Meme Moguls, on the other hand, is a new project in presale, that is set to rise considerably. In this article, I explore the fundamentals of these projects and why Meme Moguls is way more bullish than Ripple.
Ripple’s problematic tokenomics
One of Bitcoin’s main selling points is its deflationary supply. Unlike fiat, which experiences inflation because central banks can print more whenever they want. (Free covid money anyone? Bank bailouts? You get the idea.) Crypto, however, is limited and becomes more scarce and therefore more valuable. Like gold.
Technically Bitcoin is not truly deflationary yet, as not all the coins have been mined, but the majority have. And because new mining is happening so slowly, it is a very stable currency.
Ripple, on the other hand, has a total supply of 100 billion Ripple, but a circulating supply of around half that, at 53 billion. This is because large amounts of the token have been put into escrow to be released slowly. 20% of the tokens belong to the founders, and the remaining 30% belong to Ripple Labs. The first of the token unlocks begin this month - 200 million. That’s over 122.6 million dollars worth of Ripple at today’s prices.
This means that, just like fiat, there will be inflationary selling pressure on the token, which is likely to reduce the price significantly.
Even in an (unlikely) best-case scenario where no one sells their tokens, Ripple still needs a lot of buyers to move its market cap of $33 billion. Doubling the price would require another $33 billion of dollars flowing into Ripple.
The Potential and Profit for Meme Moguls
Firstly, I’ll briefly explain what Meme Moguls is about. It's an upcoming play to earn game that capitalizes on the crypto community’s love of memes, fun and trading, and a desire to improve and learn more about making profits.
It’s a fantasy meme trading league, a community that rewards people for participation, and a place to mine NFTs and earn MGLS, the in-game token.
Players can build a meme-based avatar that they can level up as they progress and rank higher. Given that the meme economy is worth billions according to Statista, it's easy to see why this is a bullish idea.
Meme Moguls’ bullish tokenomics
MGLS has a total supply of 30 billion. At the current price of $0.0021, that’s a tiny market cap of around $5 million. The reason that it's so low? That’s because it is in the first stage of presale. This means that anyone buying now is getting almost the cheapest price that MGLS has been sold for. (There was a beta stage at $0.0019, and so the price has now risen by 10%).
60% of the tokens will be sold in presale, at ever-increasing price tranches. At the end of the presale, MGLS will be launched on decentralized exchanges and a centralized exchange. This costs money and so 10% of the tokens are reserved to pay for exchange listings and provide liquidity. This will be money well used, as exchange listings mean that the general public can easily buy the coin, pushing up the price considerably.
Another 10% are reserved for staking rewards and in-game rewards which enable people to earn money from the game.
The team will receive 8%, and the final 12% will go towards marketing and other things to attract more people to the community, again bullish for the price. The liquidity pools and team tokens will be locked for 5 years and 2 years respectively, meaning that there is a long time before the remaining 18% can cause any selling pressure.
Crypto experts are predicting that when the token goes live on exchanges it will skyrocket to $0.19 - a gain of around 8000%. This mirrors many presales in crypto history, and in fact, Ripple today has experienced growth of over 6000% from its presale price of $0.01
For more information about the Meme Moguls (MGLS) presale:
Website: https://mememoguls.com/
Twitter: https://twitter.com/meme_moguls
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