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What is MoonBag?
MoonBag (MBAG) is a new meme coin built on Ethereum 2.0 blockchain with ERC-20 contract. Rather than referring directly to a specific meme, it takes a different approach. It is based on an adorable mascot monkey with a bag full of cash and the monkey trying to reach the moon and beyond. The official website advertises the mascot’s journey to “engineer a new pathway to financial freedom.”
Token Allocation
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MBAG has a total allocation of 96.33 billion tokens. 40% of the tokens have been allocated for the public presales, 25% for staking and 20% for liquidity. Whereas 5% of the tokens have been allocated to each of the following: community incentives, the referral system, and the team. The tokens allocated to the team have been locked for a period of one year to demonstrate commitment of developers to the project.
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Presale Stages & Price of MoonBag
Lately, the tech savvy investors have shifted their focus to meme coins due to their exciting and rewarding nature especially on the new coins by investing in the presales or at early stages.
MBAG is a multi-stage Initial Coil Offering (ICO) with 11 stages of presales. According to the official website, the coin has started its seventh stage of presale, raising over $3.6 million so far.
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The presale stage one price was $0.00002 and the price continues to rise with each presale stage. The current price stands at $0.0003 and if the hype of MBAG continues the same, the experts predict that it will hit $1 by the end of this year or early 2025.
Salient Features
- MoonBag advertises it to be tax free, so that investors and customers can freely trade without the burden of tax.
- There is an option of staking for presale participants, who can lock their tokens to earn at least 88% APY. This feature prevents pump-and-dump losses at the launch.
- The referral program offers free crypto rewards of up to $500.
- MoonBag is attracting investors with a post-launch 9900% ROI for presale customers.
- The whitepaper of the project states that it has dedicated all the injected liquidity to its buyback and burn system to avert sudden price volatility.
- Due to its deflationary model, there will be steady and gradual increase in price.
Real-Life Projects
Ideally speaking, ICOs fund the development of real-life projects that either solve problems or offer unique features. The whitepaper and the official website do not indicate any association with any real-life project with functioning applications. Absence of this aspect reflects the absence of a long-term and sustainable ecosystem of MoonBag.
Despite current market conditions, MoonBag has so far been strong and has shown consistent growth. Only time will tell whether this ICO is a legitimate cryptocurrency or a monkey business.
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Hamza Malik
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