The post MoonBag Price Prediction – Could MBAG Explode? appeared first on Coinpedia Fintech News
MoonBag is a new meme coin currently undergoing a presale. It has raised $3.4 million so far, illustrating considerable interest among investors.
But is this token equipped for success after launching on exchange? Let’s find out.
MoonBag Could Rise Initially, But It’s Staying Power Is Questionable
With over $3 million raised in the presale, there’s every chance MBAG could pump once it launches on exchanges.
However, everything from the project’s mascot to its underlying purpose is conventional, so it remains to be seen if it can sustain its momentum.
There’s a monkey-themed mascot on a mission to the moon.
Per its whitepaper, MoonBag is redefining what’s possible in the crypto universe.
The basis for that claim is liquidity provision. It says that many meme coins fail due to insufficient liquidity when they launch on exchanges.
MoonBag will counter this by allocating a portion of the presale funding to exchange liquidity.
Beyond that, MoonBag seeks ways to reward and incentivize its community.
One of those is staking, which provides an 88% APY.
Another is its referral scheme, which enables its community to generate commission by referring others to the project.
That’s a strong base for community incentives and could explain the presale’s early success.
The current MoonBag price is $0.0003, but this will rise to $0.002 by the presale’s final stage.
Prominent centralized exchange LBank recently announced that it would list MBAG after its presale.
New #listing $MBAG (MoonBag) will be listed on LBank！@Moonbag_orgAt MoonBag, we're dedicated to fostering a vibrant and supportive community. Details: https://t.co/LvM4dut1Lv pic.twitter.com/AwMr3Ozfnx
— LBank.com (@LBank_Exchange) July 4, 2024
The project has also picked up media coverage in outlets like AnalyticsInsight and BlockchainReporter.
Evidently, there’s a lot of buzz around MoonBag, which could cause an initial price rally after its exchange launch.
That said, the project is lacking in some areas, too.
Firstly, its whitepaper does not outline any long-term plans.
This is a concern for those planning to hold MoonBag for more than a couple of days.
It also ramps up the risk of holding during the exchange launch.
Should the post-launch price action be worse than expected, selling pressure could flood the market. And because there is a lack of long-term vision, buyers may be unwilling to step in, causing the price to crash.
Another risk is the project’s lack of originality. The animal-themed meme coin on a moon mission is almost cliché at this point, with countless projects telling a similar tale.
With that in mind, there are potentially better meme coins on the market.
Could PlayDoge be a Better Presale Investment for MoonBag?
PlayDoge is another presale meme coin that many investors are backing to see success.
Unlike MoonBag, this project is brimmed with original concepts.
As such, its presale has proven even more successful, raising $5.4 million so far.
But now you’re probably wondering, what makes PlayDoge stand out? Allow us to explain.
While categorically a meme coin, PlayDoge is also a Play-to-Earn (P2E) cryptocurrency.
It’s inspired by the blockbuster 1990s Tamagotchi game which sold 82 million units.
In Tamagotchi, players would care for an 8-bit virtual pet, ensuring it was fed, rested, and entertained.
PlayDoge ups the excitement with real crypto rewards and swapping out the Tamagotchi pet for an 8-bit doge.
Players are economically incentivized to relive a nostalgic gaming experience.
While appealing to Tamagotchi’s 82 million users, the $PLAY rewards could also encourage more widespread adoption.
This year, P2E games Notcoin and Hamster Kombat have amassed 40 million and 210 million players, respectively. Evidently, P2E is entering a golden age.
So coupled with its meme coin allure, PlayDoge’s P2E juncture has gotten everyone interested, and some analysts think it could be 100x.
Adding to the excitement, the P2E game creates lasting potential, indicating that this meme coin could be around in one year, five years, or even ten years.
The current $PLAY price is $0.00516, but this will rise as the presale advances.
Visit PlayDoge Presale