Few coins have pumped as hard and fast as Shiba Inu (SHIB) did when it arrived. But the memecoin could have more upside ahead, with a 30% pump in the last month and another zero set to be removed.
This bullish momentum comes amid the Meme Moguls (MGLS) presale launch, which has seen thousands of investors flock to buy MGLS tokens at a heavily discounted price before official trading begins. Let’s examine these two meme-inspired cryptocurrencies and what investors can expect in the coming weeks.
Can Shiba Inu (SHIB) Break Psychological Resistance?
Only some altcoins have seen the meteoric rise that Shiba Inu (SHIB) experienced when it launched in 2021. Riding the coattails of Dogecoin’s success, Shiba Inu saw its value skyrocket over 100x in months as doge-based FOMO swept across the market.
However, after reaching a peak market cap of $41 billion and becoming a top 20 cryptocurrency, Shiba Inu’s price began to cool off. The memecoin shed over 95% of its gains before finding support in the $0.0000060 – $0.0000070 zone.
Since then, Shiba Inu has steadily gained traction and is teasing a break of the $0.000010 resistance level. This could be the start of a new bullish cycle for Shiba Inu, with many investors anticipating the removal of another zero from its price.
While Shiba Inu started as a tongue-in-cheek memecoin, it has quickly evolved into a well-respected project with real-world use cases. Notably, the newly launched Shibairum layer-2 blockchain has seen more than 1 million wallets created already.
In addition, Shiba Inu has created a decentralized exchange to rival the likes of Uniswap and PancakeSwap, further expanding its utility. These fundamental developments and the continued hype surrounding meme-inspired tokens should see Shiba Inu finally surpass the $0.000010 resistance and start a fresh bull run.
Meme Moguls (MGLS) Sparks Investor Frenzy in Presale Launch
The evolution of meme tokens seems to have peaked with the launch of Meme Moguls (MGLS) — a meme-backed stock market on the blockchain. Meme Moguls allows users to trade their favorite memes and earn rewards through MGLS tokens.
This first-of-its-kind project has been met with much excitement from the crypto community. With MGLS tokens available for just $0.0019 during the initial presale stage, investors are already in a frenzy to secure their share of MGLS before it takes off.
The platform is not just a trading hub but a community-centric space where users can connect, share insights, and collaborate on strategies. The goal is to put on your best trading hat and earn your way to the top of the Meme Moguls Wealth Leaderboard.
While the exchange is Meme Moguls’ main product, the team has also announced plans to launch three other products to create a whole ecosystem for meme enthusiasts:
- Meme Moguls Fantasy Trader: Where traders can test and refine their strategies against others in the community.
- Mogul Land: An immersive metaverse experience offering more interactive financial activities like token mining and joining liquidity pools.
These products are fueled by the MGLS token, making it an essential asset for anyone looking to engage in the Meme Moguls ecosystem. MGLS tokens also come with staking rewards and governance rights to provide extra incentives for investors.
As the meme market continues to grow, with Statista’s projections to reach $6.1 billion by 2025, Meme Moguls is strategically positioned to play a significant role in the industry. Analysts foresee the MGLS token growing by 100x once it hits the exchanges.
These gains may seem far-fetched, but stats from thecryptobasic.com show that Shiba Inu has a 1.6M% ROI since its launch three years ago. Meme Moguls holds the same potential, and investors are already taking notice.