Microsoft AI has picked two meme coins, Shiba Inu and Meme Moguls as two meme coins for long-term holding. Recently, Shiba Inu's burn rate has skyrocketed by about 50,000% while gamers and meme coin enthusiasts have swarmed to Meme Moguls.
Shiba Inu (SHIB) Burn Rate Skyrockets 50,000%
Shiba Inu (SHIB), the largest meme coin by market cap, has entered the news again with new developments. Based on information released by Shibburn, the Shiba Inu burn rate spiked by 499,416% on November 27.
During that timeframe, over 264.20 million Shiba Inu tokens were burned. A wallet address 0x95ad...3e43 had burned 261.40 million SHIB tokens. The amount of Shiba Inu meme currencies burned thus far has reached 410.66 trillion thanks to this increase.
The higher burn rate of the Shiba Inu cryptocurrency community is a part of their strategy to raise the price of Shiba Inu. A significant price gain has not been sparked by the increasing token burn. Microsoft AI, however, continued to be optimistic about Shiba Inus.
Data from Shiba Inu CoinMarketCap showed that Shiba Inu coin traded at $0.00000845, higher than its 7-day low of $0.00000780. Microsoft AI has forecasted Shiba Inu value to hit $0.00000900 in the coming weeks.
Can Meme Moguls (MGLS) Compete With Shiba Inu
In 2020, as reported by Statista, the worldwide meme industry achieved a valuation of $2.3 billion. A projection suggested that it would attain a value of $6.1 billion by 2025. Meme Moguls (MGLS) had set its sights on benefiting from this industry expansion, intending to surpass Shiba Inu. To achieve this, the project devised a plan to establish the first meme-supported stock exchange.
This exchange would be part of an ecosystem that has promised users a range of other benefits. One major part of the ecosystem is the Moguls Casino. This gaming casino has offered gamers an engaging and enjoyable experience. Users could partake in various games featuring meme-related assets and mogul tokens. Such games have added an element of entertainment to the platform.
Meme Moguls platform has delivered engaging gameplay and tournaments, creating extra opportunities to earn rewards. Additionally, the Moguls Exchange Trading Platform has emerged as another component of this ecosystem. It has facilitated the trading of meme-based assets, offering users a professional to buy and sell these assets.
This allowed users to engage in meme-related financial activities and meet with other meme coin traders. In addition to that, Meme Moguls has offered a range of trading materials that have helped memecoin traders to make smarter decisions.
The platform featured a staking mechanism that rewarded users with more tokens when they staked their $MGLS. During its presale phase, $MGLS tokens were priced at just $0.0021. Interestingly, Microsoft AI had predicted a potential 1,000% price increase by the end of the presale.
