2024-3-10 10:39 |
Meme coins have done well this year, as most of them outperformed Bitcoin and Ethereum. Data shows that all meme coins are now valued at over $60 billion, making them bigger than well-known companies like Munich Re, British American Tobacco, Marvell Technology, and NXP Semiconductors.
Therefore, many investors are hunting for more meme coins to invest in to take advantage of the ongoing rally. In this case, Memeinator, which I will explain about below, may be one of the top meme coins this year.
Meme coins are thrivingMost of the focus in the cryptocurrency industry was on Bitcoin, which surged to its all-time high. This was a major milestone considering that Bitcoin was trading at below $1 15 years ago.
However, the real action was happening in the meme coin industry, where tokens like Pepe, Floki, dogwifhat, Bonk, and CorgiAi have surged. Most of these tokens jumped by more than 100% this year.
These tokens do well because of their low price compared to Bitcoin. Pepe trades at $0.00000089 while tokens like Floki and Bonk trade at $0.00023 and $0.000032, respectively.
In this case, traders are able to generate more returns investing in these meme coins compared to big-cap coins like Bitcoin. For example, a person with $100 can buy millions in tokens and benefit as their prices jump.
Also, the possibility of Bitcoin doubling from $69,000 to $138,000 is possible but will take a longer period. In contrast, it takes a shorter period for these meme coins to double, especially when Bitcoin is doing well.
Therefore, there is a likelihood that meme tokens like Floki, Shiba Inu, and Pepe will continue rising in the coming months.
Memeinator could benefitThis trend may benefit Memeinator, one of the upcoming meme coins in the market. The developers have raised over $6.1 million in the past few months. Thousands of investors have allocated their cash to the coin, making it one of the best-performing token sales this year.
Memeinator could be the next big thing in the cryptocurrency industry if the crypto bull run continues.
That’s because the developers are targeting three fast-growing industries. They are hoping that it will become the next big meme coin. Further, they are positioning it to be the next gaming and artificial intelligence (AI) asset.
Gaming tokens like Axie Infinity, Decentraland, and Ronin have surged recently. Similarly, AI assets like Fetch.AI and SingularityNET have outperformed the broader market.
Therefore, while it is too early to tell, there is a likelihood that Memeinator will do well because the developers aim to make it a major player in these industries. However, it is always risky to invest in presale tokens. Therefore, investors should always allocate funds that they can afford to lose and embrace the best risk management strategies. You can buy the Memeinator token here.
The post Missed Floki, Pepe, and Bonk? Memeinator could be the next big thing appeared first on Invezz
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