Will Shiba Inu (SHIB) Multi-Year Downtrend Continue? Meme Moguls (MGLS) Presale Hype Skyrockets With Over $250,000 Raised

Shiba Inu (SHIB) emerged as one of the fastest and most explosive coins, boasting rapid and substantial pumps upon its debut. Despite its past performance, this memecoin could potentially have more room for growth, evidenced by an 8% surge in the last month alone.

This surge came as the Meme Moguls (MGLS) presale launched. Let’s dive into the dynamics of these two meme-inspired cryptocurrencies and explore their potential trajectory.

Shiba Inu (SHIB) Aims for $0.00001

Shiba Inu (SHIB) is setting its sights on the $0.00001 mark, marking a significant breakthrough after trading under a multi-year downtrend for 728 days. The coin has seen support at the psychological territory of $0.000008 as it trades at $0.0000083.

This breach of the multi-year downtrend indicates Shiba Inu’s resilience against bearish pressures, signaling a potential shift towards the next bullish phase. The downtrend, which started forming after the Shiba Inu coin retraced its all-time high of $0.00008845 in October 2021, was finally surpassed towards the end of November 2023.

In recent Shiba Inu news, Shibarium has achieved a notable milestone by processing over 5 million transactions, per ShibariumScan. This is a testament to its efficient functionality within the SHIB network. Due to all these reasons, experts are forecasting a price surge in their Shiba Inu price predictions.

Meme Moguls (MGLS) Brings an Interesting Concept

According to CoinCodex, the meme market now has a market cap value of $19.41B after a 24-hour increase of 2.31%. Meme Moguls (MGLS) aims to tap into this flourishing market by bringing something new – a one-of-a-kind meme-driven stock exchange. On this platform, you will be able to trade a variety of meme-based assets while earning rewards.

At the core of this platform will lie the MGLS native token, which is now in Stage 1 of its presale. This presale has already broken a record by completing its Beta stage in just one week while raising 250,000 USDT. Those who bought the token early on are experiencing a 10% ROI as its value increased from $0.0019 to $0.0021.

What distinguishes Meme Moguls is its ability to create a vibrant community-centric space. Not only does it serve as a trading hub for memes, but it also brings a collaborative environment where users can connect and strategize together.

While the exchange is its primary focus, the Meme Moguls team has also announced three other features that will shape the ecosystem:

• Moguls Casino is an interactive gaming platform leveraging meme-based assets for its gameplay experience.
• Meme Moguls Fantasy Trader: a platform where you can connect and compete against other traders.
• Mogul Land is an immersive metaverse that offers a range of financial activities like token mining.

While the MGLS token powers all these features, it will also bring governance and staking rewards. Traders have taken notice, as millions of tokens have been sold already.

There’s also a deposit bonus.

For more information about Meme Moguls (MGLS):

Website: https://mememoguls.com/

Twitter: https://twitter.com/meme_moguls

Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.

Readers are also advised to read CryptoPotato’s full disclaimer.