Ethereum has been rising rapidly in the last few weeks, with gains of 18% on the 30d chart. After an increase of 9% in the last few days, the top altcoin aims to hit $2,500.
Some market professionals argue that Ethereum will lead this surge because of the increase in its value. However, another altcoin named Meme Moguls has emerged in the market to give ETH a run for its money. Let’s see how they can perform well if markets are going up high.
Ethereum (ETH) Surges By 9%, Will It Cross $2,500?
Ethereum (ETH) is beginning to pick up the pace after a rather slow start in the bull market. Ethereum has marked a 2023 high of $2,445 after its recent 9% price increase. Analysts have been excited about the rally, although its price has dropped to $2,330.
The increase in the price of Ethereum can be liked by several events. A significant reason is the approval of a spot ETF that has caused huge excitement in the crypto space.
An increase in the interest of decentralized finances (DeFi) has also been observed on the network. The recent purchase of BTC worth $615 million serves as a secure base for Ethereum (ETH) to move towards the upside, according to Jordi Alexander, the CIA of Selini Capital.
He has said that the ETH price will hit a big rally by breaking $2,500 in the next few weeks. Alexander added that at the start of January 2024, the stakes and rewards will be high for Ether. Pentoshi is another trader who also has a similar bullish take.
Pentoshi has said the price of Ethereum is $3,485 bound and is one of the top crypto coins to buy. But in order to raise the value of Ethereum, bulls must overcome $2,500. On the flip side, Meme Moguls have come up as a top altcoin with more momentum.
Meme Moguls (MGLS): The Dark Horse of the Bull Market
The popularity of Ethereum means it is one of the most talked about cryptocurrencies. However, while it has been predicted to rally in 2024, Meme Moguls (MGL) is one project that has shown enough potential to outperform the market.
Meme Moguls has created the world’s first DeFi project that blends investing and memes. The platform provides users with an innovative way to manage and grow their wealth by interacting with the meme-based marketplace.
This is how they can learn new investing strategies. A total amount of $100,000 will be given to new users to test their ideas and improve them on this new blockchain ICO.
There will also be many contests and matches through which students can win exciting prizes. A significant benefit, is to be able to withdraw the rewards will create an amazing passive income opportunity, which makes it even more interesting.
Meme Moguls had a surge in activity in December as a result of its innovative new model. This has aided the rise of its native token, MGLS, to $0.0025. Analysts predict a 20x price increase for MGLS once the blockchain ICO gathers popularity and launches in early 2024.
Final Thoughts
Ethereum’s recent price increase and strong fundamentals suggest that it is well-positioned to lead the altcoin rally. While ETH is expected to rally in the first quarter of 2024, Meme Moguls looks set to outperform the altcoin market. While still underpriced, now is a great opportunity to stack MGLS tokens before it becomes one of the top crypto coins.
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