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Cryptocurrency prices have surged to the highest point in more than a year.
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Bitcoin and Ethereum prices have risen to the highest point since May 2022.
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Memeinator has already raised over $1.2 million from investors.
The cryptocurrency market has made a strong comeback in the past few months. Bitcoin has surged from last year’s low of $15,500 to over $37,000. Ethereum has surged to over $2,000. Other coins like Bonk, Solana, Cardano, and Internet Computer have continued soaring.
Why are cryptocurrencies soaring?
There are three main reasons why cryptocurrencies are jumping. First, cryptocurrencies have roared back because of the ongoing adoption of digital coins by institutional investors. Several mainstream companies like Franklin Templeton, Blackrock, Invesco, and Ark Invest. These companies have all applied for spot Bitcoin ETF.
And this week, Blackrock unveiled that it was considering launching a spot Ethereum ETF. Analysts believe that this trend will lead to more adaptation by the biggest investors in the world.
For one, while cryptocurrencies are valued at over $1.4 trillion, their adoption has been mostly driven by retail investors. As such, an embrace by moneyed institutions would have an immediate impact.
Cryptocurrency prices have also risen because of the actions of the Federal Reserve. The bank decided to leave interest rates unchanged between 5.25% and 5.50% in the last meeting. It then pointed to maintain rates at the current level for a while. This situation will likely continue now that Moody’s has lowered the outlook for America’s debt.
Third, they have jumped because of the upcoming Bitcoin halving, which will take place in April 2024. Historically, Bitcoin tends to do well ahead of the periodic halving event.
Memeinator to benefit
A key theme during the ongoing crypto rally is that meme coins have made a comeback. Bonk, the popular Solana meme coin that became a sensation in January, suddenly woke up, leading to a major surge. The token jumped to a high of $0.00000030, the highest point since January.
The rebound of meme coins like Bonk and Floki Inu is a good sign that newer crypto tokens like Memeinator will benefit. Memeinator is an upcoming crypto token that is now in the presale stage.
It is a meme coin that seeks to change the industry. It aims to do that by having a broad ecosystem, which will be powered by Artificial Intelligence (AI). Also, the MMTR token aims to eliminate the competition by investing heavily in marketing.
There are signs that Memeinator will be a top meme coin. For one, it has already gained traction among investors, as evidenced by the cash it has raised. The developers have already raised over $1.29 million from investors with no major marketing. You can buy the MMTR token here.
The post Crypto bull run is back: Memeinator is the new meme coin to watch appeared first on CoinJournal.
