The price of the Ethereum (ETH) cryptocurrency, used for powering the smart-contract-enabled Layer-1 network, has been pushing higher. This has been the result of a favourable macro backdrop and as investors start looking ahead to the major upcoming “Dencun” upgrade. This update will introduce a new data storage capacity, and as a result, it has been a major point of appeal.
Yet, Meme Moguls (MGLS) has also been a major gainer due to its innovative approach. Today, we will look at both to see just how far they can rise and which is the best cryptocurrency to invest in.
Ethereum (ETH) Showcases Bullish Formation – Price to Reach $4,056.67 in 2024
Ethereum (ETH) reached significant gains during the past year, as the total price increased by 98%. In the past week, Ethereum moved up in value from $2,194.20 to $2,430.84.
According to the ETH on-chart data, the price validated the inverse head and shoulder formation, indicating a bullish pattern. Three consecutive lows form this pattern, along with two intermediate highs.
The first and third are called shoulders, which are located at the same level above the second low, the head. The pattern is completed when the right shoulder rises above the neckline, suggesting that further Ethereum rallying will be possible.
Relative Strength Index (RSI), and Moving Average Convergence Divergence (MACD) exhibit formations that leave room for bullishness. According to the Ethereum price prediction, it can spike to $4,056.67 in 2024.
Meme Moguls (MGLS) to Feature Staking Pools for Passive Income
Meme Moguls (MGLS) is an upcoming platform that will introduce play-to-earn (P2E) elements in its ecosystem. It will introduce a unique approach where the trading knowledge of each player will be enriched. This will enable anyone to monetize the time they spend on the platform. It’s built on top of Ethereum and can offer high security.
In the beginning, every player starts with $100,000 in virtual currency. They can only use 20% on a single trade to better simulate real-world trading. Each one of them can then set up tournaments and even compete in a simulated investing game.
To get more of the MGLS crypto, each player needs to contribute towards the Meme Moguls staking pool. This way, they can become eligible for rewards based on the pull share and the annual return percentage.
Each player can also unlock exclusive rewards, such as special privileges and unique NFTs, to enhance their trading experience and showcase their achievements.
Currently, during its crypto ICO, the project is at Stage 3, where a single token trades for $0.0025. At launch, it can surge as high as 100x. The presale has already generated $1 million, paving the way for further growth. These aspects make it the best cryptocurrency to invest in.
Summary
Aside from Ethereum’s prospects, Meme Moguls is pushing through its crypto ICO on a rapid basis. With its rapid upswing in appeal and vast ecosystem, coupled with earning opportunities, it can dominate the market in the upcoming months.
