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Crypto bull run gains steam as the Memeinator token sale continues

By:  & 
on Feb 29, 2024
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  • Memeinator has raised over $5.2 million in its ongoing token sale.
  • This sale is booming as the crypto bull run gains momentum.
  • Bitcoin has surged to over $64,000 while the total market cap has risen to $2.2 trillion.

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The crypto bull run gained momentum this week as a sense of greed spread in the financial market. Bitcoin, the biggest crypto in the world, jumped to the important point of $64,000 for the first time since 2021. 

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Other altcoins like Arweave, Jasmy, Dogecoin, and ORDI also jumped by double digits as the total market cap of all coins soared to over $2.23 trillion. Coins in their presale like Memeinator continued doing well in the past few days.

Crypto bull run continues

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Cryptocurrencies have continued soaring this week as they outperformed traditional assets like stocks and bonds.

This rally was triggered by the growing market share of key Bitcoin ETFs like the iShare Bitcoin Fund (IBIT) and the Fidelity Wise Origin Bitcoin Fund (FBTC). All spot ETFs have added over $4 billion worth of assets this week.

While some of these assets are coming from retail investors, most of them are from institutional investors. This is a notable move since most of these investors have had no feasible way to invest in Bitcoin in the past 15 years.

As a result, there are signs that many of them are allocating some of their cash in these ETFs. Besides, Bitcoin has been the most profitable alternative asset over the years as it jumped from less than $1 to over $60,000.

Bitcoin’s rally has triggered investments in other altcoins. Ethereum, the second-biggest cryptocurrency in the world, has soared to over $3,320 while BNB has jumped to $410. Arweave, a storage-focused token, has risen by over 50% in the past 24 hours.

Aptos soared by 23% as the DeFi TVL jumped sharply. Other top-performing altcoins were the likes of Jasmy, Fetch.ai, and Dogecoin. 

Memeinator is thriving

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The other notable moves in the crypto industry is about Memeinator, a platform that is currently raising funds through a token sale. 

According to its website, it has become one of the most successful tokens in the market as it raised over $5.2 million. It has scooped these funds from thousands of investors from around the world.

This fundraising has been so successful because it is aiming to become a winner in key industries in the crypto industry. 

For example, it aims to be one of the top meme coins, dethroning traditional coins like Dogecoin and Shiba Inu. Also, according to its white paper, Memeinator will have advanced artificial intelligence features, making it a competitor to the likes of Fetch AI and The Graph.

Finally, it will create utility for the MMTR token by creating a game that will let people win rewards. This is important because most analysts believe that blockchain technology will disrupt the gaming industry.

Therefore, there is a possibility that the Memeinator token sale will continue doing well as the ongoing crypto rally gains steam. Investors will buy the token hoping that it will surge after being listed in key exchanges.

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