Memecoins are set to bark back in 2024, and three of the top contenders are Shiba Inu (SHIB), Dogecoin (DOGE) and Meme Moguls (MGLS). While the former two have been around for some time, Meme Moguls is debuting during a presale event of discounted tokens. Let’s compare the three to see why they are top picks for 2024.
Meme Moguls (MGLS): Blending Memes with Financial Trading
Meme Moguls (MGLS) is quickly gaining momentum as a standout presale opportunity. Poised to establish the world’s first meme-backed stock exchange, the arrival of Meme Moguls sees memes become assets that can be traded and invested in like stocks.
It’s a space where the latest viral sensation isn’t just a source of entertainment but also a potential investment opportunity. Users of Meme Moguls can track the popularity and market trends of various memes, making informed decisions to buy, hold, or sell, similar to stock market operations.
Meme Moguls encourages interaction, discussion, and sharing of ideas, making it a breeding ground for meme enthusiasts and traders to connect. Meme Moguls also fosters friendly competition with the Wealth Leaderboard to showcase the best traders and reward them with unique NFTs and tokens.
For those interested in generating passive income, Meme Moguls offers an attractive staking option with its native MGLS token. The more tokens you stake, the greater your potential earnings. MGLS is priced at just $0.0021 during the first round of the presale before increasing in the next rounds.
Experts in the field predict an impressive 100x rally for MGLS from this price point to when it goes mainstream on Uniswap. This prediction indicates a promising opportunity for early investors to benefit from substantial growth if they buy in now.
Dogecoin (DOGE): The Influence of Elon Musk
Dogecoin (DOGE) took the crypto industry by storm in early 2021 as Elon Musk — the world’s richest man — publicly endorsed the meme-based cryptocurrency. His tweets advocating for DOGE’s widespread adoption caused the price to surge by more than 16,000% from the January 1st price to a market cap of more than $80 billion.
The bear market of late 2021 and 2022 saw Dogecoin’s value dip significantly, but the memecoin is bouncing back with renewed vigor in Q4 2023. From $0.05740 in late October to a current price of $0.08491, Dogecoin is showing why it is still the number one memecoin in the world.
As we look to 2024, Dogecoin remains a top pick for its community, strong branding, and celebrity endorsements from Elon Musk. The fact that the world’s richest man still has the Dogecoin logo in his X bio will keep pushing the coin’s narrative, which will continue to drive its value.
There’s also Dogecoin’s DOGE-1 Mission, where a rocket will take Dogecoin to the literal moon on December 23rd, 2024. Such a publicity stunt will undoubtedly attract more investors and could take the price of Dogecoin above the $0.10 – $0.11 resistance area.
Shiba Inu (SHIB): Developing a Decentralized Finance Ecosystem
The Shiba Inu team saw the potential of Dogecoin and created its memecoin in 2020. The goal was to surpass Dogecoin as the number one memecoin in the world, and the 100x gains for SHIB holders in 2021 are a testament to the success of their plan. However, Shiba Inu wants to do more than be a meme.
In 2022, ShibaSwap was launched, allowing users to swap their SHIB tokens and farm Bone token rewards. This move signaled Shiba Inu’s plans to become a major player in the decentralized finance (DeFi) space.
The latest release is the Shibarium layer-2 blockchain, offering fast and inexpensive transactions for the Shiba Inu ecosystem. The impressive 5 million daily transactions on Shibarium show that network usage is already high and will continue to grow in 2024.
The Shiba Inu chart shows a significant descending trendline that has kept the price down since August 2022. But with Shiba Inu starting to break out of this trendline, we could see a powerful move towards the $0.000020 resistance area in the following months.