XLM bullish ahead of Stellar network upgrade; Meme Moguls gains momentum

Stellar (XLM) is gearing up for the launch of smart contracts on the mainnet.
Meme Moguls (MGLS) could be the standout crypto meme project in this market cycle.
MGLS price in presale stage 5 is $0.0036, up 89% from the initial $0.0019.

Stellar announced on Wednesday that a vote for its highly anticipated software upgrade, the Protocol 20 upgrade, will happen as planned on January 30, 2024. XLM price flipped positive in the past 24 hours as the potential impact of the upcoming network change drives fresh interest.

Elsewhere, market confidence in new meme-backed exchange Meme Moguls (MGLS) has seen investors flock to its presale. Find out why XLM and MGLS could be great investment opportunities in 2024 and beyond.

Stellar poised for Protocol 20 upgrade

In December 2023, the Stellar Development Foundation (SDF) announced that the quest to bring smart contracts functionality to Stellar had hit a new milestone. It was that the network would have its Soroban smart contracts roll out on the mainnet after a vote on January 30.

The software upgrade that supports this functionality is Protocol 20, which SDF just confirmed will go to a validator vote on the 30th of this month. A phased roll out will follow.

Denelle Dixon, CEO and Executive Director at Stellar Development Foundation, says the launch of Soroban smart contracts is the “foundation of a more inclusive future” for Stellar. The excitement is visible across the XLM community.

Meme Moguls offers opportunity with meme-backed exchange

As the broader crypto market looks to recover following recent downside action, a lot of attention in the presale market has shifted to tokens deemed to be below the radar but that offer huge investment potential.

In the meme coin world, finding the next Dogecoin or Shiba Inu is many traders’ focus as they hunt in the gem land that is crypto presale. One project that currently stands out is Meme Moguls.

Meme Moguls is a platform that combines the simulated trading of hottest meme-based tokens and play-to-earn tokenomics. In this way, the meme coin community has the opportunity to earn from viral meme performance while tapping into the entertainment environment of P2E games. 

But more than the simulated trading and the chance to become a mogul being attractive, there’s another reason Meme Moguls is seeing huge interest. That reason is this: holding the native MGLS offers exclusive access to passive income earning opportunities. 

The Ethereum-based platform’s native token will allow holders to participate in staking via the stake-and-earn feature. Other than this, one can earn rare NFTs through gameplay achievements, with these NFTs tradable at marketplaces such as Opensea.

Are Stellar (XLM) and Meme Moguls (MGLS) a good buy today?

XLM is the native cryptocurrency in the Stellar blockchain ecosystem. The token’s main use as a transactional currency powers the decentralized blockchain platform’s digital payments network.

Ahead of an upgrade that introduces smart contracts capabilities, XLM looks poised for an upside momentum as it hovers near $0.11. With prices down almost 12% in the past one month, investors could use any downside as an opportunity to add to their portfolios.

Notably, Stellar reached highs of $0.8756 at its peak in 2018, which suggests an explosive bull rally could see it recoup most of the losses seen since.

On the other hand, the kind of utility that Meme Moguls offers means MGLS could be the next hottest meme project. Analysts looking at the trajectory of the meme coin market and Meme Moguls’ potential to dominate its space has MGLS seen as a potentially 100x token. 

This outlook has added to the project’s presale momentum, pushing the total amount raised to over $1.9 million.

Currently, MGLS is priced at $0.0036 in stage 5 of its presale – indicating an impressive 89% increase during this phase. Early adopters could unlock more gains after the final stage and when Meme Moguls enters the trading market.

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