Cardano’s Snek and Solana’s Bonk Soar to New Heights – Will the Next Ethereum Chain Meme Coin Follow

by Gregory Pudovsky

Published: December 13, 2023 at 7:00 am Updated: December 13, 2023 at 11:52 am

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In Brief

Explore Cardano’s SNEK and Solana’s BONK rise, while Ethereum’s Meme Moguls gains traction. Will the next meme coin outpace the crypto race?

Meme tokens, a unique subset of cryptocurrencies, are easily identifiable by their comedic elements mirroring well-known internet jokes and pop culture references. Not only do they serve practical purposes within the crypto space, but they also gain attention for the swift rise in market value evident from their initial presale stages. The Erc-20 Meme Moguls (MGLS) token fits this perfectly and is in its first presale stage. Experts say MGLS is on the way to giving users a 10X return on launch.

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Cardano’s SNEK Hits 170% Increase in a Week and Gets Recognition From Charles Hoskinson

Snek (SNEK), a meme coin built on the Cardano blockchain, drew the attention of Charles Hoskinson, the founder of Cardano and a prominent figure in the industry. The SNEK community is actively implementing seven distinct burning mechanisms to reduce its circulating supply of 70.8 billion tokens. These mechanisms include a token bridge, staking pool, liquidity provider trading fee rewards, lending, and an ADA raffle system.

The token conducted a presale on April 27, 2023, lasting six hours with a minimum purchase requirement of 20 ADA coins. Notably, the presale gained significant traction on X. According to the SNEK community’s post on X, SNEK emerged as the most traded asset within the Cardano ecosystem in October, reaching a market cap of $196.6 million. The recent 170% surge in price has elevated Cardano’s status as a chain to watch in the coming weeks.

Ethereum is not Left Out of the Meme Race With Meme Moguls Taking Charge

Ethereum meme token MGLS has had a lot of community buzz recently and may have put Ethereum back on the map for the best meme crypto to buy come 2024. Meme Moguls (MGLS) is an Erc-20 project that combines GameFi and meme elements and has real use cases.

Meme Moguls offers a platform for users to engage in enjoyable activities while having the opportunity to win and stake its currency for potential monetary rewards. The project strategically aims to boost the demand for its native currency, MGLS, by simplifying the integration of NFTs into its ecosystem. This enables users to buy and sell rare NFT characters, enhancing trade convenience and profitability.

With a limited cap of only 175 million tokens available, the tokens are selling fast and the first presale stage is almost clear of its first milestone. This momentum makes MGLS an enticing option as the best crypto to invest in.

Visit Meme Moguls

BONK Might Carry the Weight of the Solana Chain Far Into the New Year

With its unique approach to meme tokens, Bonk (BONK) has managed to capture attention not only for its memefied approach but also for its remarkable market performance. 

Since its launch, BONK has witnessed an impressive surge in market value, with the most recent reports showing that the Solana memecoin gained 35% in a day and 1,000% in the last 30 days, throwing it up the ranks to become the 77th largest cryptocurrency by market cap as at the time of writing. Without any iota of doubt, BONK is now firmly in the spotlight as one of the top altcoins to buy.

While Solana and Cardano have produced prodigies for the next bull run, Ethereum-based memecoin Meme Moguls has lofty hopes of racing far past and into the moon. With the rate of acquisition of the MGLS tokens, it won’t be long before it headlines the meme crypto industry.

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About The Author

Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.

More articles

Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.