Dogecoin (DOGE) surged by more than 100x in the last bull run to become the memecoin king. However, it is facing tough competition from a new player in town — Meme Moguls (MGLS). This new memecoin has more utility than Dogecoin, and it is quickly gaining popularity during the presale event. The big question on everyone’s mind: just how high can Meme Moguls go? Let’s try to find out.
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Dogecoin (DOGE) Future Utility In 2024
Dogecoin (DOGE) is THE original memecoin that started this whole craze in the cryptocurrency world. It was created as nothing more than a bit of fun, with a Shiba Inu dog as its mascot and the iconic phrase “much wow” associated with it.
Although it initially struggled to gain traction and was often ridiculed by more serious investors, Dogecoin has surged in the last two bull runs. 2021 saw it reach a market cap of over $80 billion as Elon Musk “shilled” it on Twitter, and it gained mainstream attention. But what does the future hold for Dogecoin and its utility in the next few years?
It is clear that Dogecoin’s current value is purely speculative and has no real utility beyond being a memecoin. There is nothing inherently wrong with this, as community spirit is a big part of cryptocurrency, and the fun aspect attracts many investors.
However, Elon Musk has played a huge part in pumping the price with his tweets. What if he suddenly decides to stop promoting Dogecoin or shifts his focus to another memecoin? This could cause a significant drop in value, and without any real use cases, it may struggle to recover.
The other side of this argument would say that Elon Musk is the most powerful man in the world, and he may choose to adopt Dogecoin as a form of payment for his companies, such as Tesla or SpaceX. This would instantly give it real-world utility and potentially skyrocket its value.
Will Dogecoin (DOGE) Pump In 2024?
The price of Dogecoin has dropped 87% from its all-time high, now sitting at just $0.073 due to a bear market that caused retail traders to lose interest. All is not lost for holders as the climb from $0.057 in the last six weeks shows a partial recovery.
The question now is whether Dogecoin will experience another bull run similar to the one we saw in 2021. The answer largely depends on whether Musk continues to support the memecoin and if it can establish any real-world utility.
The chart highlights that the $0.10 area is the next key resistance level that needs to be broken before a bigger run can begin. However, analysts note that Dogecoin may fail to return to the all-time high of $0.73 as there are newer memecoins with more utility that are gaining traction.
Meme Moguls stands out as the most promising memecoin in terms of utility. It offers a virtual trading platform, staking opportunities, game rewards, and even governance participation through its MGLS token.
Meme Moguls (MGLS): A New Era Memecoin with Real Utility and Rewards
Meme Moguls reinvents the financial education concept with its play-to-earn (P2E) structure that rewards players with MGLS tokens for learning about trading, staking, and investing.
In this virtual investment world, players kick off with a $100,000 virtual budget to craft and oversee their portfolios, gaining knowledge from seasoned traders, honing effective strategies, and aiming for the pinnacle of the Wealth Leaderboard.
<blockquote class=”twitter-tweet”><p lang=”en” dir=”ltr”>MOGULS!! 🔥<br><br>Are you ready to change the landscape? 🧑🌾 With one of the biggest airdrops of 2024 👀 Get ready!! <a href=”https://twitter.com/search?q=%24MGLS&src=ctag&ref_src=twsrc%5Etfw”>$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>
The platform encourages social interaction and friendly competition. Users can dive into various contests or even organize private leagues, pitting their investment skills against peers, friends, or family. A standout feature, “Beat the Market,” challenges players to surpass the performance of major indexes like the S&P 500.
Central to Meme Moguls’ vast array of features is the MGLS token. This multifunctional token serves as the cornerstone for in-game purchases, and it’s a motivational tool for players to stay engaged and deepen their investment knowledge. Holding MGLS also includes staking rewards, governance participation, and access to special platform features.
The presale event, currently in its initial stage, offers MGLS tokens at a compelling price of $0.0021 before it rises in subsequent stages. Early buyers also benefit from a 30% bonus on their purchases, so it’s the perfect time to join the Meme Moguls community and grab some MGLS tokens.
So how high can Meme Moguls go? Analysts note that MGLS has a market cap of $6.3m, a fraction of the total memecoin market cap of $24b today. Therefore, 100x growth is feasible as the project gains traction and launches on major exchanges.