Solana (SOL) and Shiba Inu (SHIB) Face Bearish Pressure – Meme Moguls (MGLS) Captures Investor Attention With Massive Presale Momentum

January 24, 2024
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3 min read

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Solana (SOL) price trends have recently undergone a minor retreat due to bearish market fluctuations. Despite this, the market valuation of SOL stands at $37 billion, securing its position as the fifth-largest cryptocurrency in terms of market cap. 

On the other hand, Shiba Inu (SHIB) has remained under bearish pressure despite the increased interest in the meme coin. As a result, many have turned their attention to the Meme Moguls (MGLS) presale, which has recently reached Stage 5. Today, we will review each cryptocurrency's price performance to determine just how far they can rise.

Shiba Inu (SHIB) Faces Bearish Challenges – Is There Hope for the Future of the Meme Coin?

Shiba Inu (SHIB) has also recently undergone some bearish pressure despite factors such as encouraging SHIB burn statistics and continuous network improvements. It's clear that there is a notable reluctance among major investors, or whales, to gather more of the meme coin. Nevertheless, a hurdle presents itself in the form of a massive concentration of 47 trillion of the Shiba Inu crypto, which is located at a marginally higher price point of $0.00001 per SHIB. 

This could result in a loss for 100,000 holders, assuming bulls do not regain control of the Shiba Inu price. While SHIB has remained below its 20-day EMA, the bears have not driven the price down due to increased buying pressure near the dip. According to the Shiba Inu price prediction, it can end 2024 at a value of $0.000015.

Meme Moguls (MGLS) Experiences Massive Stage 5 Presale Momentum – Can Its Value Spike 100x?

Meme Moguls (MGLS) is an upcoming platform that will introduce a simulated trading experience and make it accessible to anyone. Players will utilize P2E elements to turn their time into profitable returns and, in the process, can improve their trading strategies.

Every player starts with $100,000 in virtual currency, which they can then use to create a portfolio and begin completing challenges. Any of these simulated profits can then be turned into cashable returns. In addition, the platform will even feature a dedicated Metaverse known as Moguls World, in which anyone can mine, connect, and even join liquidity pools. 

<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&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MGLS</a> Farming. Coming soon… <a href="https://t.co/9UPUeV5klt">pic.twitter.com/9UPUeV5klt</a></p>&mdash; 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>

MGLS is the in-game currency and the governance token on top of the platform. Anyone can stake it in the Meme Moguls pool to get a fixed passive income. The project recently moved from Stage 4 to Stage 5 of the presale, climbing by 33% to $0.0036. As it has massive attention, analysts are projecting 100x growth at launch. 

Solana (SOL) Price Dips Under $90 – Can It Move Above $100 Again?

Solana’s (SOL) trajectory has recently declined and is oscillating between $100 and $87. This phase is marked by volatile trading dynamics, which are also encapsulated with gradually converging trendlines. Despite a weekly decrease, the Solana price still has the potential to recover, assuming it breaks above the $90 threshold again. 

Based on the weekly Solana crypto outlook, the crypto moved from $87.30 to $102.06 at its highest point before retracing. The current SOL market dynamics present a scenario of high uncertainty. With increasing bearish pressure, speculation is growing that SOL could soon approach the $90 mark. If this trend is sustained, it could lead to further decline. However, there is also a possibility for an uptrend, as if the technical dynamics shift in a bullish direction, SOL could see an upswing. The optimistic Solana price prediction indicates that it can end 2024 at a value of $159.03. 

Summary

Solana and Shiba Inu are currently battling high volatility and bearish pressure from the market. Despite this, all of the attention has gone towards the Meme Moguls DeFi project, as its blockchain ICO has the potential to break new records and position it as a dominant force in the market. 

Visit Meme Moguls

This article is a Brand Press post. Brand Press is a paid service for brands that want to reach Techpoint Africa’s audience directly. Techpoint Africa’s editorial team doesn’t write Brand Press content. To promote your brand via Brand Press, please email business@techpoint.africa

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