Monat: November 2023

• VGX surges 20% post-30% token burn.
• 52 million VGX tokens were sent to a burn address.
• The burn event comes as Voyager manoeuvres its Chapter 11 bankruptcy.

In a surprising turn of events, the native token of Voyager Digital, Voyager Token (VGX), witnessed a remarkable surge in its price, gaining 20% in value, following the transfer of 52 million tokens to a burn address.

The VGX token price had however started going down, at press time as seen in the chart below.

30% of VGX token supply bunt

On-chain data from Etherscan shows that the wallet in question is linked to Voyager and was named “Voyager 1.” It had remained dormant for 225 days.

This wallet suddenly came to life, initiating a test transaction of 123.45 tokens before proceeding to transfer a larger batch valued at $7.3 million.

This substantial transfer was directed towards a burn address, a cryptocurrency wallet where tokens are rendered inaccessible, essentially eliminating them from circulation.

Voyager’s troubled past

Voyager Digital’s recent history has been marked by turbulence, with the company filing for bankruptcy following the collapse of FTX, a cryptocurrency exchange that was in discussions to acquire Voyager before its abrupt implosion. The repercussions of FTX’s troubles extended across the cryptocurrency market, leading to a widespread downturn.

It remains unclear why Voyager decided to send such a significant portion of VGX tokens to a burn address. However, this move could have multiple implications in the crypto space.

Token burns are often employed to reduce the total supply of a cryptocurrency, creating a sense of scarcity and, in turn, potentially bolstering the value of the remaining tokens in circulation. The market’s response to this event was notably positive, with VGX witnessing a 20% price increase, reflecting investor optimism regarding the potential value appreciation due to the reduced supply.

Voyager Digital had earlier announced that it intended to liquidate assets in relation to its ongoing financial difficulties and its strategy to manage assets and liabilities within the context of its bankruptcy proceedings.

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Key takeaways

• Shiba Memu’s presale is now closing in on the $4.5 million mark.

• Bitcoin is trading close to the $35k level once again as bulls continue to stay in charge. 

The cryptocurrency market has been in a bullish mode over the last two weeks, with Bitcoin and other altcoins rallying higher. Shiba Memu’s presale continues to push forward, with more than $4.3 million raised so far. 

Bitcoin targets $35k

Bitcoin, the world’s leading cryptocurrency by market cap, is up by less than 1% in the last 24 hours. At press time, the price of Bitcoin stands at $34,796 per coin. The broader market has been performing excellently over the last two weeks. 

The total cryptocurrency market cap is now above the $1.2 trillion mark. Altcoins have also been rallying over the last couple of days. 

What is Shiba Memu?

The broader cryptocurrency market has been rallying over the last few days, and Shiba Memu’s presale has also attained new milestones. The project is now approaching an important milestone and could be achieved over the next few hours or days. 

Shiba Memu is a meme token project that wants to help individuals and entities handle marketing campaigns. Shiba Memu will leverage blockchain and AI to offer marketing services to users.

Currently, the project is still in its presale stage, and investors have already poured in millions of dollars. Shiba Memu has now raised nearly $4.4 million. 

According to the team, Shiba Memu will leverage blockchain and AI to develop an unstoppable, entirely self-sufficient marketing powerhouse. With this platform, users can carry out a wide range of marketing activities. 

As an AI-powered platform, Shiba Memu will be active 24/7. Furthermore, the platform can identify ideal creative scenarios and develop excellent marketing campaigns for users.

Shiba Memu is launching as a meme token to take advantage of the hype around meme projects. Meme coins have become important in the crypto industry, growing from a market cap of $0 in 2019 to $35 billion in 2023. 

Shiba Memu is offering utility to users, making it a better alternative to some of the thousands of meme coins available. The Shiba Memu AI technology will help users develop their marketing strategies, write their PRs, and promote their services and products on relevant forums and various social media platforms. Currently, the project is available on the BNBChain and Ethereum blockchains. 

Shiba Memu’s presale nears $4.5 million

The broader crypto market has been bullish over the last two weeks thanks to spot Bitcoin ETF optimism. Investment in Shiba Memu continues to increase as more investors troop in. 

The project has raised $4.359 million so far. At this rate, Shiba Memu could hit the $4.5 million mark soon. The team will use the funds to develop its AI technology and a suite of other products. 

Click here to find out more about Shiba Memu’s presale event. 

Should you invest in Shiba Memu now?

Shiba Memu could be an excellent project thanks to its unique approach to the market. The token could gain massive adoption over the coming months or years, and that could see its price soar higher. 

The platform helps users to handle marketing campaigns with ease. Its SHMU token could rally higher in the coming months and years following its listing on cryptocurrency exchanges. 

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Key takeaways

• Bitcoin continues to trade above $34k as altcoins rallied in the last few days.

• Memeinator has now generated more than $1.1 million, with its stage five presale coming to an end soon.

The cryptocurrency market has been bullish over the last two weeks. Bitcoin rallied above the $35k level earlier this week before slightly retracing. With altcoins also rallying, Memeinator’s presale continues to attain new milestones.

Bitcoin and altcoins rally

Bitcoin and altcoins performed well over the last few days. Bitcoin rose by more than 20% in October, its best performance since January 2023. The rally saw Bitcoin reach the $35k level for the first time in nearly 17 months.

Altcoins such as Solana and Near also rallied higher. PEPE and FLOKI were the best-performing meme tokens over the last few days. With meme coins performing well, Memeinator also reached new milestones. 

What is Memeinator?

Memeinator is a Web3 project that seeks to change how people view memes. The project wants to leverage the hype around meme coins by providing users with numerous use cases.

The project wants to destroy worthless memes, ensuring that there is a higher level of quality content available to users. Memeinator wants to stand out in a crypto space that is filled with thousands of meme tokens with no utility. 

Memeinator will use AI  to identify worthless memes, allowing users to know them and steer clear of them. The team are working to ensure that Memeinator attains a market cap of at least $1 billion, turning it into one of the biggest meme coin projects in the crypto space. They have also published a detailed roadmap that shows how Memeinator will reach the $1 billion market cap. 

The Memeinator presale is now in its fifth stage, and the project has raised more than $1 million. In the first presale stage, the MMTR was sold for $0.01, but it has been increased to $0.0125 in the current stage. The price will rise to $0.0485 by the end of the presale, giving early investors a whopping 132% ROI at listing. 

Memeinator’s stage five presale nears completion

The Memeinator presale will round up its fifth stage over the next few hours or days. So far, the team has raised more than $1.1 million of its $1.21 million target.

Investors who wish to get in on this project can buy the Memeinator token (MMTR) using ETH, USDT and USDC stablecoins. At the moment, the token is available to users on the Ethereum and BNChain blockchains. 

It is easy to buy the MMTR token as users only need to connect any of the supported wallets to the Memeinator website and buy the tokens using ETH, USDT and USDC coins. 

Click here to read more about the Memeinator presale.

Why is the Memeinator presale attracting investors?

Memeinator is getting attention from investors thanks to its real-world use case. MMTR is the native token of the ecosystem and will power several activities on the platform. 

Thanks to its utilities, Memeinator could gain massive adoption from degens, crypto natives, and speculators. The project has use cases beyond the crypto space, as content creators could use its services to gain access to quality memes. 

The platform will take advantage of AI to analyse and evaluate memes across the internet, identifying lower-quality memes to replace or destroy them. 

Its native token, MMTR, comes with some excellent features. The token has deflationary mechanisms and rewards for holders. Furthermore, the team has allocated 20% of the tokens for marketing, CEX listing and liquidity. 

Is the Memeinator a good buy? 

Memeinator could be an excellent meme project, thanks to its exciting utilities. If it gains the right level of adoption, the early investors would be the biggest winners. 

This project will be leveraging AI and blockchain technology to provide excellent value to investors over the coming months and years. If Memeinator reaches a billion-dollar market cap, early investors would be the biggest winners. 

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