Analysts expect PEPE and Meme Moguls to surge in late 2023, Shiba Inu struggling
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Analysts have picked PepeCoin (PEPE), Meme Moguls (MGLS), and Shiba Inu (SHIB) as tokens that could rally as 2023 comes to a close. As this happens, Shiba Inu, the second largest meme coin by market cap, has contracted in price despite the recent token burning rate.
Can PEPE market cap reach $500 million?
PEPE rapidly gained momentum after launching in April 2023, entering the top 100 coins by market capitalization within its first two weeks.
Its token price hit an all-time high of $0.000004354 in May.
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Since then, PEPE has seen declining valuations amid the broader crypto downturn, trading 9.6% over the past week from around $0.00000118 down to $0.00000105 as of November.
However, the project maintains a sizable market presence, with its current market cap hovering near $441 million. Some analysts expect PEPE’s market cap to break above $500 million in the coming sessions.
Still, sustaining and building on previous peaks remains challenging while crypto markets face extreme uncertainty.
Shiba Inu stagnates despite rising burn rate
Shiba Inu has a token supply of over 589 trillion SHIB. However, more than 410 trillion tokens have been removed from circulation to create price scarcity and increase its value.
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Despite this effort, SHIB prices are under pressure, dropping 5.3% from a seven-day high of $0.00000854 to $0.00000810, according to CoinMarketCap.
Recently, 264 million SHIB tokens went out of circulation but failed to spark demand.
Meme Moguls launches new features
Meme Moguls plans to introduce the world’s first meme exchange.
With the meme coin ecosystem and total market cap exceeding $18 billion, Meme Moguls aims to carve share from the scene.
Towards this, Meme Moguls plans to cater to meme enthusiasts’ diverse needs. At its core is the Moguls Casino, where users can gamify their experience using MGLS and meme-related items.
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Meme Moguls also plans to introduce a Moguls Exchange Trading Platform for meme traders. This will simplify the trading of memes.
Meme Moguls will allow users to invest in liquidity pools and mine tokens to foster community engagement and participation. This approach aligns with the project’s emphasis on community-driven growth and empowers users to contribute to the ecosystem’s success.
Currently, MGLS is available for $0.0021 in the ongoing presale. Additionally, Meme Moguls hosts a $10,000 giveaway after each presale stage, incentivizing early participation.
Read more: Ethereum whales may trigger ETH rally, Celestia and Meme Moguls uptrend remain
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