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Internet Computer (ICP) Flips Shiba Inu, Can Meme Moguls Compete with FLOKI?

2 Mins read

Internet Computer (ICP) soared by 247% in 2023. During its growth, ICP became the 16th largest cryptocurrency by market cap, flipping the number two memecoin, Shiba Inu.

Now, in 2024, Internet Computer looks to rebuild its reputation and has attracted thousands of bullish investors. Meanwhile, Meme Moguls, an exciting new P2E altcoin, also looks to capitalize on the ongoing market growth.

Internet Computer Becomes 16th Largest Cryptocurrency

Following a dramatic rally in Q4, Internet Computer’s open interest (OI) hit a 6 month high. Currently the 18th largest cryptocurrency in the world, Internet Computer has a daily trading volume of $577 million, over $200 million higher than Shiba Inu, which has a daily trading volume of $333 million.

According to data, around 36.6% of Internet Computer’s total trading volume comes from Binance, the world’s largest cryptocurrency exchange. Now, having dramatically grown its user base over the last quarter, prominent cryptocurrency analysts are praising Internet Computer for its long-term potential.

A recent statement from the House of Crypto compared Internet Computer to Bitcoin and Ethereum, stating that its innovations could have revolutionary impacts within the DeFi space. This sentiment was supported by Crypto Ninja, who referred to Internet Computer as a “long-term gem.”

FLOKI’s Price Crashes In December

While Shiba Inu and Internet Computer thrived in December, FLOKI’s price fell by 10.6%. This was disappointing news for the memecoin and has caused some investors to sell their FLOKI tokens. Its daily trading volume has since dropped to just $35 million, making it the 220th-ranked cryptocurrency by trading volume.

As FLOKI looks to recover from its poor performance in December, projects like Shiba Inu, Internet Computer, and Meme Moguls are looking to double down on their successes. With this in mind, FLOKI will need a strong bull run in January to compete.

Meme Moguls Soars To New All-Time High

Meme Moguls hit a new all-time high of $0.0027 after stage three of its presale quickly sold out. As the new altcoin’s momentum continues to build, some users become more optimistic.

Meme Moguls ($MGLS) is a new altcoin that combines memes and investing. It introduces a fantasy Meme game where investors can trade memes from projects like Dogecoin and Shiba Inu, as well as favorite internet moments and more. This fun and unique spin on investing is designed to unite meme lovers and investors in a single bustling community.

Players within the Meme Moguls ecosystem will be able to share trading tips, strategies, and updates with other investors, as well as challenge each other in simulated investing tournaments, compete for leaderboard spots, and generate passive income streams from liquidity pools.

During its presale, Meme Moguls will reward investors with several exciting rewards. These include gadgets, buy bonuses, and a $10,000 giveaway during each presale round.

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Harry is a crypto enthusiast and experienced trader with a track record of success. With a deep understanding of blockchain technology, he has analyzed market trends and identified profitable opportunities, resulting in impressive returns. Harry 's expertise lies in developing effective trading strategies that leverage the potential of cryptocurrencies. Through his articles, guides, and educational resources, he shares his insights and knowledge, helping individuals make informed trading decisions. With a keen eye for market patterns, Harry has navigated the volatile crypto landscape with confidence. Stay tuned for valuable perspectives and expert advice from Harry as he contributes to the Ailtra platform.
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