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Meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) are struggling. Meanwhile, Meme Moguls presales raised more than $2.3 million.
Meme Moguls presales reach $2.3 million
Meme Moguls is popular because of its unique play-to-earn game and token utility.
The project allows users to earn rewards, climb leaderboards, stake meme-inspired assets, and earn rewards and NFTs.
Meme Moguls also provides an exclusive trading environment where traders can share their skills and gain access to a variety of investment opportunities.
The native token, MGLS, is the lifeblood of the ecosystem, granting governance rights, market access, and potential growth.
With MGLS currently trading at $0.0036 in the pre-sale phase, the platform is valued at $2 million.
Dogecoin’s dominance declines
Dogecoin has fallen 11% and 21% over the past week and month, showing that the meme coin’s viability depends on its utility.
Meme Coin has gained popularity with endorsements from top figures such as Elon Musk and has also been approved as a payment option by X and SpaceX.
Shiba Inu struggling
Shiba Inus rebounded in the last bull cycle of 2021.
Creator Ryoshi is anonymous.
Shiba Inu sales decreased by 23% from mid-December to the New Year.
At the same time, daily transactions and user activity on layer 2 platform Shibarium also decreased.
Despite its millions of holders and high market capitalization, Shiba Inu is still recovering from the effects of last year’s weakness.
conclusion
Dogecoin, Shiba Inu and other meme coins are under pressure. However, Meme Moguls has succeeded as the platform is now worth $2 million. Supporters hope for even greater profits, citing Meme Moguls’ unique Play-to-Earn system and token utility.
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