Disclaimer: The information provided in this article is for educational purposes only and should not be construed as investment advice. Readers are advised to conduct their own research prior to making any investment decisions.
January witnessed a significant retraction in the value of established meme cryptocurrencies, with Shiba Inu (SHIB) and Dogecoin (DOGE) experiencing over a 20% decline. Concurrently, the newcomer Meme Moguls (MGLS) saw an impressive 90% increase during its presale period, hinting at a potential market shake-up.
Despite the Shiba Inu network’s aggressive token burn of over 115 million SHIB, resulting in a 660% surge in burn rate, the price of SHIB has continued to fall. This drop comes in spite of the latest updates and efforts from the development team, leaving SHIB at a relatively stable trading price of $0.000009053.
Rumors of Dogecoin’s potential integration into a notable payment system have sparked a rise in network activity. The creation of new wallets and a significant 86% boost in adoption, along with the release of a popular blockchain game, have contributed to these developments. Nevertheless, DOGE has seen only a minor 0.15% uptick in the last week, with a trading value of $0.07953 and a daily trading volume of $232 million.
As Meme Moguls gears up for its game launch with a sneak peek of game features and modes, the excitement around its presale, which is drawing to a close, continues to build. With phase 1 of the game testing set for March, market experts are anticipating a rally for MGLS in the upcoming months. Currently trading at $0.0036, MGLS is expected to climb to $0.0042 in the final stage of the presale.
Read more: Meme Moguls rallying as BNB and Uniswap retrace
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