Shiba Inu and Polkadot are currently leading the pack in the altcoin market, boasting market caps of $5.81 billion and $8.97 billion respectively.
In contrast, Meme Moguls, a burgeoning DeFi project, is predicted by analysts to experience a 100x price increase. The question is, can this surge propel Meme Mogul’s market cap beyond those of Shiba Inu and Polkadot? Let’s delve into it.
Shiba Inu (SHIB) Price Outlook by Renowned Analyst
The Coach XD, a crypto analyst, has recently given the Shiba Inu community a reason to be hopeful with his latest price prediction. According to his analysis of Shiba Inu’s monthly chart, he believes the coin is unlikely to see another price drop.
He further stated that SHIB, currently the 16th largest token by market cap, is poised for a price hike. He suggests that SHIB has reached its lowest point and can’t decline any further. However, he anticipates that the Shiba Inu coin will revert to its opening price from the previous month before experiencing an upswing.
Last month, Shiba Inu opened at approximately $0.00000829. It could see a 12% decrease from its current price of $0.00000943 before starting its upward trajectory.
Increase in Polkadot (DOT) Staking
In the second week of January 2024, Polkadot (DOT) saw a rise in staking. Tony, a well-known crypto expert, highlighted the increase in Polkadot tokens locked in staking on Twitter.
Over 719.81 million DOT have been staked, yielding a 14.8% reward rate. With roughly 107k in staking wallets, the staking market cap exceeds $4.8 billion.
This uptick in staking activity reflects investor confidence in Polkadot’s future. Despite the positive staking rates, the market sentiment towards the Polkadot coin remains largely negative.
As per CoinMarketCap, the Polkadot coin is currently trading in the $7 range, down from a 7-day high of $8.55.
Meme Moguls (MGLS) Anticipating 100x Price Surge
As Meme Moguls’ presale continues to gain momentum, analysts are predicting a 100x price increase. This prediction would see Meme Moguls’ price jump from its current $0.0027 to $0.27.
Considering Meme Moguls’ total coin supply of 3 billion, this would equate to a market cap of $810,000,000. While this falls short of the market caps of Shiba Inu and Polkadot, it represents a significant return for investors who participated in the cryptocurrency ICO.
Meme Moguls: More Than Just a Meme Coin
Meme Moguls (MGLS) is a meme coin and play-to-earn token with tangible value that aims to revolutionize the DeFi sector. It transcends the typical meme coin hype, offering investors an opportunity to earn through gaming. Its gaming platform also serves as an educational resource for investment and wealth growth.
Players begin with a virtual $100,000, allowing them to practice and hone their investment skills. What’s more, profits earned from in-game challenges can be converted into real money. And yes, the coins can be withdrawn.
Moreover, the cryptocurrency ICO introduces a unique rule to promote diverse investment strategies among participants. It restricts them from allocating more than 20% of their virtual funds to a single investment.
This rule encourages players to adopt a more balanced investment approach in the game. The current price of the Meme Moguls DeFi coin is $0.0027, with a potential 100x increase on the horizon.
While Meme Moguls’ market cap may not yet rival those of Shiba Inu and Polkadot, the token holds considerable potential. Its status as a meme coin and gaming token makes it a noteworthy contender.
Forecasts suggest that the Play-to-Earn NFT Games Market could reach a value of USD 3618.4 million by 2028. This presents a significant opportunity, and the DeFi project could leverage this trend to achieve even greater success.
Learn more about the $MGLS here:
