After two years of bearish sentiment, the crypto market returns as a bullish wave washes over the industry. It’s not just the big players like Bitcoin and Ethereum that are seeing an increase in value, as smaller projects such as Fantom (FTM), Polygon (MATIC), and Meme Moguls (MGLS) are skyrocketing in value as well.
Fantom (FTM): Gearing Up for $0.40 Breakout Level
Fantom has risen 20% in the last seven days during a bullish wave that has swept the crypto market. A closer look at the chart reveals that Fantom has bounced 100% from the October low of $0.17 to a recent high of $0.3451. The $0.40 level is the next and most important resistance level to watch, as it is a major breakout point.
But what is behind such an impressive rally? Analysts note that the price of Fantom was oversold due to panic selling during 2023. The Fantom Multichain Bridge was exploited in July 2023, resulting in a 2-year TVL low and a sharp token price decline.
Fantom has since been working hard to prove to the community that it can be trusted again. The project has revealed the Fantom Sonic upgrade to increase base layer scaling by 10x. Fantom co-founder Andre Cronje believes Fantom Sonic has the highest scaling capabilities of any blockchain on the market — something that investors are taking note of.
Polygon (MATIC): Setting Sights on Key Resistance Levels
While Fantom is a blockchain in its own right, Polygon operates as a layer-2 scaling solution on top of Ethereum. The current Polygon TVL of $840m shows that the project is already seeing success as projects fight to avoid Ethereum’s high gas fees.
The Polygon also shows a bullish narrative, especially with a 30% gain in the past seven days after bouncing from the $0.50 – $0.60 support area. The next price mark to watch is the psychological $1 resistance that Polygon has been above since April 2021. For some analysts, breaking above this level would confirm a fresh bull run and open the doors for an even bigger rally.
But what about the fundamentals of Polygon? The project is one of the most innovative in the space, with the Miden VM (v0.7) upgrade being the latest development. Early tests show that this upgrade is improving VM performance by at least 30% as Polygon continues to solidify its position as a go-to scaling solution.
Meme Moguls’s (MGLS) Innovative Approach: Blending Memes with Finance
Meme Moguls is fusing finance and internet culture by building a platform for trading meme-backed assets. It is the world’s first decentralized meme trading platform, and buzz grows as the project prepares for its official launch.
At the heart of Meme Moguls is a community-centric approach. It’s more than just a platform for financial transactions; it’s a space where meme enthusiasts and traders can come together, share insights, and collaborate on trading strategies.
Meme Moguls aims to expand their ecosystem by rewarding active community members. This is great news for early adopters as they can earn unique Non-Fungible Tokens (NFTs) and other exclusive rewards just by participating in the community. The team is even giving $10,000 to the most active community member on Twitter.
The platform operates with its native cryptocurrency, the MGLS token, which can be staked for passive income rewards and governance rights. The more tokens a platform user stakes, the more income they will receive from the Meme Moguls liquidity pool.
MGLS can now be bought for just $0.0019 in the first Meme Moguls presale phase. But act quickly, as there is a hard cap for tokens sold at this initial stage. Analysts even expect the token to rise by 1,000% by the time the presale ends and it hits exchanges.
Visit Meme Moguls Token Presale
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