- Memecoin (MEME) price spikes 28% as interest in meme after Binance listing increases.
- But amid the war of the meme coins – where’s the utility?
- Is the Memeinator (MMTR) presale performance bad news for Memecoin (MEME)?
As Bitcoin and Ethereum prices hover just below key resistance zones amid the latest exchange-traded fund (ETF) news, a few altcoins are benefiting as indicated by their notable gains in the past 24 hours. Filecoin (FIL), Optimism (OP) and Celestia (TIA) top the performance charts in the top 100.
Elsewhere, Memecoin (MEME), which got a massive boost when Binance listed it last week, is up 28% to outperform other meme tokens. This comes as on-chain data suggests whale interest in MEME is surging, with the likely airdrop of 2.35 billion MEME tokens driving prices higher.
But will Memecoin (MEME) be among those wiped off the face of the meme world? Let’s have a look.
What is Memecoin (MEME)?
Memecoin (MEME) is an ERC-20 token launched by Memeland, a Web3-focused venture platform. The project’s developer team is also behind 9GAG, the online platform for memes sharing popular with gamers.
MEME has a total supply of 69 billion and while it is seeing huge interest amid its Binance listing, it’s upside may be hampered by the fact that it’s a typical low utility meme token. It might not offer anything different from the tokens that currently drench the market.
This means a project with far more utility could find greater traction, which is what the Memeinator (MMTR) team is eyeing after its hot presale.
What is the Memeinator?
Memeinator is a new ERC-20 meme coin that comes with a mission – to rid the cryptocurrency space of all the punny meme tokens. The native MMTR has a total supply of 1 billion tokens, with 85% currently offered to early backers via a token presale.
Per the official presale page, Memeinator has raised more than $1.3 million just weeks after its launch.
What makes the Memeinator (MMTR) unique?
The proliferation of purely speculative meme tokens means a lack of utility remains the bane of most projects in this space. Many tokens are copycats of the OG meme coin Dogecoin, offering no other value proposition to the community other than hype.
The Memeinator does not want to become just another Dogecoin or Shiba Inu type meme coin. Rather, the goal is to help strengthen the sector by eliminating all the weak meme tokens as part of the mission to reach a $1 billion market cap.
By offering what wannabe Dogecoin competitors do not – real utility and value to the community – the Memeinator is positioning itself for possible dominance. While artificial intelligence tools work in the weaponry aimed at worthless meme tokens, additional value will come to the community via staking and yield farming.
On top of a highly anticipated NFT offering will also be an action game powered by Memescanner, an AI-enabled tool that will search the internet for every puny meme token. As noted on their official presale page, annihilating these rivals will bring the Memeinator closer to its goal of being the “meme coin to rule them all.”
Memecoin (MEME) price prediction
Binance is the world’s largest cryptocurrency exchange by trading volume and listing of the Memecoin token could be a massive boost. The Memeland project’s native token first landed on the Binance Launchpool on October 27 before going on to list for trading a week later.
The trading support coincided with cryptocurrency’s recent surge, helping MEME to it’s all-time high of $0.02877652 on November 3. Today, the token trades around $ 0.02746376, up 28% in the past 24 hours at the time of writing. It’s just shy of the all-time high of $0.02877652 reached on November 3, 2023.
Given bull market predictions, its likely MEME price could target $0.5 before the end of the year and possibly $0.5-$1 in 2024.
Memeinator (MMTR) price prediction
As noted above, the Memeinator looks to not only cleanse the memesphere of useless coins, but also capture a $1 billion market cap. Achieving this would require the price to rise to $1. Although not an easy task given the market dynamics, the presale hints at what’s possible.
Analysts are underlining the speed at which the Memeinator’s presale is progressing as a potential signal of huge investor confidence in the project. Having this outlook ahead of a likely explosive bull market catalysed by Bitcoin halving and ETF approval suggests the current MMTR price of $0.0133 could be a huge bargain down the road. The forecast could be similar even for those who get in at the final presale price of $0.0485.
If projects like Shiba Inu and Pepe managed to cross the $1 billion mark riding on hype, then Memeinator’s tokenomics and utility puts it in pole position in the race to be the next billion-dollar meme token.
You can learn more about Memeinator here.
