As Bitcoin price looks to break higher amid spot Bitcoin ETF sentiment, analysts are bullish on altcoins.
Memeinator (MMTR) is also well-positioned as its presale attracts more investors.
The MMTR price could explode amid the bull market.
While altcoins have struggled amid Bitcoin’s resilience near the $44k area, the overall outlook is that the market is poised for a parabolic move.
Memeinator, the meme coin that has stirred investor attention amid a strong presale showing, could be one of the tokens to explode amid a thrilling bull market.
Here’s its price outlook ahead of a likely market-defining week for crypto in 2024 and beyond.
Analysts are bullish on altcoins
According to one analyst, the big crypto event this week remains the anticipated approval of spot Bitcoin ETFs – the first such approval in the US.
ETF experts have put the chances of approval as high as 90%, with this likely to increase given recent engagements between the US Securities and Exchange Commission (SEC) and issuers. These include BlackRock, which reportedly has $2 billion in investment funds ready for the ETF roll out.
Alistair Milne, the CIO of Altana Digital Currency Fund, shared his view of the ETF outlook via X on Monday, January 8. With this the final day for S-1 filings, Milne suggests a SEC vote or decision on Wednesday, January 11 could see spot Bitcoin ETF trading in the US roll out on Thursday or Friday.
If approval is the SEC’s decision and a nod to one or more the outcome, BTC price could erupt significantly.
Analyst Michael van de Poppe says bullish traction will shift to alts after the ETF approval. Ethereum, predicted to surpass the previous all-time highs of $4,800 could lead the altcoin market.
Elsewhere, the overall injection of upward momentum will accelerate presale projects, with a few breakout tokens standing out as the expected bull market strengthens.
Is this the outlook for Memeinator (MMTR)?
Memeinator is a new meme crypto utilizing AI – which combined with its genuine utility proposition, has it poised for potential dominance of the meme coin space.
A presale for the native token MMTR has quickly become one of the most-talked about across the crypto community, particularly on X (formerly Twitter). After registering a slow start in the first 8 stages of the sale, the MMTR token sale raced through three more stages in just over two weeks.
At $3.1 million out of an expected $3.2 million in stage 11, this show of investor confidence suggests the potential for post-presale price growth is increasing. The funds will go to the project’s development, with the official launch across top exchanges helping drive liquidity and adoption.
This could position Memeinator well ahead of the many worthless meme tokens, whose lack of utility is a major downside.
At current presale price of $0.0186, MMTR has the potential to return 65% when the presale ends and tokens are available to holders.
With analysts predicting major gains for altcoins and meme coins having outperformed in recent months, Memeinator stands a good chance of establishing itself as a major player in the meme coin space. The price of the native token could therefore explode as the market cap rises towards the targeted $1 billion mark.
Get more on this project, including its play-to-earn game and staking, from their whitepaper. Meanwhile, the presale is accessible here.
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