The cryptocurrency market is inherently volatile, subject to daily shifts in sentiment and price dynamics. Facing bearish sentiments, Arbitrum (ARB) and Sei crypto have both witnessed a decline in their price trajectory, slipping below their established support levels.
While these top crypto coins face a downtrend, investors are exploring alternative options for diversification, with Meme Moguls (MGLS) emerging as a prominent choice. Currently progressing through the 6th stage of its presale, Meme Moguls is poised for a noteworthy launch within the coming weeks that will revolutionize the memecoin ecosystem.
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Arbitrum (ARB) Price Slumps After Convex Finance Sell-Off
The price of Arbitrum (ARB) has taken a hit, dropping by more than 10% below its weekly support level of $1.85. This recent price retracement comes almost after the native ARB token climbed above the $2 price mark.
Currently trading within a weekly price range of $1.98 and $1.78, the Arbitrum ARB token reflects a highly volatile price outlook that could see the token price drop further if there is no intervention any time soon.
Meanwhile, analysts point to a significant sell-off by Convex Finance as the main reason behind Arbitrum’s price decline. Notably, Convex recently sold 901,392 ARB tokens worth around $1.63 million, netting over $400,000 in profit.
While motivations remain unclear, the timing aligns with a broader market downturn, suggesting the need for potential risk aversion or profit-taking. Either way, it is important to keep in mind that Arbitrum is volatile, and short-term fluctuations don’t guarantee future trends.
Meme Moguls (MGLS): More Investors Join the Presale to Unlock Potential Gains
Meme Moguls (MGLS) is captivating an increasing number of investors as the year unfolds, emerging as a standout player among new meme coins. Currently making strides in its 6th presale stage, Meme Moguls presents an enticing opportunity with a 30% deposit bonus, positioning itself as an attractive option in the meme coin ecosystem.
Having exceeded $2.6 million in presale funds, the native MGLS token sets its sights on the ambitious $3 million milestone. It now trades at $0.0042, demonstrating an impressive 90% surge from its initial offering price of $0.0019.
Meanwhile, industry experts foresee the potential for even more substantial growth, projecting a potential 100x increase upon its listing on Tier-1 CEX platforms like Uniswap in Q1 2024. Interestingly, Meme Moguls offer more than just numerical achievements. It introduces an exciting play-to-earn game that immerses players in the dynamic world of meme trading.
Furthermore, Meme Moguls features a metaverse experience dubbed Moguls World, a virtual reality where users can connect, mine tokens, and stake, contributing to an immersive experience for meme enthusiasts. There is also a captivating gameplay that features both free and paid tournaments, enabling players to win various prizes and recognition via an incentivized leaderboard ranking.
Serving as the foundation of this ecosystem, the native MGLS token powers various activities within the Moguls ecosystem, ranging from virtual stock trading to staking mechanisms, ultimately solidifying its position as a noteworthy newcomer in the meme coin sector.
Sei (SEI) Price Significantly Drops by at least 15% in One Week
While the broader altcoin market experienced a downturn, Sei’s initial price increase earlier in the month, fueled by the Devnet upgrade, offered a glimmer of hope. However, a subsequent decline of over 15% within the past week has dampened the optimism, raising concerns among investors.
Despite recent bearish momentum, SEI token’s monthly price outlook maintains a positive trajectory, holding on to over 30% of its monthly gain. Ultimately, the price trajectory of Sei token remains uncertain. While the initial positive momentum offered promise, the recent price retraction and declining trading volume have cast a shadow of doubt.
The current price outlook further necessitates a closer evaluation of Sei’s fundamentals and future roadmap before considering additional investment.
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