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Shiba Inu (SHIB), the canine-inspired crypto, is falling, prompting many to seek alternative memecoins. In its presale phase, Meme Moguls may outperform Shiba Inu in the days ahead.
Can Meme Moguls outpace Shiba Inu?
Meme Moguls is a new blockchain-based game that lets users invest in internet memes as assets and build meme-focused portfolios.
Its MGLS token serves dual purposes as an in-game currency and a governance token for the ecosystem.
Unlike meme-themed cryptocurrencies like Shiba Inu that gain value mostly from hype, Meme Moguls aims to create an interactive platform for users to engage with meme culture through trading and sharing.
The project claims to be the first to allow investing in individual memes using a stock-like system.
MGLS grants holders special privileges like trading abilities, staking rewards, voting rights, and access to exclusive features.
The token is currently in a presale phase priced at $0.0021 but is expected to increase in the coming stages.
Early presale participants also stand to earn staking benefits and limited NFT rewards, including a chance at a $10,000 prize at the end of each stage.
Shiba Inu rose 1,600,000% in 3 years
Despite being under pressure, SHIB is up 20% in the past week, in line with the broader crypto market.
Data from CoinMarketCap indicates a consistent negative trend in SHIB exchange net flows throughout the week, meaning that more coins were withdrawn than deposited.
There are indications that SHIB may rally. The active burning rate reduces the available supply, potentially supporting prices.
In August, Shiba Inu celebrated its third anniversary, posting 1,600,000% in return on investment (ROI). This means a $100 investment made at the beginning would now be worth around $1.6 million.
Investors are eyeing Meme Moguls as interest in meme-based altcoins grows, hoping it follows Shiba Inu’s path.
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
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This article first appeared at crypto.news
