This month saw major developments for ethereum (eth) holders with the official ethereum ETFs being submitted to the US SEC for consideration.
If approved, it could reshape the ethereum landscape by facilitating institutional investment.
Meanwhile, investors are actively participating in the pre-sale of Meme Mogul (MGLS), a project that aims to become a meme-backed stock market/exchange.
ethereum remains bullish
ethereum has underperformed other major cryptocurrencies such as bitcoin (btc) and Solana (SOL). However, the recent surge in ETF applications has reignited interest in the second-largest coin.
Analysts predict that ethereum could finally break through the $2,100 resistance level and reach $2,500 this November, representing a 22% increase from its current price of $2,045.
The approval of the first bitcoin spot ETF would indicate a growing consensus that an ethereum ETF is also likely to be approved, which could trigger a bull market.
However, breaking above the $2,500 mark will be a challenge as ethereum has been facing strong resistance at this level since May 2022. Still, a break of this resistance could pave the way for a significant rally, and some Analysts predict a possible all-time high. of $5,000 by the end of 2024.
Another bullish factor for ethereum is the upcoming EIP-4844 update, which will further reduce gas fees. While Layer 2 protocols have already improved transaction costs, EIP-4844 is expected to take this to the next level. For example, Optimism gas rates could drop from $0.38 to $0.040 once this proposal goes into effect.
With an ETF on the horizon, a favorable technical setup, and fundamental developments, ethereum could reach $2,500 this month.
Investors analyzing the pre-sale of Meme Mogul
Amid the possible ethereum price surge, tycoon memea stock market supported by memes, has attracted the attention of investors with its recent pre-sale launch.
The platform facilitates meme trading in a similar way to traditional stock markets, with the goal of taking advantage of the growing influence of memes in society.
Meme Moguls has sold millions of MGLS in the ongoing pre-sale. With MGLS trading at $0.0019, traders are expecting more gains in the coming months.
The Meme Moguls ecosystem includes Moguls Casino, Meme Moguls Fantasy Trader and Mogul Land, which offer rewards and entertainment.
Additionally, MGLS holders have access to betting, voting rights, and can participate in pre-sale giveaways.
With a memecoin market capitalization of $17 billion, some analysts expect MGLS to rise in tandem.
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