Monat: November 2023

• Meme coins like Bonk, Pepe, and MEME have surged in the past few weeks.

• Their rally mirrors that of other coins like Bitcoin and Ethereum. 

• Memeinator could grow to become the next big thing in he industry.

Meme coins have made a strong comeback lately. Bonk, the Solana meme coin that became prominent in January, surged to a high of $0.0000034, which was over 1,850% from the lowest level this year. Its market cap has jumped to over $121 million. 

Memecoin (MEME) has also surged by more than 2,770%, giving it a market cap of over $198 million. It has done well even though its website states clearly that it has no use. It has no utility, no roadmap, and no expectation for financial returns. 

Pepe token has jumped by over 480% from the lowest level this year. Like the other two, Pepe’s market cap has jumped to over $474 million. Dogecoin and Shiba Inu have a combined market cap of over $16 billion. 

This performance means that meme coins are now finally back even though most of them have no intrinsic value. Shiba Inu’s plan to create its utility through its Shibarium launch seems like it has not done well. Similarly, Floki Inu’s ecosystem is not doing as well as expected.

Memeinator could be the next thing

Memeinator (MMTR), a new meme coin, could be the next big thing in the crypto industry. This explains why the meme coin has raised over $1.4 million in the past few months. And the trend is improving at a fast pace.

Memeinator’s success is mostly because of the increasing use of social media and digital advertising in the ecosystem. Also, the developers have created a unique competition where the lucky winner will get a Virgin Galactic ticket to go to space. That ticket is valued at over $250k and over 355k entities have been made. 

Memeinator has also partnered with other big players in the crypto industry, including the biggest websites in a bid to boost its awareness. The goal is for it to become popular and raise cash during this token sale ahead of the next token listing.

We have seen many new meme coins go vertical and become the largest part of the crypto industry. Some of the most popular recent ones are Bonk, Memecoin, and Pepe, which have created hundreds of millionaires in the past few months. You can buy the MMTR token here.

There are a few reasons why the MMTR could become the next big thing in the crypto industry. First, unlike other tokens like Pepe and MEME, Memeinator has a name recognition. Its Twitter, Discord, and TikTok users are growing very fast.

Second, the meme coin is also infusing with artificial intelligence (AI), which is one of the biggest industries in the world. Today, ChatGPT is valued at over $80 billion, making it one of the top companies in the world. 

Finally, market conditions are supportive of cryptocurrencies as Bitcoin and other cryptocurrency prices jump and as Federal Reserve prepare to cut rates in 2024.

The post As Bonk, Pepe, Memecoin token prices rise, Memeinator gains traction appeared first on CoinJournal.

• Cryptocurrencies have outperformed stocks and commodities this year.

• Most coins, including Bitcoin and Ethereum have jumped by over 100$%. 

• The Shiba Memu token sale is accelerating as demand rises.

Cryptocurrencies have been the best-performing assets this year. Bitcoin price has jumped by more than 120% this year while the tech-heavy Nasdaq 100 index and gold have soared by 48% and 10%, respectively. Other smaller coins like THORChain (RUNE), Injective (INJ), and Solana have risen at a faster pace.

Why the crypto bull run is happening

There are three main reasons why the crypto bull run is happening. First, Bitcoin has jumped because of the ongoing trend known as TradFi, which happens when companies in traditional finance move to the crypto industry. 

The most notable of these companies are big players like Blackrock (the biggest asset manager in the world), Invesco, Ark Finance, and Fidelity have all filed for a spot Bitcoin ETF with the Securities and Exchange Commission (SEC).

Additionally, other companies like the London Stock Exchange (LSE), ANZ Bank, and JP Morgan have all embraced the concept of tokenization. Tokenization is a process where companies transform Real World Assets (RWA) into digital tokens. 

Second, there is a possibility that the Federal Reserve has done hiking interest rates. It has left rates unchanged in the past two meetings and officials have pointed to maintaining status quo. 

The most recent economic data showed that the country’s inflation dropped from 3.7% in September to 3.2%. Core inflation retreated to 4.0%. And with the labor market softening and crude oil prices falling, there is a likelihood that the bank will not hike rates again. In a recent note, analysts at UBS hinted that the bank will start cutting rates in 2024.

Further, bitcoin supply is falling, with supplies in exchanges falling to the lowest point in over five years. This is happening a few months before halving happens. Therefore, a combination of higher Bitcoin demand and low supplies will likely push prices higher. 

If this happens, Bitcoin price will likely soar, which will lead to more demand for other altcoins like Ethereum and Solana.

Shiba Memu is doing well

Meanwhile, Shiba Memu, a crypto meme coin that has some artificial intelligence (AI) features, is doing well. According to its website, the developers have raised over $4.5 million from global investors. You can buy the token here.

Shiba Memu aims to change the meme coin industry by creating a platform that has AI features. Some of the top features that the platform will have include natural language processing (NLP), sentimental analysis, video and audio recognition, and predictive analysis.

Shiba Memu will use these AI features to boost its marketing, which the developers have claimed will be automated. Therefore, they hope that Shiba Memu will be much better than Shiba Inu and Bonk.

SHMU token will likely do well if the crypto bull run continues. Recently, we have seen many meme tokens bounce back. Floki Inu’s price has jumped by more than 100% this year while Bonk and Memecoin have become multimillion-dollar tokens. Other popular meme coins are Pepe and Taboo Token.

Historically, meme coins tend to do well when there is a strong crypto rally. For example, Shiba Inu became a major player in the industry as Bitcoin surged to its all-time high. 

The post The next crypto bull run is here: Time to bet on Shiba Memu? appeared first on CoinJournal.