BONK Surges 30% In a Week: Is Now The Time To Buy Meme Coins?

January 22, 2024
2 min read

The cryptocurrency market is abuzz with the rapid ascent of BONK, a meme coin on the Solana blockchain, marking a 90% surge in a single day. This growth, propelled by its listings on major exchanges, reignites the debate on investing in meme coins. Amidst this trend, Meme Moguls ($MGLS) emerges, blending meme appeal with actual utility in a unique meme-backed stock market platform.

Bonk (BONK): Memecoin Growth Indicates Meme Resurgence

The recent surge of BONK, a meme coin on the Solana blockchain, has sparked considerable interest in the cryptocurrency market. BONK has experienced an impressive rally, with a significant increase of 30% in just one week, reminiscent of the rise of Shiba Inu.

One of the critical factors behind BONK's surge includes its listing on major cryptocurrency exchanges such as Binance and Coinbase. These listings have played a substantial role in driving the upward momentum of BONK's price. Additionally, the general craze surrounding meme coins, as seen with Dogecoin (DOGE) and Shiba Inu (SHIB), has contributed to BONK's remarkable price performance.

However, there are concerns regarding the sustainability of this growth. While the meme coin has shown a strong performance, it lacks fundamentals, making it a risky investment. BONK aims to counteract these concerns by eventually launching its own DAO and integrating it with various parts of the Solana ecosystem. However, it remains to be seen if it can sustain its current momentum. However, there seems to be another memecoin gaining traction, but this one has actual utility.

Meme Moguls ($MGLS): Riding the Crypto Resurgence Wave

Amid the cryptocurrency resurgence, Meme Moguls has emerged as a distinctive player in the meme coin sector. As the world's first meme-backed stock market/exchange, Meme Moguls offers a unique and engaging platform for users. The $MGLS token enables users to trade meme-based assets and participate in various activities within the ecosystem, such as the Moguls Casino and Trading Platform.

Meme Moguls also features "Mogul Land", a metaverse world where users can mine tokens, join liquidity pools, and stake their tokens. The platform boasts a range of meme-inspired assets and allows users to earn additional $MGLS tokens through staking. 

With the crypto market's renewed bullish sentiment, as exemplified by the recent surge of BONK, Meme Moguls positions itself as a promising investment in the memecoin market, aiming to replicate the success of cryptocurrencies like Pepe and Shiba Inu. However, with actual utility on its side, its future seems optimistic since analysts are expecting Meme Moguls to grow 1000% during the presale. You can check it out here

Learn more about the $MGLS here:

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This Brand Press article was not written by Techpoint Africa’s editorial team. To promote your brand via Brand Press, please email [email protected].

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