Avalanche, Cardano lead altcoin gains as Memeinator presale approaches $2M

Avalanche and Cardano have gained by double digits in a week as network activity grows.

Memeinator could benefit from investment inflows into risky assets.

The use case and roadmap make Memeinator attractive.

With a gain of more than 37% over the past week, Avalanche is the strongest altcoin among its top peers. Cardano, another altcoin to see an increase in bullish inflows, is up 30% in the same period. The gains highlight a potential recovery in altcoins following recent bullish runs in Bitcoins. However, it is a sign of increased appetite for risky assets that boosts sentiment for the rest of the sector. Memeinator has also witnessed demand, as investors acquire over $1.93 million worth of tokens in presale.

Avalanche and Cardano gains positive for Memeinator

It might feel that the gains in Avalanche and Cardano are following the price of Bitcoin. However, analysts believe Avalanche price was already undervalued before the latest recoveries. Henrik Andersson, the chief investment officer at Apollo Crypto, is optimistic of Avalanche. The analyst says the wider market has undervalued Avalanche for a while. He noted that Avalanche has recorded greater TVLs than most of its peers, yet its market cap has remained low.

A quick check of Avalanche’s network activity shows a major improvement. The network’s total value locked (TVL) has increased from $490M in the past three months to $841M. Similarly, Avalanche’s total trading volume has increased by more than 2,400% in the same period. 

Fellow top gainer Cardano has also witnessed increased network activity. DeFiLlama data shows Cardno’s TV has increased from $381.15 million, an increase of over 37% in a week. Such inflows are price triggers as they signal investor interest that boosts the native tokens.

The return of crypto activity allows new projects like Memeinator to take off as the risk-on mood develops. Memeinator is likely to continue enjoying an initial presale demand and carry it after listing on exchanges.

Understanding Memeinator

Memeinator is an upcoming meme project and is set to debut on exchanges in 2024. The token was launched through a presale and occurs in 29 stages, each marked with price increases. By the time the presale ends, the value of the token will have risen by 132%. But what exactly is Memeinator?

Memeinator is a futuristic and AI-led project that claims to have travelled back from 2077. Its mission is to capture and destroy weak meme cryptocurrencies. The goal is informed by the rapid growth in subpar meme tokens that do not give investors value. As such, Memeinator will deploy the AI to scan for targets and destroy them from existence.

Besides, Memeinator will invest in robust marketing and branding to maintain relevance. The branding includes listing on the best exchanges and partnering with influencers to market the project. The aim is to ensure everyone is talking about Memeinator, helping it become popular. With this roadmap, Memeinator targets up to $1 billion market cap and being the most traded meme token. 

Is Memeinator a good investment?

When it comes to meme investments, very few projects make a cut. Most projects are launched on hearsay and carry little fundamentals. That has made many projects unsustainable, while several others have collapsed. Memeinator gives investors a new perspective: an ambitious roadmap-backed by use cases. As such, Memeinator has utilities in gaming, NFT, and staking.

Memeinator also has a team driving the project’s vision with clear objectives. The project is also backed by a community of investors that joined from the time the web page went live. More investors join through presale as the amount raised approaches $2 million. Therefore, Memeinator could be a valuable investment that will likely grow and surpass its peers.

The unique value proposition of meme targeting also makes Memeinator a potential winner in the meme wars. The use case could attract interest in the project and help in the price discovery of Memeinator. Predictably, the token could see up to 50x gains, following the trends set by its meme peers.