Stellar Holders Pivot to New ICO, Targeting 3,450% Gains

Stellar Lumens, trading under the ticker XLM, is moving against the current trend as investors shift capital into established large-cap tokens and promising new presales.

Data from CoinCodex indicates that XLM’s price fell by 2% over the last 24 hours, following a rally of up to 20% the previous day.

Launched in 2014, XLM is one of the oldest cryptocurrencies in circulation. It was designed to facilitate fast and low-cost cross-border payments.

Unlike Bitcoin ($BTC), which uses a Proof-of-Work consensus mechanism to verify transactions, Stellar employs its own consensus mechanism known as the Stellar Consensus Protocol (SCP). This system relies on a select group of “trustworthy” nodes that are periodically elected by the community.

However, the world’s leading cryptocurrency remains far ahead of XLM. Bitcoin rose 5.6% overnight, trading at $60,655.

Stellar XLM Price Chart

Over the past three months, XLM holders have experienced volatile price swings. Two significant crashes have established the token’s current support level at $0.075, as indicated by the green line in the chart below.

Source: TradingView

XLM reached a three-month high of $0.111 in mid-July, a price range the token could easily reclaim in a favorable crypto market. At its current price, XLM remains 89% below its all-time high (ATH) of $0.8756, recorded on January 3, 2018.

Since the token did not reach that peak during the 2020/2021 bull run, holders are unlikely to see those halcyon days soon. However, a stable relative strength index (RSI) of 49 suggests that today’s losses are unlikely to deepen significantly.

Stellar Lumens Traders Speculate on Meme Games

Stellar holders are currently shifting funds into a new presale that has quietly secured $352,000 in investments. Analysts suggest that due to its popularity and gamified buy-to-win element, the token could surge by 3,000%.

The concept merges the Olympics with meme coin mania in a new token called The Meme Games ($MGMES), which enthusiasts are promoting as the official meme coin of the 2024 Paris Olympics.

Investors who purchase $MGMES tokens can select their favorite meme coin avatar—choosing from Dogecoin, Pepe, DogWifHat, Brett, or Turbo—and watch them race for a one-in-five chance to claim a 25% bonus on their initial purchase.

$MGMES is currently available at a fixed presale price of $0.0092. In three days, the price will increase incrementally to the next fixed price of $0.00925.

This means investors can purchase 10,000 $MGMES tokens for just $91.50 today.

This represents the lowest price for the token for the remainder of the presale season, which runs concurrently with this year’s Paris Olympics and Paralympics.

Participants can purchase $MGMES an unlimited number of times with no minimum purchase requirement, allowing them to increase their chances of securing multiple 25% token bonuses.

The official project website and whitepaper encourage investors to stake tokens during the presale to take advantage of the substantial 606% APY currently on offer.

This figure decreases as the number of stakers increases, so participants are encouraged to stake early and in large amounts to maximize yield. Notably, staking is currently available only on Ethereum.

Altogether, this presents a more timely and potentially rewarding investment opportunity than Stellar’s XLM.

Follow The Meme Games on Twitter and Telegram.

Join the presale via the official website.

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