Shiba Inu’s latest venture, Shibacals, has recently announced an exciting NFT collaboration with a major celebrity.
While the buzz around this move is palpable, it begs the question — how will this impact the meme coin market and can other participants such as Meme Moguls (MGLS) compete?
Meme Moguls (MGLS) Promises to Revolutionize Virtual Trading with Memes
Meme Moguls is creating a P2E realm where virtual trading meets the fun world of memes. Players are given virtual funds to buy, sell, and trade meme stocks in a simulated market environment. The goal is to learn about the stock market in a fun and engaging way while having the chance to earn real-world rewards by making successful trades.
Players can challenge their friends or community members in tournaments to create an interactive environment with healthy competition. The Wealth Leaderboard keeps track of the top players and their net worth, adding another layer of excitement to the game.
Additionally, the “Beat the Market” mode challenges players to outperform real stock market indices. Successful traders stand to win MGLS tokens and other meme-based rewards like NFTs and Dogecoin.
The MGLS tokens play a vital role in the Meme Moguls ecosystem. They can be used to participate in governance, traded for other cryptocurrencies, or staked for even more rewards. So not only can you earn MGLS tokens through trading skills, but you can make them work for you as well.
The MGLS token is selling for $0.0023 during phase 2 of the presale, giving players an opportunity to stock up and get in on the ground floor. This price is set to increase as tokens are sold in subsequent phases – this is how the presale is structured.
Shiba Inu-Backed Shibacals Launches NFT Collaboration
Shiba Inu is a memecoin that rose to fame in 2021 after soaring by 10,000% in just a few short months. It had the vision to defeat Dogecoin and become the #1 memecoin by market cap. With Shiba Inu’s market cap of $5.6 billion just behind Dogecoin’s $14 billion market cap, it has nearly accomplished its goal.
The latest attempt to grow the Shiba Inu ecosystem is the launch of a subdivision called Shibacals. This new project focuses on creating authentic collectibles for anyone to purchase and trade, with each item chipped with unique properties and a backstory.
Shibacals has recently announced an NFT collaboration with none other than Busta Rhymes! The two have partnered to create ‘Celebrities NFT Collectibles’ by blending virtual and physical world experiences.
The media buzz has already begun, with Busta Rhymes’ reach in the mainstream media circle attracting major attention to Shiba Inu. In fact, the price of Shiba Inu has jumped from $0.00000841 to the current price of $0.00000966 in the last week. Surpassing the $0.00001000 resistance is now the focus of the Shiba Inu bulls.
This collaboration is yet another string in the bow of a project with a layer-2 protocol, decentralized exchange, and multi-coin ecosystem. However, with Shiba Inu’s price still down 89% from the all-time high, it remains to be seen whether this NFT collaboration will push the envelope.
Some analysts note that the $5.6 billion market cap is fair for Shiba Inu’s current stage as a project and it’s interesting to see how Meme Moguls’ MGLS will compete.
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