Meme Moguls (MGLS) moves to top dog spot as Shiba Inu (SHIB) and Dogecoin (DOGE) fall

The cryptocurrency market is currently experiencing a critical phase, with key players facing critical moments. Top cryptocurrencies such as Dogecoin and Shiba Inu navigated bearish trends and traded below established support levels. Despite this slump dominating this month, Dogecoin and Shiba Inu are still showing optimistic signs of a potential recovery. Meanwhile, Meme Moguls, a newcomer to the market, has also garnered a lot of attention from meme lovers, claiming the spot as the best cryptocurrency of 2024.

The New Top Dogs in the Meme Coin Market by Meme Moguls

Meme Moguls (MGLS) is strategically positioning itself as a strong player in the meme coin market, aiming to break away from the usual dependence on internet trends related to meme coins. In particular, Meme Moguls differentiates itself by introducing play-to-earn games that provide users with both entertainment and educational value in the investment arena while earning $MGLS tokens.

Compared to other meme coins such as Shiba Inu and Dogecoin, Meme Moguls integrates a variety of features including simulated investing, interactive gameplay modes, community tournaments, an NFT marketplace, and ambitious plans for the metaverse. This comprehensive approach positions Meme Moguls as a leading cryptocurrency investment.

At the core of the ecosystem’s operation, the Meme Moguls token (MGLS) serves dual roles as in-game currency and governance token, ultimately providing utility beyond mere hype.

With 5 presales underway and all initial deposits increasing by over 90%, Meme Moguls emerges as a serious contender for the top spot in the Meme coin space. Meme Moguls, which has established itself as one of the leading cryptocurrency ecosystems, is offering an attractive 30% deposit bonus offer and a chance to win $10,000 worth of MGLS tokens after the pre-sale.

As the coin falls further, Shiba Inu (SHIB) holders are going crazy.

According to CoinMarketCap, Shiba Inu Coin (SHIB) has suffered serious downside over the past year, with its price falling -22.4% year-on-year. Continued selling pressure has led to a difficult start to the year for Shiba Inu (SHIB) holders, with the stock down a notable 18.15% over three weeks. Recent price movements have raised concerns among SHIB holders, raising doubts about the prospects for meme coins in 2024 and reflecting waning interest in the token and meme coins in general.

Despite the economic downturn, Shiba Inu token burns are on the rise at this stage, with some experts suggesting that this development could set the stage for a future upward trend. However, if this trend does not begin in the near future, Shiba Inu prices could experience a significant bearish reversal. If this decline is completed successfully and SHIB reaches the target price, it will hit a new all-time low.

Can Dogecoin (DOGE) overcome $0.10 resistance?

Dogecoin (DOGE) has shown signs of declining investor interest following poor performance over the past month. Notably, the DOGE price has fallen more than 15% over the past 30 days, reaching a low of $0.076 on January 8.

Despite an anticipated 20% surge following a bounce from the 0.618 Fibonacci retracement level on Saturday, January 20, Dogecoin price reverted back to the initial $0.076 level, negating the gains.

Looking at the current trend, there is still a chance that a new uptrend may begin. However, since the price is close to the previous low, it will need to hold above it to hit the previous low. If DOGE remains above its previous low and experiences further upside, the potential exists for a new, more substantial upward trend to emerge.

If so, the expected DOGE price trend could break above and extend beyond the $0.10 resistance level, setting another high for Dogecoin.

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