Bitcoin's Price Plunge vs. Meme Coin Surges: Is the Future of Crypto in Memes?
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December 27, 2023 05:32 PM Eastern Standard Time
Bitcoin’s price has been going up and down since the 6th of December. Meanwhile, meme coins like BONK, MGLS, and COQ have been going up. This follows a wider crypto trading trend, which is important to understand if you are looking for big gains.
Bitcoin’s shaky price action explained
Just a couple of months ago, Bitcoin was languishing around the $26k mark. Then there was a big leg up on the 24th of October to $36k, and the price was climbing steadily until it hit $44k on the 6th of December. At this point, the price was rejected and this now has become a resistance level.
We’ve seen fluctuations, with Bitcoin prices going as low as $40,766 before rebounding. January is sure to be an interesting month as we are set to see the SEC’s decisions on Bitcoin Spot ETFs. However many traders believe that a larger correction may be coming. While no one knows for sure what is next for Bitcoin, what we can see for sure is that meme coins are generating incredible gains.
As traders who’ve been around for previous bull cycles will know, this follows a standard pattern. Bitcoin goes up, outperforming many altcoins, then Bitcoin drops a bit and altcoins go up instead. And of all the altcoins we can see that some memecoins have proved the most profitable.
BONK and COQ go crazy
Bonk, a dog-themed memecoin on Solana, has been rising since the beginning of November, up 300% since then and 20,000% since its launch. 50% was airdropped to the Solana community, and free tokens have been offered to anyone who buys one of Solana’s Saga phones.
Amusingly, the price of BONK has gone so high that the value of the phone is now worth it for the tokens alone, causing Saga phones to sell out.
MGLS is the next meme coin to get into
MGLS is up by over 20% since it began its life. If you’re thinking that doesn’t seem impressive, that’s because the coin is in presale. So it is a bit like getting in on Bonk or Coq Inu, before they did their huge rallies.
So how much money could you make from MGLS? To understand this we need to know that Meme Moguls is more than just a meme coin. It’s a token that underpins the entire Meme Moguls ecosystem. It will comprise various play and earn game modes and a fun meme coin focused trading community. This means that people can get together, learn and earn together, whilst sharing alpha and trading strategies.
MGLS is predicted to do an 800% from here. And right now the only possible way for the token to go is up, since Meme Moguls is in the second stage of presale, with many more stages to go.
And once the platform goes live, the token could rise even more, and lead to the discovery of the next big coins such as Bonk and Coq Inu.
Whatever happens with Bitcoin, there’s no way it is going to do an 800% any time soon, since the market cap of BTC is already so high. That’s just one of the reasons that memecoins are the future for traders wanting high returns.
Learn more about the $MGLS here:
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