Stacks and Chiliz have pumped more than 20% this week as a bull rally takes over the market. However, the question remains — can this upward trend be sustained? As we examine this uncertainty, a new altcoin emerges as a potential hedge. Meme Moguls, currently in its presale phase, is predicted to surge by 100x when it launches. Read on to explore its promising potential and how it could be the strategic move your portfolio needs.
Stacks (STX) Recent Price Surge and Market Ties
Stacks is an innovative project that brings smart contract functionality to the Bitcoin network via Proof of Transfer. The great thing about Stacks is that it’s an open-source project that has contributors from individuals from around the world.
With Bitcoin soaring by more than 140% to a recent peak of $44,800 throughout 2023, Stacks has been on the rise as well. The last eleven months have seen Stacks jump from $0.2050 to a peak of $1.25 on December 7th. Stacks’ price has now corrected to $0.93, and holders wonder if the 2023 gains can be sustained.
Analysts note that Stacks is tied to the Bitcoin market, and the recent pullback in Bitcoin has affected its price. However, with the potential of a Bitcoin ETF coming in January, Stacks could enjoy the same rally as Bitcoin.
Stacks has a fully diluted market cap of $1.7 billion, 74.18% down from the $3.60 billion all-time high in December 2021. Chart technicians note that the most significant resistance is $1.20, so Stacks must break this level to continue its rally toward the $10 level.
Analyzing Chiliz (CHZ)’s Market Performance
Chiliz is a Web3 infrastructure project building a blockchain-powered fan engagement platform for sports and entertainment. The goal of Chiliz is to provide fans with a more immersive experience while helping clubs to create new revenue streams.
The price of Chiliz peaked at $0.89 in April 2021 after rallying more than 4,500% in just four months. Chiliz would then dip to a low of $0.054 in October 2023 before rallying hard in the last few months to a peak of $0.094 this week. Can this recent Chiliz rally be sustained?
The Chiliz chart shows that the $0.10 mark is the clear line in the sand. Chiliz could go on a much bigger rally if it can break and hold above the $0.10 level, opening the door to levels of $0.30 and higher. The nearest support sits at roughly $0.06.
However, Chiliz must improve its fundamentals to maintain this rally long-term. While Chiliz has partnered with a few soccer teams, there is a glaringly low number of sports clubs actively using the platform. What if these teams suddenly choose to stop using the platform? A hedge may be necessary for investors to protect their capital.
Meme Moguls (MGLS): Opportunities for Mining, Staking, and Rewards
Meme Moguls is a P2E game that combines the fun of meme culture with the financial rewards of stock trading. Players can buy, sell, and trade virtual stocks of memes in the game’s marketplace. The goal is to become a meme mogul by making strategic investments, finishing on the Wealth Leaderboard, and cashing real-world profits.
Meme Moguls is also a hub for community and competition. Users can set up investment tournaments with friends, partake in head-to-head battles, and even try to outperform major market indices in the “Beat the Market” mode. These features not only add an element of fun but also sharpen investment skills.
<blockquote class=”twitter-tweet”><p lang=”en” dir=”ltr”>MOGULS!! 🔥<br><br>Are you ready to change the landscape? 🧑🌾 With one of the biggest airdrops of 2024 👀 Get ready!! <a href=”https://twitter.com/search?q=%24MGLS&src=ctag&ref_src=twsrc%5Etfw”>$MGLS</a> Farming. Coming soon… <a href=”https://t.co/9UPUeV5klt”>pic.twitter.com/9UPUeV5klt</a></p>— Meme Moguls (@meme_moguls) <a href=”https://twitter.com/meme_moguls/status/1733077444930703567?ref_src=twsrc%5Etfw”>December 8, 2023</a></blockquote> <script async src=”https://platform.twitter.com/widgets.js” charset=”utf-8″></script>
Adding to its appeal is an in-game marketplace where users can trade items and rare NFT characters. These NFTs aren’t just collectibles; they enhance trading capabilities through upgrades like increased leverage and improved spreads.
Expanding beyond the game is “Moguls World,” a metaverse where users can mine tokens, join liquidity pools, and stake their MGLS tokens. Staking is particularly lucrative as it offers rewards based on the amount and duration of the stake.
While the Meme Moguls platform has yet to launch, MGLS tokens can be bought in the presale for the introductory price of $0.0021. This is a chance to get in on the ground floor of an ecosystem predicted to surge by 100x in the first year of launch.
Analysts get this prediction from the game’s unique value proposition and the low market cap of just $6.3 million. The upside potential is clear, with the memecoin market valued at over $21 billion and growing each week.
For more information about the Meme Moguls (MGLS) presale:
Website: https://mememoguls.com/
Buy presale: https://app.mememoguls.com/sign-up Twitter: https://twitter.com/meme_moguls