- Dogecoin, Shiba Inu and Pepe have recorded major gains in the past 24 hours, rising as Ethereum broke above $2.6k.
- Memeinator was seeing huge interest as its presale shot past the $3.3 million mark.
- Crypto market is upbeat after spot Bitcoin ETF approval, which has seen BTC price cross above $47k.
Bitcoin (BTC) is back on the upside track after the US Securities and Exchange Commission (SEC) approved 11 spot Bitcoin exchange-traded funds (ETFs) for trading. After a dip to lows of $45k on Wednesday, the top crypto has surged 4% to break above $47,000 again.
Meanwhile, meme coins Dogecoin, Shiba Inu and Pepe are trending higher as altcoins gear up for altseason. Investors are also pouring into the Memeinator (MMTR) presale, which has raced past the $3.3 million mark.
Bitcoin ETF approval could spark global crypto adoption
Today’s BTC gains come as listed BTC ETFs prepare for the first day of trading. BlackRock’s iShares Bitcoin ETF (IBIT) saw a remarkable $2.1 million volume in premarket trading as ETF analyst Eric Balchunas predicted this could turn out to be a historic day in terms of first day ETF shares’ volume.
Meanwhile, experts say the approval of the ETFs could spark fresh demand across the market, with various coins seeing significant upside momentum. Tron founder Justin Sun noted in a post on X that SEC’s decision could see Asian and Chinese markets embrace the opportunity.
“The approval of the Bitcoin ETF in the United States demonstrates that the trend of cryptocurrencies is unstoppable. In the near future, Asian and Chinese 🇨🇳markets will also embrace this opportunity, and Bitcoin will eventually reach the world’s eight billion people,” Sun wrote.
Dogecoin, Shiba Inu surge as Memeinator presale accelerates
As BTC climbed above $47k, the broader altcoin market mirrored Ethereum’s spectacular jump to highs above $2,600. The optimism also seeped into the meme coin world, with top tokens seeing double digit gains early Thursday.
At the time of writing, Dogecoin, Shiba Inu and Pepe had gained 10%, 12% and 24% respectively in the past 24 hours. Solana-based meme coin Bonk had also climbed double digits as the market reacted positively to the news of SEC’s approval of spot Bitcoin ETFs.
Meanwhile, the presale market was heating up as investors look to hedge positions with bets on promising projects. A top trending project in this space is Memeinator (MMTR), the new meme coin whose presale is now 60% sold.
After recently surpassing the $3 million milestone, MMTR is less than 400k tokens away from smashing past stage 12. Its presale raise has hit $3.3 million. The incredible interest witnessed means the meme project could soon launch, hitting the market amid perfect conditions for a bull run.
The Memeinator’s deflationary token mechanism, utility and community stand out from other meme coins bidding to take the market by storm in 2024 and beyond. Currently, Memeinator’s token is priced at $0.0186.
Could MMTR challenge current top meme coins? Find out more about this project’s utility and tokenomics from their whitepaper. More details are also available on the presale page.
