- Solana (SOL) briefly surpassed XRP as its market capitalization climbed above $33 billion.
- Analysts are offering bullish forecasts for SOL and note the potential for further upside.
- The new meme token Meme Moguls (MGLS) is generating excitement as it enters the second stage of its presale.
Over the past several months Solana (SOL) has outperformed Bitcoin and many major altcoins. With bulls expected to push prices above $70, Solana’s market capitalization briefly overtook XRP’s amid continued upward momentum.
At the same time, the meme token Meme Moguls (MGLS) appears positioned for strong interest in 2024 as its presale progresses.
What’s next for Solana after briefly surpassing XRP?
Solana’s native token SOL has risen more than 600% from its December 2022 low. The smart-contract blockchain’s token recovered sharply after the market-wide sell-off triggered by the collapse of crypto exchange FTX, which pushed SOL below $10.
SOL has reached highs near $79, and many market participants expect further gains — some anticipating a move toward $100 in the coming weeks as bullish momentum builds. Solana’s recent surge was partly fueled by activity around the meme coin Bonk (BONK), which helped push SOL’s market capitalization above $33 billion on December 20 and allowed it to briefly outpace XRP.
One crypto analyst highlighted that Solana’s uptrend could continue amid what they described as a “bullish consolidation.”
“There’s no doubt it will keep going up,” wrote analyst The Crypto Dog on X.
Meme Moguls (MGLS) — a meme token gearing up for a big 2024
Meme Moguls (MGLS) is a newly launched crypto project aimed at both experienced traders and meme-coin enthusiasts. It features a play-to-earn (P2E) gaming ecosystem that allows users to engage with current crypto trends and apply trading skills to earn rewards denominated in the native MGLS token.
Users can compete on leaderboards, stake tokens, trade NFTs, and use other innovative mechanisms designed to let MGLS holders grow their rewards while supporting the ecosystem or competing against community members.
During the presale, Meme Moguls has allocated 60% of its total 3 billion token supply to early participants. Given the token’s meme potential, some market observers are comparing it to past viral projects such as Pepe, Bonk, Shiba Inu, or Dogecoin — a dynamic that has driven active discussion around the presale.
Meme Moguls presale details
Initially priced at $0.0019, MGLS has risen to $0.0023 amid strong buying interest from early traders. The second stage of the presale has already raised over $600,000.
According to the presale page, fewer than 164 million tokens remain available before the next stage and a scheduled price increase.
As the presale continues, strong demand from early investors could support higher token prices when the project launches early in 2024. Some optimistic projections suggest MGLS could rise by multiples if broader crypto market conditions turn favorable.
For readers who want to learn more about the project’s tokenomics and utility, the presale page provides detailed information and documentation.