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A new player has entered the crypto scene with enticing features and good potential. That player is Meme Moguls (MGLS). The token which is just in the presale stage has surpassed the performance of great giants like Ethereum and Ripple.
Ethereum (ETH) Shows Sell Signal, Says Ali Martinez
Ethereum (ETH) started this week on a bullish note rising above the $2,000 mark as high as $2,128. Unfortunately, Ethereum’s price has dipped to $2,000. Currently, various indicators suggest the likelihood of further declines in the coming days.
Even crypto traders like Ali Martinez share this opinion. According to Ali, Ethereum’s “TD Sequential” indicator is signaling a sell on the three-day Ethereum price chart. This comes as the asset tests a significant resistance range ranging from $2,000 to $2,150.
The analyst pointed at a possible price dump to $1,700. Currently, the price of Ethereum is showing mixed sentiment. It had dropped 2% on the daily chart while holding on to gains of 6.5% and 27.3% on the weekly and monthly Ethereum chart.
Ripple (XRP) Loses Gains After Recent XRP ETF Rumour
Ripple holders’ positive outlook has grown immensely since Ripple’s partial win against the US SEC in July. Ripple’s price increased by over 80% and reached the $0.8 level. Unfortunately, the bearish market led to high selling pressure as Ripple cryptocurrency lost its gains.
The Ripple crypto dropped as low as $0.5 before picking pace during the Uptober market rally. So far, Ripple coin’s November performance has been poor compared to other cryptocurrencies. Per CoinMarketCap, Ripple XRP price has dipped 3.4% to $0.6387.
Both its market cap and trading volume have dropped significantly, due to the recent fake BlackRock XRP ETF Trust filing. Still, Ripple’s technical indicators point towards a price recovery in the coming months to the $0.7 region.
Meme Moguls (MGLS), Bringing New Utility To the Meme Coin Sector
While Ethereum and XRP are losing gains, meme coins continue to take over the crypto space. The meme-based asset industry has gained significant recognition in recent years. According to Statistics, the meme coin sector has a market capitalization of over $17.5 billion.
The interesting part is that these meme coins have little to no utility. In response to this, Meme Moguls has emerged as a solution, as it seeks to launch a meme-backed stock market. The project’s objective is to unite the meme industry to foster a community for meme coin enthusiasts.
Users will gain access to memes-backed assets. The ecosystem will also encompass a wide range of services, all drawing inspiration from memes. A metaverse platform named Mogul Land will be introduced. This will enable meme traders to interact and mine tokens to enhance their returns.
Analysts have predicted significant growth for the MGLS token. Currently, Meme lovers have the opportunity to buy MGLS tokens at just $0.0019. Market experts are optimistic about the project and foresee a 1,000% increase in the coming months. Plus, joining the presale gives you a chance to earn up to $10,000 in giveaways at the end of the presale stage.
