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Even if a few well-known meme coins made news in 2023, Dogecoin and Shiba Inu still command the majority of the meme coin market.
By market capitalization, Dogecoin is still the biggest meme-based project, while the fastest-growing meme coin ecosystem is found in Shiba Inu.
Meme Moguls, however, is a formidable new rival for these ventures. A fascinating new P2E altcoin called Meme Moguls is garnering a lot of interest after generating over $2 million in its presale.
Dogecoin’s value has dramatically decreased since 2023, when it reached an annual high of $0.1.
Dogecoin saw a sharp decline when the cryptocurrency bull market cooled off, and it is currently trading at $0.07917.
The top meme coin has had a weekly decrease of 1.28% and a 24 hour decline in daily trading volume of 34%.
Given that over the past year, Dogecoin has continuously lagged behind other initiatives, the meme coin is currently reaching a breaking point.
Dogecoin’s survival as the biggest meme coin in the world depends on its reputation, even as rivals like Shiba Inu develop their ecosystem.
Since Dogecoin is gradually losing traction, it will require more than just market buzz and celebrity endorsements to survive.
There have been recent reports indicating that Dogecoin would be accepted as payment on X in 2024, although no formal announcement has been made.
Since its 2023 release, the shibarium has prospered. The Layer-2 infrastructure has processed over 304 million transactions in a matter of months, drawing in 1.3 million unique wallet addresses.
These numbers have greatly exceeded earlier projections, indicating that a price spike for Shiba Inus may be imminent later this year.
Nevertheless, January was not a good month for Shiba Inu. Its value has decreased by 14.5 percent, and less than $100 million is traded there every day.
Read More: Bitcoin Price Surges Above $43K, Aims for 15% Gain in Ongoing Recovery
These numbers represent a significant setback for Shiba Inu and suggest that investors are dissatisfied with the project’s slow rate of return on investment.
An intriguing new altcoin called Meme Moguls has the potential to upend the meme coin industry.
Meme Moguls employs meme trends as a component of its cutting-edge new platform, although not being a meme coin per se.
The initiative presents the first virtual meme stock market in history, allowing investors to exchange meme assets, create virtual portfolios, and compete for large awards.
Its environment will include a number of exclusive gaming opportunities. In competitions, winner-take-all events, and games such as “Beat the Market,” players will have the opportunity to construct a portfolio that seeks to outperform the most profitable global funds.
This new method of investing is already shown to be very successful. Meme Moguls swiftly sold out during its four presale stages, having already raised over $2 million. Meme Moguls’ momentum is presently rapidly gaining traction in stage five.
The current price of $MGLS, the project’s governance token, is $0.0036. Experts predict that it may reach $0.19 in a year, which has drawn the attention of numerous prominent analysts to $MGLS.
In addition to potentially earning large profits, investors who participate in the Meme Moguls presale now have the chance to win many prizes, which are given away at the end of each presale session.
Disclaimer: The information provided is for educational and informational purposes only. It does not constitute financial advice, and you should always conduct your research or consult with a professional before making any investment decisions.
