AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Bitcoin (BTC) price reached a high of $30,988 on crypto exchange Bitstamp on Monday as the leading cryptocurrency managed a weekly close above the $30k level for the first time since mid-July. Elsewhere, Ethereum, Chainlink and Solana soared as top altcoins benefited from a dose of bullish sentiment across the crypto market.
Amid the market exuberance seen over the past week, the Memeinator (MMTR) has made waves of its own in the meme coin world. Launched just a few weeks ago, the project that intersects crypto and artificial intelligence has raced through three of its token sale stages
Altcoins soar as BTC bulls target YTD high
Bitcoin above $30k sees bulls facing a long-term resistance level marked by the year-to-date high of $31,862 registered on July 10. BTC retreated from the supply wall in two previous attempts in April and July, and the latest outlook suggests bulls could struggle to break it.
However, market analysts say the flagship crypto is building momentum that could see it explode past the level in a bull market likely catalysed by a spot Bitcoin ETF approval and the BTC halving in 2024.
As Bitcoin primes for an assault on the $31k hurdle, analysts are pointing to notable gains for several top altcoins. Unlike in previous breakout phases for BTC where alts lagged, this time is seeing several of them outperform. Other than Ethereum, which broke above $1,700, Chainlink, Solana, Polygon, Aptos and Aave have recorded significant moves.
While profit taking deals are likely to exert pressure on buyers, the likelihood of upside continuation for Bitcoin in coming months has the market excited for what’s possible in the next bull market. And that has investors looking to position themselves appropriately, including joining potentially outstanding projects currently conducting their token sales.
The Memeinator takes centre stage in crypto presales
Meme coins saw a dip in fortunes in the summer, after the likes of Pepe recorded parabolic rallies to ignite a wave of new meme projects. Many simply copied Dogecoin, Shiba Inu and Pepe, which remain the top dogs and frog inspired meme coins in the market. But the memesphere is awash with numerous below-par meme tokens, and the Memeinator whitepaper envisions a community-driven project that will be “the meme coin to rule them all.”
To do that, the AI-powered meme will seek out and destroy all the dogs and frogs that it deems weak and to have “had their day.”
If the Memeinator delivers on its project roadmap as judgement comes to the meme coin world, early backers may have bagged a great gem in the long term. This is because the Memeinator will leverage its suite of AI tools to bring additional utility to the MMTR token. While many of the would-be meme rivals fail, MMTR holders will tap into extra alpha via features such as staking rewards and gaming utility.
The positive perspective for the project could be down to a resurgence in play-to-earn (P2E) and bullish forecasts for crypto overall. Other the token’s listing on major exchanges, demand and upside boost could come with the release of the Memescanner and Meme Warfare game
Currently, stage 4 has MMTR priced at $0.0118, with over $817k raised. The massive interest witnessed in the nearly sold out stage suggests it won’t be long before Memeinator storms past the $1 million presale milestone. Crypto ethusiasts eyeing the next meme gem can look at Memeinator, whose presale offers 62.5% of the total supply.
Learn more about the Memeinator here.
The post The Memeinator, top altcoins surge as Bitcoin eyes $31k appeared first on Invezz
