In this article, we will discuss the recent surge in prices of Ethereum (ETH) and its potential to reach $2,500 in November. We will also explore the presale of Meme Moguls (MGLS), an upcoming meme-based token already taking the market by storm. Let’s look at these two narratives shaping the cryptocurrency market.
Why Ethereum (ETH) May Reach $2,500 in November
Ethereum was priced at $1,500 in mid-October and has since climbed to $2,050 in just a few weeks. But is there more room for growth? Many analysts believe Ethereum may reach $2,500 in November due to several factors.
One major factor is the possibility of an Ethereum spot ETF from Blackrock. While no application has been approved by the SEC yet, BlackRock has registered “iShares Ethereum Trust” as an entity in the U.S. If approved, this ETF could bring institutional investors and a significant amount of capital into the Ethereum market.
Another factor contributing to the potential price rise is the upcoming Ethereum network upgrade that will see EIP-4844 implemented. EIP-4844, also known as proto-danksharding, is Ethereum’s next scaling upgrade to increase network efficiency and reduce fees.
While the layer-2 scaling solutions are already doing a great job decreasing fees, implementing EIP-4844 will lower fees even further. With the likes of Solana pumping 200% in the last month, Ethereum needs to stay competitive by updating its network.
The two fundamental factors mentioned above are the driving forces behind the potential for Ethereum to reach $2,500 in November. However, there are also some technical indicators supporting this prediction.
The Ethereum chart shows that the only resistance before $2,500 is $2,100. While this level hasn’t broken since May 2022, the current market conditions and upcoming upgrades could push Ethereum to break through this resistance and hit $2,500 within days.
Investors Flock to Meme Moguls (MGLS) Presale
Meme Moguls combines meme culture and the traditional financial industry to create a unique investment opportunity. The team behind Meme Moguls is building a platform where users can trade meme-based assets as if they were on a stock exchange.
While the platform has not been built, the team is conducting a presale for their MGLS token. Millions of MGLS tokens have been sold for $0.0019 a piece as investors rush to buy them before the price rises in later presale rounds.
The MGLS token will have multiple use cases, including for staking, governance voting, and as a medium of exchange on the Meme Moguls platform. With meme-based assets gaining popularity in the mainstream, there is significant potential for the Meme Moguls platform to attract a large user base and for the MGLS token to increase in value.
But buying the MGLS token isn’t the only way to benefit from this new opportunity. The platform also incentivizes participation with a Wealth Leaderboard, exclusive rewards, and unique NFTs earned through gameplay. Meme Moguls has even announced that one lucky person will receive $10,000 for being active on Twitter at each stage of the presale.
Community spirit lies at the core of Meme Moguls. The team wants to foster an environment where users can connect, share insights, and collaborate. This community-driven approach mirrors the success of meme-based tokens like Shiba Inu, which has seen a 1.6m% ROI in three years (Source: Thecryptobasic.com).
Analysts note that the ceiling for Meme Moguls is higher than most meme-based tokens due to the platform’s unique value proposition. The project can be the foundation for a new MemeFi era, where memes can be monetized and traded like any other asset class.
Early predictions for the MGLS token suggest a potential value of $0.19 by next year, representing a 10,000% ROI. It will be interesting to see how the market reacts as more details are released and the presale rounds progress.
