Ethereum (ETH) remains resilient, trending above $2,000 amid the overall market downturn. Shiba Inu (SHIB) has made significant strides, notably with the launch of the Shibarium layer-2 network. Meme Moguls (MGLS) is firm as it approaches the conclusion of the Beta presale stage, drawing considerable investor interest.
Ethereum accumulating
Ethereum is in a stage of accumulation following news of BlackRock filing for a spot Ethereum ETF.
The layer-2 network, Blast, has bridged over $230 million worth of ETH crypto and stablecoins.
Over the past week, ETH rose from $1,918.55 to $2,108.59. Its market capitalization currently stands at over $253 billion, with an average trading volume of more than $17.3 billion.
Overall, ETH prices are up 75.4% in the year. However, analysts forecast the coin to trade at over $3,100 by 2024.
Shiba Inu bullish
Shiba Inu has been firm over the past month. SHIB prices are up by over 14.5 million percent since 2020, establishing the relevance of meme coins in crypto.
The success of the Shibarium network further underscores its growing prominence.
Data from the Shibariumscan blockchain explorer shows that the network has processed over 4.1 million transactions and has over 1.2 million wallet addresses.
The past week saw SHIB range between $0.00000780 and $0.00000884.
This trend seems to have bolstered analysts’ sentiment, with SHIB price predictions suggesting a potential rise to $0.000013 by Q1 2024.
Meme Moguls encourages community-building
While Ethereum and Shiba Inu are bullish, Meme Moguls also shows potential.
The platform plans to introduce a new approach to trading meme-inspired assets, merging crypto with memes, and fostering community building.
Meme Moguls will feature the Moguls Exchange, where investors can trade, climb leaderboards, and even earn rewards for their participation. Additionally, it will offer a play-to-earn (P2E) experience through Meme Moguls Fantasy Trader.
Users will also gain access to Moguls Land, a metaverse where they can engage in various activities.
MGLS, the platform’s native token, is used for staking.
MGLS is trading at $0.0021 in the current presale stage, but analysts expect more gains on launch.
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