As the crypto market enjoys December’s gift of price gains across major altcoins, one of the most notable performers has been PancakeSwap (CAKE). Its native governance token has seen remarkable growth in value over the last week, gaining nearly 60% to trade above $3.72, last seen in April 2023. A major factor in these gains has been the platform’s token burns, with the biggest happening this week. On December 26, PancakeSwap incinerated more than 10 million CAKE tokens worth around $34 million, reducing its circulating supply significantly and potentially adding to buy pressure as investors seek potential bull market gains.
The fear of missing out on a potentially 100x token has savvy traders increasingly interested in Meme Moguls (MGLS). This innovative meme-based assets’ marketplace offers token holders the opportunity to join a community-driven project, with earning avenues such as staking, trading and a gamified world with exclusive NFTs. Meme Moguls presale has stormed to stage 3, with rising amounts allocated to buying MGLS. The traction comes amid a resurgence in meme coins, with recent spikes for Bonk, Shiba Inu and Dogecoin. The project’s tokenomics, with a 60% allocation for the community and zero buy and sell tax, has the trading community thrilled. MGLS is currently priced at $0.0025, offering a potentially bargain base for investors.
A moment’s pause to consider the next move in the crypto market can see one turn a seemingly unfancied token into a 10x, 50x or even 100x or higher asset. As such, it is paramount to do due diligence before any investment decision, and that includes Meme Moguls. The potential for growth is there, with the token’s value having reached highs of $43.96 during the last bull market. Could this token bring the meme sector to the next level?
