 

When making any price prediction, it is important to look at the fully diluted market cap to compare the project to its peers. At today’s price of $37.47, Avalanche has a fully diluted market cap of over $26.9 billion, which makes it the 9th largest cryptocurrency by market cap. 

Analysts note that Avalanche is gaining on Ethereum and may one day reach the $30 billion TVL that the king of DeFi has today. As Ethereum has a market cap of $262 billion, if Avalanche reaches the same market cap, this would result in a token price of $722 per AVAX — a gain of 19.22x. 

Closing above the $40 mark is the first step to show that the price can maintain momentum and growth. So, it seems as though while Avalanche has room to grow should it mimic Ethereum’s current success, Meme Moguls may return better gains. 

For more information about the Meme Moguls (MGLS) presale:

Website: https://mememoguls.com/

Buy presale: https://app.mememoguls.com/sign-up 

Twitter: https://twitter.com/meme_moguls

Source: https://www.analyticsinsight.net/avalanche-avax-price-sees-pullback-is-meme-moguls-mgls-a-better-path-to-growth/