Bitcoin price has done well this year as it jumped by more than 166% from its lowest point in December 2022. Other big tokens like Solana, Avalanche, and Immutable have done even better as they rose by over 200%.
However, meme coins like Pepe and Bonk have been the best-performing players in the crypto industry. Bonk the Solana meme coin launched in December, has surged by more than 6,000% from the lowest point in 2023, pushing its total market cap to over $732 million.
Pepe, a new meme coin launched a few months ago, has a market cap of over $575 million. This means that many people have become millionaires by investing in these two tokens, which have no utility.
It also means that meme coins are not dead yet as most analysts were expecting. Indeed, coins like Shiba Inu and Dogecoin have a combined market cap of over $19 billion. This makes them bigger than some of the best-known companies in the world like Deutsche Bank, Zillow, and AllianceBernstein.
Memeinator could be the next big thing
Memeinator, an upcoming cryptocurrency, could be the next big thing in the meme coin industry. The project, which is still in the presale period, has already raised over $1.9 million in the past few months. If this trend continues, the meme coin will get to its target of over $2.1 million in the next few weeks.
Memeinator has achieved this success because of the ongoing crypto rally that has pushed the combined market cap of all digital coins to over $1.6 trillion. It has also raised these funds because of the incentives offered by the developers.
For example, they have launched their staking platform that offers an APY of 45%. Over 7.1 million tokens have been staked and over 36,517 rewards paid out. This is a strong performance for a service that was launched recently. Over 21.5 million $MMTR tokens.
The other reason why Memeinator has done well is because of its promotion that will see a lucky person win a trip to space using Richard Branson’s Virgin Galactic product. That trip alone will be worth over $250k. You can buy the Memeinator token here.
AI and meme coin trends
Memeinator aims to be a successful cryptocurrency by combining the concept of meme coins and artificial intelligence (AI). Meme coins have jumped sharply while AI has been the biggest theme in the market this year. AI companies like ChatGPT and Anthropic have become multi-billion dollar entity this year.
There are several reasons why Memeinator token will likely do well in 2024. First, from a macro level, central banks are set to start cutting interest rates in 2024, which is a good sign for the crypto industry.
Second, Bitcoin is set to continue rising ahead of the halving event scheduled for April 2024. In most cases, BTC tends to do well ahead of the halving event. Altcoins do well when Bitcoin is rising.
Finally, there is a high possibility that the Securities and Exchange Commission (SEC) will approve a Bitcoin ETF.
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