Meme Moguls (MGLS) is signaling a potential 500% surge, while other prominent players like Avalanche (AVAX) and Polygon (MATIC) are bracing themselves for a price pullback. Notably, Meme Moguls is still in its presale phase, offering investors an opportunity to get in at the ground level. Let’s jump into the finer details of these three cryptocurrencies and see what 2024 could have in store for them.
Meme Moguls (MGLS): Shaping the Future of P2E Gaming
Meme Moguls is a stock market game where players can trade virtual assets to win real rewards. This unique concept has already gained a lot of attention, with the MGLS price climbing by 42% since the presale launch.
The upcoming P2E platform is designed to educate users on investment strategies, which can then be used in various trading competitions. Those who perform well in these competitions can earn MGLS tokens and unique NFTs on their way to the top of the Wealth Leaderboard.
These NFTs provide enhanced trading powers and improved market conditions. The rarer the NFT, the more significant its impact on gameplay, offering advantages like increased leverage and better spread conditions.
Holders of MGLS can enjoy benefits, such as staking rewards, governance rights, and exclusive access to certain game features. The demand for MGLS is expected to increase as more players join the platform and compete for valuable rewards.
While the game is yet to launch, there’s an early chance to own MGLS tokens by participating in the ongoing presale. The current price of $0.0036 will rise in subsequent stages, with a 500% surge potential when it arrives on Uniswap later this year.
Such bullish predictions are drawn from the success of similar P2E gaming platforms like AxieInfinity, the size of the $20 billion memecoin market, and the unique features and rewards offered by Meme Moguls.
Will Avalanche (AVAX) Reach $100 in 2024
Avalanche is a promising Layer-1 blockchain that aims to be the most developer-friendly in the space. The key innovation of Avalanche is the Subnets, which allow for the creation of custom subnetworks with their own unique rules and governance.
The flexibility of building on Subnets is highly attractive to developers, and this is reflected in the growing ecosystem on Avalanche. As of January 2024, there are444 projects building on Avalanche, ranging from DeFi platforms to NFT marketplaces.
The price of Avalanche has surged from $9.00 at the start of November to a recent peak of $50 at the end of December 2023. However, the price has since fallen to $38.66, and analysts believe that a deeper correction may happen in the near future.
Avalanche’s fully diluted market cap now stands at $27.90B. Such a ‘high’ valuation demands real-world adoption and consistent growth to justify the price. While the $219.22m DEX volume and $900m TVL are impressive, they are still relatively low compared to other layer-1 blockchain projects like Ethereum or Solana.
The Avalanche chart shows that the recent high of $50 is the strongest resistance level on the chart. Once the price breaks and holds above $50, it indicates a new bull phase that could potentially drive Avalanche’s price toward $100 in 2024.
Polygon (MATIC) 2024 Price Prediction
Polygon was the clear winner of the 2020/21 bull run, with a staggering gain of over 10,000% in just one year. Its popularity skyrocketed due to it being one of the first scaling solutions for Ethereum with a working product.
While the Polygon price jumped from $0.50 in mid-October to a recent peak of $1.09 in just two months, it is now back below $1.00 and trading for $0.92. Analysts believe the Polygon price may consolidate below $1.00 for a little while longer due to losing some of its hype and attention to other layer-2 solutions.
Polygon zkEVM is 11th regarding total value locked (TVL), with a market share of just 0.54%. While TVL isn’t the best metric to determine a platform’s success, it does provide insight into the development and adoption of scaling solutions. Polygon must continue building and attracting users to its ecosystem to maintain its market position.
The Polygon chart on the weekly timeframe suggests that a close above the $1.00 resistance level could trigger a breakout toward the previous all-time high of $2.70 in 2024. However, if Polygon can’t hold above $1.00 and consolidates further, it may signal a potential price pullback to support levels at $0.80 and $0.60.
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