2024 began bullish for several cryptocurrencies while others remained in the red. One such token that started the year with a bang is the DeFi coin, Meme Moguls.
Its price soared to $0.0027 as it entered the fourth stage of its presale. On the other hand, key memecoins like Dogecoin, Shiba Inu, Pepe, and Bonk are battling bearish pressure. Their price movements have been majorly stagnant.
Meme Moguls (MGLS) Presale Skyrockets in January 2024
January 2024 started well for the meme coin and gaming token, Meme Moguls (MGLS). The DeFi project has sold out stage 3 and is now at stage 4 of its presale. Meme Moguls is preparing to build an innovative P2E ecosystem on the Ethereum blockchain! The goal of this game is for participants to become meme moguls-in-training.
They get to study the trade from seasoned professionals, fine-tune their trading tactics, and compete. To begin, participants are given a virtual stack of $100,000 to trade with. Players can use this money to develop investment portfolios and complete challenges to obtain tangible rewards.
There is even a Wealth Leaderboard that keeps track of the top performers for some healthy competition. But the goodies do not stop there. Meme Moguls also has a virtual place known as “Moguls World.”
Players can mine tokens, participate in liquidity pools, and stake their tokens for possible gains here. It’s an immersive playground that contributes to the overall Meme Moguls experience. Let us now discuss MGLS. This altcoin serves three functions. First, it serves as your in-game currency. It is ideal for purchasing and selling assets.
Second, it’s a governance token, providing players a say in ecosystem decision-making processes. Third, it facilitates staking and compensates stakers when they stake their tokens. The value of Meme Moguls’ MGLS is currently $0.0027. Experts predict a 50x price gain for the altcoin in 2024.
Key Meme Coins Show Poor Price Movement
The memecoin market has shown poor price movement over the past few days. Top meme coins like Dogecoin and Shiba Inu are struggling to remain afloat in January 2024 as they lose their gains.
Dogecoin (DOGE)
As of December 2023, Dogecoin’s price soared to a one-month peak of $0.1058, riding on the news of spot Bitcoin ETF. Unfortunately, the memecoin has lost its gains in January.
It is consolidating between a 7-day low of $0.07607 and a high of $0.09437. According to CoinMarketCap, Dogecoin has dropped 11.1% and 18.5% on the weekly and monthly timeframes.
Shiba Inu (SHIB)
The case is not so different for the Shiba Inu coin. Despite the increased whale activity and token burn, Shiba Inu is showing losses on the weekly and monthly charts.
The coin is trading between $0.000008692 and $0.00001091. Nevertheless, the Shiba Inu community is looking forward to the automatic token burn. This would reduce the supply of the token and could increase the price of the DeFi coin.
Bonk (BONK)
Bonk (BONK), the Solana-based meme coin that has recently taken the crypto market by surprise, has also been hit. It is consolidating between $0.000009725 and $0.00001498.
On the weekly and monthly charts, the price of Bonk has decreased. Nevertheless, according to market capitalization, it is among the top 100 cryptocurrencies. With a $705 million market capitalization, Bonk ranks as the 88th largest coin on CoinMarketCap.
In Conclusion
Meme Moguls is driving the pace while popular memecoins like Dogecoin, Shiba Inu, Pepe, and Bonk are settling into a small price range. In the past, the DeFi project has sold over 890 million tokens, and it will keep selling more.
Experts forecast a 50% increase in price in the upcoming weeks. So, before the next price increase, jump on the project while you can.
For more information about the Meme Moguls (MGLS) presale follow the link below:
Website: https://mememoguls.com/
Twitter: https://twitter.com/meme_moguls
Source: https://blockchainreporter.net/meme-moguls-mgls-presale-gains-traction-in-january-2024-as-key-meme-coins-consolidate/