Hedera (HBAR) failed to sustain its high and reverted downward in value, which resulted in the resumption of a downtrend which could indicate further weakness in the market. The Sandbox (SAND) showcased a similar performance, as the cryptocurrency has experienced a dip in its value and is now under the 50-day EMA. However, while the overall market is experiencing a downward trend, the Meme Moguls (MGLS) crypto ICO has experienced a massive surge in activity.
Meme Moguls (MGLS) Reaches Stage 5 and Grows 33.33% – Price to 100x at Launch
Meme Moguls (MGLS) is an upcoming platform that’s pioneering a new way in which crypto traders and investors can access the meme coin culture whilst also advancing the skill level they have in implementing trading strategies.
This is an upcoming DeFi project that will become the world’s first meme-backed stock market exchange. It creates an engaging and dynamic ecosystem in which users can interact and trade meme-based assets whilst also earning significant returns. The platform will also introduce a unique approach where it will include features like a meme-centric casino and a dedicated Metaverse known as Moguls World.
MGLS is the native cryptocurrency, and it will be used in-game but can also be staked for additional capital gains. Recently, Meme Moguls reached Stage 5 of its presale. Here, a single MGLS token trades at just $0.0036, with a total increase of 33.33% from its previous stage. There will also be a $10,000 giveaway at the end of each presale stage. At launch, analysts project an upswing of 100x for this DeFi project’s native token, making it one of the most exciting opportunities for 2024.
Hedera (HBAR) Under the 50 and 200-Day EMAs – Can It Get Back Up?
Hedera (HBAR) is trading under the 50 and 200-day EMAs, which do not support the price trend. This means that bulls need to make a comeback and to do so, they will need to rise above and sustain the major EMAs. The sellers seem to be more aggressive on the Hedera price charts, and its current RSI is at 42.
The 14 SMA is above the median line at 45, pointing towards an indication that the Hedera crypto is bearish. However, it does have a chance to recover if sellers do not remain dominant on its charts. The MACD, RSI, and EMA are emphasizing negative signs, which imply a continued downtrend in its price. However, according to the Hedera price prediction, it can end 2024 with a value of $0.1244.
The Sandbox (SAND) Is Bearish on the Chart – The Price Has the Potential to Recover
The Sandbox (SAND) has not seen a significant rise in its value as of recently as it’s under the 50-day EMA. However, bears are clearly in control of The Sandbox price, and bullish investors need to surpass the current level in order to help the crypto move above its current resistance point.
This price action for The Sandbox crypto will be supported if it manages to get back above the 150-day EMAs, which can occur if bulls begin showcasing strengths. The current price action for the SAND crypto is indicative that a bullish trend has the potential to happen. According to The Sandbox price prediction, it’s expected for the crypto to reach $0.8116 by the end of the year.
Both the Hedera and The Sandbox cryptocurrencies are facing significant challenges during the ongoing bear market. As a result, many are turning their attention to lesser-known altcoins that can provide them with significant ROI. One such project is Meme Moguls, which is primed to see significant growth in the upcoming trading sessions, and as a result, has gained the most attention.