The rise of meme tokens has been nothing short of extraordinary, with Dogecoin (DOGE) holding a prominent position as the pioneer of this category. With a potential rise to $0.10 by the end of 2023, Dogecoin is making headlines again.
However, a newcomer, Meme Moguls (MGLS), has recently entered the scene. It has ignited speculation and questioned its potential to rival established giants like DOGE.
Dogecoin (DOGE): The Legacy and the Hype
Dogecoin (DOGE) was initially introduced as a joke but quickly symbolized community-driven enthusiasm. Its remarkable journey from a meme-based cryptocurrency to a widely recognized token with backing from the likes of Elon Musk has captured global attention.
Recently, the Dogecoin price made a breakthrough, surging above the critical resistance level of $0.08 on November 27. This significant ascent is a notable milestone for DOGE, which has encountered persistent hurdles in surpassing this threshold since mid-November.
Dogecoin’s recent bullish run has been backed by several contributing factors. It is required to note that there has been enhanced support from Coinbase and other exchanges, which have announced plans for the introduction of Dogecoin Perpetual Future Contracts. Also, DOGE’s actual journey towards the moon in December has helped it.
However, it now appears that Dogecoin has dropped slightly from $0.08 to $0.078. While it has maintained trading positions above its 21 and 50-day EMAs, a $0.10 price rise may be impossible. Its market cap would need to rise from $11B to $14B in just one month, which is a challenge.
In their Dogecoin price predictions, other experts are more conservative – stating a growth of $0.0880 by the conclusion of 2023.
Meme Moguls (MGLS): The Challenger’s Rise
Enter Meme Moguls (MGLS), a fresh face in the meme token landscape, aiming to carve its niche in this ever-expanding sector. With an innovative meme-backed stock market built on blockchain technology, Meme Moguls has turned heads away from Dogecoin.
Currently, MGLS is in stage one of its presale with a price of just $0.0021. This has attracted eager meme coin enthusiasts keen to secure a piece of this innovative project.
While trading is the focus of Meme Moguls, the team has also placed attention to community-building. For instance, you can connect with other traders and compete against them to climb the Meme Moguls Wealth Leaderboard. Users may also share various insights and new strategies amongst themselves.
The project is expanding with the intention of introducing three more pieces to build an ecosystem for meme lovers. These three new products are Moguls Casino, Meme Moguls Fantasy Trader and Mogul Land, which will allow you to do such things as mining tokens or taking part in liquidity pools.
The backbone of Meme Moguls lies in its native token, fueling every facet of the platform.
MGLS stands out because of its colossal growth potential within the meme coins market, which Statista predicts may grow to $6.1B by 2025. With its groundbreaking platform, Meme Moguls may become a dominant force.
Industry experts anticipate that the MGLS token has the potential to surge 100x before its presale ends. While this might appear ambitious, it’s worth recalling Dogecoin’s astounding 13,919% ROI since its inception in 2013. This optimistic outlook has placed MGLS on the watchlists of many traders, hinting at the possibility of a new icon in the making.
Visit Meme Moguls
The post Can Dogecoin (DOGE) Reach $0.10 Before 2023 Ends? A Bullish Price Prediction for Its Rival – Meme Moguls (MGLS) appeared first on Analytics Insight.
Source: https://www.analyticsinsight.net/can-dogecoin-doge-reach-0-10-before-2023-ends-a-bullish-price-prediction-for-its-rival-meme-moguls-mgls/