- The Memeinator presale continues to attract attention with over $1.7 million raised so far.
- Meanwhile, the crypto market is looking to sustain current upside momentum led by Bitcoin.
- If Memeinator launches as projected, three catalysts that could help MMTR soar could come into play.
The total cryptocurrency market cap continues to hover above $1.6 trillion as Bitcoin holds above $43k and top altcoins like Ethereum, XRP, Solana and Cardano eye a leg up to end the year on a high. And as Bitcoin and mega cap altcoins look positive, investor attention on meme coins is rising.
Meanwhile, Dogecoin, which traded above $0.1 earlier this week is hovering below this psychological level. However, its performance over the past week, like that of Bonk, Pepe and Shiba Inu, suggests the market is eyeing meme coins once again.
As analysts predict a potential bull market in 2024, could the Memeinator be one of the stand out performers? Here are three likely catalysts for MMTR in such a scenario.
What is Memeinator?
Memeinator (MMTR) is a meme coin project that is designed to utilise the traction that comes with a community-driven fun token to deliver an AI-powered KO to puny meme tokens.
According to its whitepaper and roadmap, the project will do while offering real utility to the community via the native MMTR token. As highlighted, the Memeinator’s plan is to reach the $1 billion market cap by blending key utility features with the meme culture.
If the project turns out as it is outlined in the whitepaper and it sees community adoption as suggested by the presale, then it could become one of the breakout investment opportunities for 2024 and beyond.
Memeinator price outlook – three catalysts in 2024
Memeinator’s tokenomics
Unlike most meme tokens, the Memeinator has a whitepaper, a team and a roadmap. It highlights tokenomics that could make it one of the top meme coins. Instead of minting trillions of tokens and lumping them to a few whales, the Memeinator’s total supply is capped at 1 billion.
Also, other than offering 62.5% of the total supply of 1 billion to the community, the project outlines a deflationary token model. This means tokens will regularly be removed from circulation via a burn mechanism. In a recent update, the Memeinator team announced that 129 million MMTR had burned as the presale stages reduced from 29 to 20.
The burn mechanism, like a buyback strategy, works towards the principle scarcity – which in many cases ties in with the potential for a token’s value to rise over time as demand increases and supply shrinks.
AI and gaming narratives could be big trends
This week, venture capital firm Andreessen Horowitz (a16z) shared a list of its big ideas for 2024. Among them are AI, crypto, NFTs and gaming. The AI narrative came to the fore in 2023, with major upside for mainstream companies as advancement in the sector informed forecasts.
While regulation and other issues get sorted, investors are convinced this sector could be a big player not just in the mainstream but also crypto. Gaming is also a big narrative.
Could the Memeinator’s integration of AI in its “Memescanner” and the gamification of its core objective into “Meme Warfare” game be crucial? Given the potential for play-to-earn, this could offer a big boost to a meme coin as it adds the MMTR’s utility, which is what most meme tokens lack.
Bitcoin’s potential bull market and meme coins
As the cryptocurrency market eyes the traditional Santa rally, there’s palpable excitement as to what could happen in the next one to two years. Notably, sentiment around approval for the first spot Bitcoin ETF in the US is as bullish as it has ever been as the year comes to an end.
Analysts are pointing to reports that the US Securities and Exchange Commission (SEC) has positively engaged with BlackRock and other applicants. It’s as an indicator that a spot Bitcoin ETF could hit the market early next year, with the probability of this not going past Q1 high.
If this happens, experts predict a major inflow of institutional money as more people seek the exposure to the crypto asset class. With more people buying Bitcoin, it could be the flagship crypto asset’s biggest bull cycle yet. With this, the historical correlation with altcoins cannot be discounted.
Meme coins too will crash the party and with Memeinator set to launch in the first half of 2024, perfect market conditions could be why MMTR price mirrors such spectacular returns as seen with Pepe and Bonk.
Conclusion
While the Memeinator is a meme token that remains in presale, there are several factors that could see it stand out from its peers when it finally launches. The project’s tokenomics, offering of genuine utility and likely community support are strong features. That, combined with potential big trends for crypto, gaming and AI as well as broader bull market predictions, could be significant catalysts for Memeinator.
If you are interested, you can check out its presale page for how to buy.
