Missed Bonk and Pepe? Meme Moguls could be the next big thing

Cryptocurrency prices bounced back in 2023 as the prolonged crypto winter ushered in a new crypto spring. As a result, the total market cap of all cryptocurrencies soared to over $1.6 trillion, adding over $600 billion in value since January. Most altcoins were in the green, with Bitcoin price surging by over 180% from its December lows.

Pepe and Bonk outperformed most coins

While most altcoins like Ethereum, Litecoin, and Solana surged meme coins were the best-performing tokens during the year. Bonk, which is a Solana token launched in December, jumped by more than 7,000% from its lowest leve. This surge brought its total market cap to over $1.2 billion, which is a lot of money. 

Bonk has also seen the number of its holders jump to more than 526k, according to SolScan. While most of these holders are small ones, the reality is that Bonk has created many millionairesa long the way.

Bonk was not the only meme coin that thrived in 2023. Pepe, a new frog-themed token, also surged, giving it a market cap of over $528 million. Like Bonk, the token also created many millionaires even though it has no major utility.

There were other meme coins that soared but didn’t make headlines. Samoyedcoin, a meme coin for the solana ecosystem, also rallied, giving it a market cap of more than $86 million. 

This performance means that there is still more demand for meme coins. Besides, Shiba Inu and Dogecoin are still multi-billion dollar coins even though their performance was weaker than the new tokens. It also means that more tokens could surge as the Fed and other central banks change their tune on inflation.

Meme Moguls could be the next big thing

Against this backdrop, many traders are in search for the next big meme coin that will join Pepe and Bonk in their remarkable rally. It is still too early to predict which token will succeed because many of them have been launched already.

Some analysts believe that Meme Moguls could be the next big thing in the meme coin industry. For starters, Meme Moguls whose token is MGLS, is an upcoming meme token that is currently in its presale. Within days, the token has already raised over $650k from investors.

MGLS token was selling at $0.0023 and the developers expect to raise it in the coming days as the momentum continues. This trend is accelerating after they launched a massive giveaway that will see lucky winners scoop about $20k in MGLS tokens.

You can buy the MGLS using this link.

Meme Moguls will likely benefit from key tailwinds in the crypto industry. There are rising hopes that the Federal Reserve and other central banks will start cutting rates in 2024. Others expected to cut are the Bank of England and the ECB.

Further, there are rising hopes that the SEC will approve a Bitcoin ETF in the near term. Also, Bitcoin halving will happen in April. In most cases, Bitcoin and other altcoins tend to do well ahead of a halving event.

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