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Meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) are struggling. Meanwhile, the Meme Moguls presale has raised over $2.3 million.
Meme Moguls presale hits $2.3 million
Meme Moguls is popular due to its unique play-to-earn game and token utility.
Through this project, users can earn rewards, climb leaderboards, stake meme-inspired assets, and earn rewards and NFTs.
Additionally, Meme Moguls provides an exclusive trading environment where traders can share their skills and access diverse investment opportunities.
Its native token, MGLS, is the lifeblood of the ecosystem, granting governance rights, marketplace access, and potential growth.
The platform has a valuation of $2 million as MGLS trades for $0.0036 in the current presale stage.
Dogecoin’s dominance dwindle
Dogecoin is down 11% and 21% in the past week and month, illustrating that meme coin’s viability depends on its usefulness.
The meme coin used to be popular due to endorsements from top figures like Elon Musk, and it was even accepted as a payment option by X and SpaceX.
Shiba Inu struggling
Shiba Inu rallied in the last bull cycle of 2021.
Its creator, Ryoshi, is anonymous.
Shiba Inu decreased by 23% from mid-December to the New Year.
At the same time, Shibarium–its layer-2 platform, also saw a decline in daily transactions and user activities.
Despite having millions of holders and a high market cap, Shiba Inu is still recovering from the effects of last year’s bear run.
Conclusion
Dogecoin, Shiba Inu, and other meme coins are under pressure. However, the Meme Moguls is successful as the platform is now worth $2 million. Supporters expect more gains, citing Meme Moguls’ unique play-to-earn system and token utility.
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