Dogecoin has been underperforming over the last few days and could drop below the $0.080 region soon.
Memeinator’s presale is now in its 13th stage and has raised close to $4 million.
The cryptocurrency market has been bearish since the spot Bitcoin exchange-traded funds (ETFs) were approved. Dogecoin is currently struggling to stay above the $0.080 region and could dip further in the coming hours or days.
Despite that, the Memeinator presale continues to surge ahead and is close to setting a new milestone.
DOGE underperforms and could drop below $0.08
Dogecoin, the leading meme coin in the world, has been underperforming over the past few days. It has lost more than 3% of its value over the weekend and could experience a further dip in the short term.
At press time, the price of DOGE stands at $0.0838 per coin. The bearish performance comes as the broader crypto market has been experiencing selling pressure since the spot Bitcoin ETFs were approved in the United States.
What is Memeinator?
Despite the current bearish trend in the market, investors continue to pour funds into new and exciting projects. Memeinator remains one of the beneficiaries as its presale continues to attract more investors.
Memeinator is a Web3 project that is working to make content creation better for people within the crypto space and beyond. Per the team, the goal of the project is to destroy worthless memes on the internet and promote the use of quality ones.
The development team seek to push the project to reach a billion-dollar market cap, with its various products and features striving for adoption. Memeinator will leverage AI technology and blockchain to identify worthless memes, allowing investors to know and avoid them.
Currently, Memeinator is in its presale stage and has raised more than $4 million from the public over the last few months. Its native token, MMTR, began the presale at $0.01 per token, and the price will rise to $0.0485 by the end of the presale, giving early investors an amazing 132% ROI once it gets listed on crypto exchanges.
Once the presale stages are completed, the team will organise a Memeinator game where players will get a chance to eliminate enemy memes and win some exciting prizes.
Why has Memeinator’s presale raised so much?
The Memeinator presale is close to hitting a new milestone despite the current bearish trend in the market. This is thanks to its excellent and unique value proposition. With the right level of adoption, Memeinator would be used by degens, crypto natives, speculators, and content creators.
According to the development team, Memeinator will use AI to analyse and evaluate memes on the internet, identifying lower-quality memes to replace or “destroy. With Memeinator, content creators will have access to high-quality memes instead of the mediocre ones currently littering the internet.
The team have also incentivized the MMTR token in a bid to make it very attractive to investors. The first incentive is a reward for token holders. Secondly, MMTR has deflationary mechanisms which would help increase the token price as total supply decreases. Furthermore, 20% of the tokens are allocated for marketing, CEX listing and liquidity.
Click here to read more about the Memeinator presale.
Is the Memeinator token a good buy?
Memeinator could prove to be an excellent project if the development team go through with their plans. If that happens, MMTR’s price could surge higher in the coming months and years.
During the first stage, MMTR was sold at $0.01 per token and it now goes for $0.0197. The price will increase to $0.0208 once the presale enters stage 14.
So far, the Memeinator team has raised $3.847 million and is close to achieving the $4.025 million target it set for the current presale stage.
MMTR’s value could soar higher in the coming months and years once the token gets listed on cryptocurrency exchanges.