Crypto traders eye Memeinator (MMTR) Bitcoin among bullish speculations
Analysts see prices hovering above $71k and $3.8k on Bitcoin, Ethereum respectively.
As investors look for new gems, Memeinator (MMTR) could be a top target among memecoins.
Crypto traders have seen a huge run for memecoins in the last month or so. Meanwhile, Bitcoin has soared above $70,000 this week and analysts expect further gains amid unprecedented ETF outflows.
While the current political buzz has many meme coins parabolic, new market entrant Memeinator (MMTR) is among the best performers in the coming months due to its strong usage.
Bitcoin and crypto react to ECB rate cut
Cryptocurrencies rose slightly after the European Central Bank (ECB) cut interest rates for the first time in five years. Market experts say the Fed and other central banks will soon follow this trend, helping the long-term outlook for Bitcoin (BTC) amid cheap cash flows.
Reports surfaced this week that Franklin Templeton, the $1.6 trillion asset manager, is looking to launch a crypto fund that would give investors exposure to cryptocurrencies other than bitcoin and ethereum. The fund will target institutional investors, the information said.
But what is known from this is that crypto is on the rise when it comes to the adoption curve and the recent market traction of ETFs in the space shows this.
For example, Bitcoin ETFs recorded $488 million in revenue on June 5, and $218 million on June 6. In the last three days, net income has reached more than $1.5 billion.
Analysts high price prediction for BTC, ETH
While prices remain mostly stable for BTC and ETH, analysts are confused about what will happen next. Analysts at Standard Chartered predicted this week that Bitcoin could reach $100,000 ahead of the upcoming US election.
The Fear and Greed Index, currently at 78 and high on greed, shows traders are feeling confident, while open demand is at a historic $38 billion.
The same sentiment is around ETH. Total ETH futures open interest is currently over $16.6 billion with traders targeting Ethereum at the start of trading.
VanEck analysts recently suggested that the price of Ethereum could rise above 22k by 2030.
Crypto vision and new gems like Memeinator (MMTR).
With major cryptocurrencies dominating high price forecasts, analysts are predicting that memecoins, AI tokens and the emerging Bitcoin-Fi (DeFi on Bitcoin) ecosystem are likely to witness an extreme bull market.
While memecoin traders such as Pepe and Floki are promoting sites, Memeinator (MMTR) offers a new opportunity.
Memeinator recently launched its business after successfully exploring pre-sales. The project aims to be a highly leveraged meme coin, driven by an ecosystem driven by a play-to-earn model, including an NFT marketplace and statistics.
These features make Memeinator one of the meme coins with a strong outlook on its growth trajectory. A big plus for Memeinator could be the upcoming meme-inspired game Meme Warfare.
Despite the token's initial launch facing a wider dip for altcoins, MMTR's price is above a key level.
