Cryptocurrencies are reveling in a new buoyant mood as investors see what looks like the beginning of a major bull rally strengthening.
Investors looking to tap into the available opportunities are eyeing the most promising projects. Meme coins are likely to be one of the best portfolio diversification strategies. Floki (FLOKI) and Pepe (PEPE) are rallying while Memeinator (MMTR) is getting into the final stages of a presale that has raised more than $5.2 million.
Bitcoin spikes to $60k
Bitcoin’s breakout to $60,000, its highest level since November 2021 when BTC price retreated from its all-time high above $69k, has the crypto market abuzz.
Driven by spot Bitcoin ETFs, halving sentiment and the global macro picture, Bitcoin could soon eclipse that 2021 peak. At the time of writing, BTC price hovered above $60,500.
Historically, and the past few months have shown that, altcoins have followed these rallies.
FLOKI, Pepe, surge as meme coins hit $28 billion
With the global crypto market cap at $2.36 trillion, the surge to $28 billion for meme coins suggests this is still a small market segment. However, it also means the potential for growth is huge. In this context, recent spikes FLOKI, Pepe and other meme coins may extend into the bull market.
For FLOKI, the price rally also comes amid a new $10 million boost by digital asset market maker and investment firm DEF Labs.
According to the FLOKI team, DWF Labs will buy $10 million worth of the meme coin over the next two years. This adds to the $5 million investment the firm announced in May 2023 and points to a growing belief in the FLOKI ecosystem.
The price of the FLOKI token could see further gains and strengthening as its ecosystem grows. The pivot from a pure speculative meme coin to an ecosystem potential for real utility is a metric to watch for this project.
Pepe (PEPE) on the other hand has also soared as whale activity rose over the past few weeks. On Wednesday, the meme coin jumped 60% to spark some profit taking deals.
While price has risen more than 200% in the past week, the token’s lack of inherent utility beyond meme speculation, might see struggle to hold onto the lofty ground above Bonk (BONK).
Memeinator (MMTR): A meme with real utility
Memeinator is a new meme-inspired crypto project currently in presale. With over $5.2 million raised as it nears the end of its token sale, the Memeinator stands poised for potential dominance in the meme coin industry.
Unlike most meme coins, this blockchain and artificial intelligence (AI) powered project offers genuine utility via its native token MMTR. Gaming, NFTs and the meme culture are at the core of this project from the start.
Getting the community to rally around the project is thus based on the real value that is available, not the speculation and fleeting hype of a celebrity or other influencer.
This outlook for the Memeinator has analysts predicting it could grow into a dominant player, not just in the meme coin sector, but also across the blockchain gaming space.
To learn more about Memeinator, go to their website or join the community on X and Telegram.
