3 altcoins featured this week: Polygon, Frax and Memeinter
Renaming Polygon (MATIC) to POL can be bullish. Frax (FXS) is launching a layer-2 blockchain that could increase price visibility. Memeinator (MMTR) has reached the presale level of 15, as the meme coin attempts to dominate the market at its launch.
Last week saw a surge in cryptocurrencies as Bitcoin broke above $48,000. Even if the price of BTC retreats below the above mentioned level, investors looking for potential bull momentum in the coming months can use the dip to buy more.
Top altcoins like Ethereum, Solana and XRP are worth watching. However, among the key news events and developments, a few signs can stand out. This is why Polygon (MATIC) and Frax Finance (FXS) and Memeinator (MMTR) are likely to be two of the signals to watch in the coming weeks.
Polygon (MATIC): A rebrand can be bully.
Polygon's MATIC Bitcoin was one of the top altcoins to buy on Monday's pullback, showing gains from the weekend. Ahead of this week's economic data release, the cryptocurrency fell about 3% as the broader crypto market reflected on the future of the US.
MATIC, however, remains above 5% last week and is poised to retest the $1 level. According to crypto analyst The DeFi Investor, Polygon is one of the projects to watch in the coming weeks due to the upcoming rebrand of MATIC to POL.
According to the analyst, the rebrand may happen this month and such events “in general [been] A scream if done right.”
Frax Finance (FRX): Launching L2 is a key milestone.
In the year On February 7, 2024, the Frax Finance team announced modular blockchain Fraxtal access to the Testanet network and mainnet. Immediate access was made available to select partners, with it set to go live for regular users in the coming days.
Fraxtal has incentives lined up for users including airdrops, liquid rewards and new FXTL points. These will be allocated later this month with platform partners and developer teams using interim time to bring dApps to the blockchain. FXS sales are also open.
FXS price reached a high of $42.80 in January 2022. The current price is down 79% from that peak. The public launch of the Frax L2 blockchain could be one of the signs in the coming months if general market incentives for FXS increase.
Memeinator (MMTR): A meme coin to challenge DOGE?
Memeinator is a new crypto token in presale. The MMTR token is a meme coin that is a utility token of the Mememainter ecosystem.
At launch, MemeInator's main goal is to establish itself as a top meme coin project that will challenge and possibly surpass Shiba Inu and Dogecoin. Part of that mission comes with hating all the useless meme coins that don't contribute anything to the community.
These sub-tokens are often mere replicas of wallets left in worthless bags. Inspired by The Terminator, Memeinator has come up with Meme Warfare – designed to deliver judgment on weak meme tokens.
The project has already seen massive pre-sale engagement, a surge in social media followers, and perhaps most importantly, the launch of the stocking pool and token burn. The target is to reach a market capitalization of $1 billion, and this means that the price may increase significantly after the launch.
Currently in stage 15, Memeinator has paid more than $4.2 million, the price of MMTR has risen to $0.022. Details on Memeinator's presale page show that the next price level will be $0.023, and the value will continue to grow at the presale level of 20.
