Gala, Axie Infinity, SAND, MANA rises as Memeinator Thrives

Meme coins and gaming cryptocurrencies have thrived during the ongoing crypto bull run. Pepe, the recently launched meme coin, has surged by more than 80% from its lowest level in October. This rally makes it one of the top-performing cryptocurrencies.

Other cryptocurrencies in the gaming industry have also rebounded. Gala token surged to a high of $0.02200, the highest point since August 14th. It has soared by over 72% from the YTD low. Similarly, Axie Infinity (AXS) and Decentraland (MANA) have soared by more than double digits in the past few weeks.

This rally is in line with the performance of other cryptocurrencies. Bitcoin has surged from last week’s low of $24,800 to over $34,000. Similarly, Ethereum price has roared back to over $1,800. Other top-performing cryptocurrencies are Injective (INJ), Storj, Internet Computer (ICP), and Render have surged.

Spot Bitcoin ETF hopes

Bitcoin and other cryptocurrencies have done well in a difficult period in the financial market. While these coins have soared, American equities and bonds have plunged. 

The S&P 500 and Nasdaq 100 indices have plunged to the correction zone while the 30-year and 10-year bond yields have soared to the highest levels in years.

The main reason for the rally is the ongoing hope that the Securities and Exchange Commission (SEC) will approve the next Bitcoin ETF. Companies like Franklin Templeton, Blackrock, and Invesco have all made ETF proposals.

Analysts believe that a spot Bitcoin ETF will unlock more inflows to Bitcoin as institutional investors allocate some of their capital to Bitcoin, which has outperformed gold in the past decade.

Bitcoin has also rallied as investors remain concerned about the rising US debt and bond yields. The US has raked in over $33.6 trillion in the past few decades. With bond yields rising, the US is now spending over $800 billion in debt repayments.

Therefore, there is a sense in which investors believe that Bitcoin is a safe haven, since it is often seen as a digital alternative to gold.

Memeainator token sale continues

Meanwhile, the recent Pepe token rally has sent many investors to alternative meme coins. Besides, Pepe has come from nowhere to reach a market cap of over $470 million. Along the way, the meme coin, which has no real use, has created many millionaires.

One of these tokens is Memeainator, an upcoming meme coin that aims to be the best tokens in the industry. While it is a meme coin, developers aim that incorporate artificial intelligence will be of use. 

Demand for this token is growing, as evidenced by its token sale. The developers have already raised over $949 million and they are quickly approaching their initial target of over $1.2 million. You can buy the MMTR token here and read its detailed white paper here.

In the future, the developers aim to build an entire ecosystem made up of a gaming and NFT trading platform.