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Ethereum, Chainlink soar amid altcoin surge: Is Meme Moguls also set to explode?

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on Dec 28, 2023
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  • Ethereum soared to reach highs above $2,400 and analysts see $2,800 as the next major resistance level.
  • Chainlink price has also surged amid rising whale activity and could spike further amid an altcoin rally.
  • Meme Moguls is currently storming through its presale, with price projected to rise post launch.

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Ethereum price has broken past a key resistance area to trade above $2,400, a move analysts are seeing as a bullish signal for altcoins. Indeed, the top altcoin’s near double digit surge coincided with significant moves for BNB, Cardano, and XRP. Bitcoin SV also surged, as did Chainlink, which rose more than 16% in 2024 hours.

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Analysts are pointing to a potential upward continuation for ETH and LINK. What does the overall market outlook mean for Meme Moguls (MGLS), a new token in presale that’s making waves across social discussions?

Ethereum price prediction

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Ethereum is currently poised above the $2,300 level after bulls shattered the key hurdles at $2,200. The leading altcoin, whose price has increased 20% over the past month, may just be at the beginning of a major upside flip.

After successfully retesting support at $2,200, the bullish momentum likely in coming weeks. According to crypto analyst Rekt Capital, ETH/USD above $2,274 could see bulls push for the critical resistance zone near $2,800.

If buyers maintain the grip on sentiment, the analyst suggests a 22% upside move could be in the offing.

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In a strong bull market, prices above $3,000 probably opens up ETH for a retest of its all-time highs. BitMEX founder Arthur Hayes recently predicted Ethereum could soon target the $5,000 level. It’s an outlook that would favour top altcoins like Chainlink.

After a choppy few months, LINK looked to lag as some coins ripped higher. But with price breaking above $16, a successful retest and establishment of the zone as support probably sets LINK on course for more gains.

The positive outlook for Chainlink is also helped by an increase in whale activity. There’s also its potential to be a huge player in the tokenization industry in 2024.

As shared by crypto analyst Ali, whales have gorged on roughly 7 million $LINK in the past week alone. That’s over $105 million worth of the altcoin, and a significant swell in buying pressure is likely as large holders flip bullish on LINK again.

Meme Moguls (MGLS): Could this token explode in 2024?

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Meme Moguls is bidding to be the world’s first meme-backed exchange. Other than a meme trading platform, Meme Moguls will also offer a play-to-earn game where players will get to hone their meme trading skills as they compete to become the next mogul.

The native MGLS is the in-game currency and offers multiple other benefits for the holder, including for governance and passive income.

If you are wondering why else you might want to join the Meme Moguls presale, then access to a market where you can trade all the top trending meme-inspired assets could be a plus. The stake and earn feature could also be a great way to earn passive income, as could be the rewards system available to top moguls.

In terms of tokenomics, a community-driven approach has 60% of the Ethereum-based token’s 3 billion total supply allocated to the presale. Interest has already seen investors breeze through the first two stages. Currently, stage 3 buyers can get MGLS for $0.0025, with over $1 million raised.

Statistics suggest the meme market could grow to a $6.1 industry by 2025. With Meme Moguls poised for dominance, the native MGLS price might mirror gains for Ethereum and other top altcoins. Expected upside momentum for the likes of Dogecoin and Shiba Inu also means Meme Moguls price may explode post-launch

Learn more about Meme Moguls and how to buy MGLS here.

This article is a collaboration between our Editors and our Partners, and it may contain sponsored advertising content and links. The content is not intended as financial advice and is for informational purposes only.

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