New Altcoin Takes Pole Position: Destined to Outperform Ethereum (ETH) and Ripple (XRP) in 2024?
Release: 2023/11/16 16:30 Reading: 865
In the world of cryptocurrencies, Ethereum and Ripple stand out as two of the largest and most renowned. These digital currencies have made early investors wealthy, but their position at the top might soon face competition from a new altcoin that is generating excitement in the memecoin market. Let's delve into the specifics and examine whether this altcoin truly has the capacity to surpass Ethereum (ETH) and Ripple (XRP) by 2024.
Can Ethereum (ETH) Surge through Resistance?
Bitcoin continues to experience weekly upward movement, whereas Ethereum lacks the same level of bullish momentum. At present, Ethereum has seen a 70% increase from its lowest point in January, but it remains significantly below its record high of $4,800 in 2021.
Bitcoin remains the preferred choice for institutional investors, as they recognize its potential. On the other hand, retail investors are more inclined towards smaller-cap altcoins, hoping to maximize their returns from a small investment. Ethereum, however, does not fall into either category, which is why it has not performed well this year.
Investors have been experiencing significant discomfort with the ETH/BTC pairing, as the ratio of 0.051 is the lowest it has been since June 2021. If this level is breached, it is highly probable that the ratio will decline further to 0.040, which is the next crucial support level where interested buyers are likely to intervene.
According to the ETH/USD chart, the $2,100 level is a crucial resistance. If the price manages to surpass this level, it is likely to experience rapid gains as the digital asset enters a new bullish phase. Conversely, if Ethereum fails to break above $2,100, it could remain range-bound between $1,800 and $2,100 for an extended period of time.
Will Ripple (XRP) Ever Hit $1.00 Again?
Ripple has garnered negative attention in recent years for various reasons. The saga began when the Securities and Exchange Commission (SEC) classified Ripple's XRP token as a security rather than a currency. As a result, the token was removed from popular US-based exchanges like Coinbase.
In July 2023, Ripple experienced a surge in value, rising by over 100% from $0.47 to $0.93 within a single day, following its legal victory over the SEC. Nonetheless, the uptick proved to be brief as Ripple's value plummeted to $0.42 in the subsequent weeks.
Analysts are concerned that Ripple's underwhelming response to positive news could hinder its chances of reaching $1.00 again. The current market cap of $35 billion for Ripple puts a constraint on its potential growth, especially when compared to newer altcoins that have a smaller market cap but are showing more promise for upward movement.
What Is the Altcoin Destined for Pole Position?
While Ethereum and Ripple struggle to regain their previous highs, one new altcoin is making a name for itself: Meme Moguls (MGLS). But what is this new altcoin, and why is it being touted as one that could take pole position in the market?
Meme Moguls has the potential to become the world's inaugural stock exchange backed by memes. This unique platform allows memes to transition from mere sources of entertainment to valuable assets that can be traded. Individuals have the opportunity to become "meme moguls" by investing in meme stocks.
Users can acquire MGLS tokens, the platform's native cryptocurrency, by actively participating in meme investing, trading, and honing their skills. This allows users to not only profit from the increasing value of their meme portfolio but also receive rewards in the form of MGLS tokens.
Becoming a member of Meme Moguls goes beyond simply trading and making money; it involves becoming an integral part of a thriving community. Within this community, members have the opportunity to connect with like-minded individuals, share valuable insights, and learn from one another. The ultimate objective is to ascend to the pinnacle of the Wealth Leaderboard, where the most affluent and influential meme moguls are showcased.
Meme Moguls is poised to revolutionize digital investing with its groundbreaking utilization of meme-based assets, interactive community, and diverse range of functionalities. Moreover, investors of all backgrounds can take advantage of the affordable entry point of the MGLS token, priced at a mere $0.0019 during phase 1 of the presale.
According to analysts, early investors in memes typically reap the highest rewards. As an illustration, one individual who held onto Pepe memes turned their initial investment of $250 into an impressive $1.02 million in just four days. Analysts predict a similar outcome for those who invest in MGLS during the initial presale phases, potentially yielding returns of up to 100 times the initial investment.
Recent news
More>- 3 altcoins under $1 set to explode like the Dogecoin and XRP price 11-22
- The 4 Top Cryptos for Long-Term Investment: How Polkadot, Dogecoin, XRP & BlockDAG Stack Up 11-22
- The 4 Top Cryptos for Long-Term Investment: How Polkadot, Dogecoin, XRP & BlockDAG Stack Up 11-22
- Donald Nukes Ukraine Solana Memecoin Will Skyrocket 15,000% Ahead of Exchange Listing, As Shiba Inu and Dogecoin Underperform 11-22
- Shiba Inu Coin Price Set To Surge, As Pepe And New Meme Coin Trend Globally 11-22
- Bonk (BONK) Sets New ATH. Which Bullish Memecoins Are Next? 11-22
- Bitcoin Bull Run Fuels Dogecoin trading volume on Kraken 11-22
- How high can Pepe Coin price climb in 2024? 11-21
- Should You Buy Bonk Now or Invest in New Low Cap Meme Coins 11-21
Selected Topics
More>>-
- pepecoin Price Analysis
- This topic provides articles related to PepeCoin price, covering key PepeCoin insights and analysis
-
- pepe:meme star
- This topic provides articles related to the most promising meme, PEPECOIN, a project with the potential to become a mainstream digital currency. It has the advantages of decentralization, reliability, ease of use, fast speed, low cost and scalability, and is expected to be more widely used in the future
-
- pepecoin price prediction
- We’ve gathered facts about pepecoin’s success story and provided a pepecoin price prediction
Selected Articles
More>>- 1 Avalanche and Aptos rival raises over $600k in 2 weeks
- 2 Crypto Prices Today: Market Continues Rally With BTC, Pepe Coin, SEI Rising
- 3 Major Analyst Crypto Tony Bullish on These Meme Coins, But One Stands Out
- 4 MTAUR Ready to Crush DOGE and PEPE: 100x Price Growth Incoming?
- 5 Memecoins Surge in 2024, Popcat Leads with 7,621% YTD Gain, Outshining Top Crypto Tokens
- 6 PEPE Meme Coin Smashes ATH – See How Much an $83 Investment in Pepe Coin Last Year is Worth Now
- 7 Top 4 Altcoins At 70% Discounts – Last Chance!
- 8 Dogecoin Creator Proposes DOGE to NBA Legend Scottie Pippen
- 9 Top Analyst Who Predicted Dogecoin (DOGE) Last 170x Rally Forecasts New Parabolic Rise, Here’s His Price Target
- 10 New Solana Memecoin Trump Loves Elon to Rally 15,000% Before Exchange Listing, SHIB and Bonk Crash
ABOUT US
We are building the most influential，trusted information platform for aglobal community engaged in thd transformation of the financial system andthe emerging crypto economy.PEPE is an integrated platform for media,events,data & indices for the next generation fo investing and the future of money.
Get in touch with the PEPE team at admin@pepecoinbuy.com