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As the crypto market matures, newcomers arise to challenge the establishment. While stalwarts Chainlink and Litecoin continue to hold value, explosive growth opportunity lies with an emerging gaming token – Meme Moguls. We analyze the contrasting technical and fundamental outlooks of these three crypto assets, for those seeking outsized returns.
Why is Meme Moguls Generating So Much Hype?
If you’re deep into crypto, keeping up with the news whilst learning to trade successfully can seem a daunting task. Then there are endless Discord and Telegram chats to take into account, and new projects launching all the time.
Meme Moguls (MGLS) is a new project that is still in presale, that brings a fun solution. A fantasy stocks and crypto trading game where players compete against each other for the top spot, learning as they go. As well as getting the highest score, there will be various in game challenges and ways to earn meme based NFTs which will then help people to level up their avatars, giving them an advantage in the trading wars.
Since community engagement is encouraged and rewarded in different ways, with top scorers, ‘Moguls’ able to monetize their success by sharing their trading strategies and hot picks, the community seems set to be fun and lively. People will also be able to learn about and participate in things like staking programs and providing liquidity in return for MGLS and NFTs.
Litecoin Lacks Innovation
Litecoin is one of the oldest cryptocurrencies, and shows continued development, with the most recent commit in GitHub showing a code update in January of this year. That said, very little else seems to happen with Litecoin, which means we need to turn to technical analysis to get an idea of the potential price action.
Over the one-day timeframe, Litecoin shows early signs of bullish momentum – the MACD and the asset trading above short-term moving averages indicate an emerging upside. However, the CCI warns of overbought conditions short-term.
However, over the one-week timeframe specifically, the technical picture is more uncertain. While the Awesome Oscillator and MACD suggest building positive momentum, Litecoin struggles to break its 50, 100, and 200-day EMA resistance on the weekly chart. This shows a lack of confirmation of the short-term bounce seen on the daily timeframe.
Overall, while positive momentum appears to be building for Litecoin over the last few daily sessions, the coin needs to break key falling weekly long-term moving averages to technically confirm the bullish reversal is sustainable. Developing bullish RSI divergences over upcoming weekly bars would provide additional confidence in the reversal. Currently, the long-term outlook is very bearish.
Chainlink’s Tech is Impressive
Chainlink couldn’t be more different from Litecoin, as its use-cases continue to develop and increase. Last year’s introduction of Chainlink’s CCIP makes it much easier for developers to do things across chains, from DeFi and tokenization of RWA (Real World Assets) to gaming. Chainlink isn’t going anywhere and is set to continue to be a vital part of Web3 infrastructure.
However, in terms of price action and ROI, Chainlink is very likely to be surpassed by Meme Moguls.
Here’s why:
Meme Moguls is currently in presale. Experts have predicted Meme Moguls will reach $0.19 by the end of 2024. At $0.19 with a supply of three billion tokens, this would equal a FDV (Fully Diluted Value) market cap of $570 million for Meme Moguls. Currently, Meme Moguls has a microscopic market cap of just $10.8 million.
In contrast, while Chainlink has an enormous current market capitalization of over $10 billion, this already massive scale limits its growth potential.
To put some figures around it – if Meme Moguls grows from its current $10.8 million market cap to $570 million based on the $0.19 prediction, it would reach just 5.7% of Chainlink’s current $10 billion market cap. For early presale investors, this still represents an incredible 52x return from the current presale valuation.
In summary, Chainlink’s growth is capped by its large size, while Meme Moguls offers exponentially more upside potential for early investors. The presale economics make it straightforward for Meme Moguls to rapidly overtake Chainlink’s ROI.
