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This Brand New Meme Coin Just Raised $11 Million In A Firesale With No Roadmap

The cryptocurrency space is indeed full of surprises. Recently, an emerging meme coin called $MEME, which has no roadmap or utility has already raised over $11 million in its ongoing firesale.

Memecoin (MEME) Achieves A Major Milestone With Firesale

MEME is an Ethereum-based memecoin that operates under the ERC-20 network, with a total supply of 69 billion MEME tokens. The token was designed by a web3 startup called Memeland and launched by the team that worked on 9GAG.

According to the Memecoin fire sale page, the brand new meme coin reportedly sold over 11.4 billion MEME tokens selling at $0.001 in its ongoing firesale. This indicates a significant 150% surge, beating the team’s expectations from the very beginning.

The token’s active firesale which has amassed over $11 million already has done this despite being a waitlist-only sale.

In line with Memecoin’s whitepaper, the team highlighted that the token “has no functions, no utility and no intrinsic value, no promise or expectation of any financial return, profit, interest or dividend.” 

The team further asserts that in regard to the Memeland ecosystem, the Memecoin does not represent “any entitlement to any voting rights.” 

However, despite the meme coin not having a roadmap, utility, and future return, it did not sway crypto investors from purchasing the meme coin. In addition, the crypto community is still eager to buttress the startup, demonstrating crypto investors’ trust and faith in the new meme coin.

According to data from MEME’s tokenomics, it was revealed that the first 2.7% of the total supply of the MEME token will be released on October 27. Meanwhile, the remaining portion will be “unlocked daily over the course of eighteen months.”

Meme Coin Captures Crypto Investors’ Interest

The cryptocurrency community’s interest in the newly introduced MEME token can be traced back to the future profit potentials of meme coins. Meme coins can offer huge investment returns for investors, although they can also be risky for those who do not engage in proper research before investing in the tokens. 

One notable meme coin that has garnered huge returns for investors and produced hundreds of millionaires in the 2021 bull run is the Shiba Inu (SHIB) meme coin. 

Related Reading: The Battle of Memecoins: EverLodge vs Shiba Inu – Which Holds the Key to Success?

The Dogecoin rival was launched in 2020 but later rose to fame in 2021 after significant price surges. The token has managed to remain a vital meme coin to this day.

Shiba Inu meme coin price chart from Tradingview.com

The Shiba Inu was launched with an initial price of $0.000000001009, according to CoinMarketCap. By May 2021, the token was traded at $0.00003469, indicating an over 10,000% surge in price. The token is the currency being traded at $0.000008 as of the time of writing.

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SHIB Will Lose Place To PEPE In New Bull Cycle, Analyst Makes The Case

The crypto market is constantly in motion; there is a potential shift in SHIB and its position in the nascent sector. An analyst presented a bullish case for PEPE, which could directly impact SHIB’s position in the meme coin market.

As of this writing, PEPE has considerably outperformed SHIB and other memecoins. PEPE records a 14% increase in the last 24 hours alone and a 90% increase over the past two weeks, while SHIB records an 18% profit over the same period.

Shiba Inu SHIB SHIBUSDT

SHIB Investors Should Fear PEPE’s Impact?

An analyst believes that PEPE’s current price action will extend beyond the early stages of the current Bull Cycle, following a successful break out beyond the 7730 and 8127; as seen in the chart below, the cryptocurrency hit a critical resistance level. The analyst stated:

$PEPE That was a quick move upon retaking the range. First target at 10800 reached but ultimately I am holding a spot bag of this for the cycle to come. Still stand by the idea that $PEPE will be this cycle’s $SHIB.

SHIB PEPE SHIBUSDT PEPEUSDT SHIB Price PEPE Price

However, the analyst believes that PEPE’s rally is barely starting. The cryptocurrency reclaimed an important area and could continue to climb beyond its all-time high and into uncharted territory during the bull cycle.

Altcoins To Watch In Upcoming Cycle

PEPE is one of the altcoins the analyst is keeping an eye on. In addition to the meme coin, the trader expects the NFT and staking sectors to bloom in the coming months.

Apecoin’s APE and LidoDAO’s LDO have been rallying due to the current bullish momentum in the market. LDO alone could hit the $2 target in the short term and continue its run higher into the $3 territory.

Other cryptocurrencies to watch if these sectors trend to the upside are ETH, DOGE, BLUR, and ORDI. On APE, the analyst stated:

APE So far so good. Pretty strong and about to test an important high timeframe resistance area. Clear this and I think we can look for ~$1.8 next. If NFTs bounce as well that would help this.

As of this writing, APE is trading at $1.3 with a 25% profit in the past two weeks.

SHIB price SHIBUSDT PEPE APE LDO

Cover image from Unsplash, chart from Tradingview

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Anatomy Of A Bull Market: The Bitcoin Roadmap To $70,000

Through bull and bear rallies, crypto analysts have always given their forecast for where the price of a crypto like bitcoin might end up. Mostly, this is the norm, but one analyst has taken a deeper dive into the coin to give an in-depth analysis of Bitcoin’s upward rally. The analysis touches on multiple indicators, as well as the widespread acceptance that BTC has been gaining recently.

Bitcoin Price To $70,000

The analysis shared on TradingView shows a different side of the market that has previously been untapped. The analyst who goes by ArShevelev identifies the period between March and August as the ‘Stealth Phase’, which is likely where most of the accumulation occurred.

Next, the crypto entered into the ‘EW Channel’ which looks like it served as a bounce-off point for the rally. From here, it has been an easy coasting upward reaching above the $34,000 mark. But this is where things start to get interesting.

At this level, the analyst predicts a pullback in the price. This pullback from $34,000 sends the price falling back down to as low as $31,000 before the rally starts up again. The end of this retest leads to the top of the third wave where the price reaches as high as $50,000, before another pullback again.

This sent the price back down to the $35,000 mark once more to mark the fourth wave before bouncing up again into the fifth wave. Now, at this point, the analyst sees ‘Media Attention’ entering the game (presumably mainstream and traditional finance media), and the lift-off from this level reaches the $70,000 mark.

Bitcoin $70,000

Factors To Drive The Momentum

The crypto analyst presents seven major factors that are behind the predicted Bitcoin momentum leading into a bull market. For starters, the first is the same as everyone expects – the almighty Bitcoin Halving. This event is undoubtedly the most bullish in Bitcoin’s history and a repeat of it is expected to kickstart the bull market.

Next on the list is the Impulse Structure and Rising Channel where the analyst believes that the BTC price is “painting a compelling picture on the daily timeframe.” This leads to the Third Wave Speculation as already explained above. The analyst believes the market is in the third wave, with the fourth being a pullback and the fifth leading above $70,000.

Fourth on the list is the Wyckoff Accumulation Pattern in which Bitcoin is already showing strength. Then there is the Bollinger Bands Width Squeeze which has dropped to 2014 levels. “This rarity accentuates Bitcoin’s growth potential, serving as a strong indicator for investors,” ArShevelev says.

The sixth factor is the Historical Comparisons where the current price action is compared to previous market trends. The 2023 bear market looks more like the 2015 bear market as the analyst points out, and this could see an almost 100% jump in price as it did in 2015. This would put the Bitcoin price above $50,000.

Last but not least is Institutional Interest which has been on the rise lately. Mostly, this has been driven by the enthusiasm around BlackRock, the world’s largest asset manager, filing for a Spot Bitcoin ETF and possibly bringing Bitcoin into its over $8 trillion portfolio.

ArShevelev explains that a Spot Bitcoin ETF “promises to be a game-changer” due to its ability to bridge TradFi to crypto and allow more money to flow into Bitcoin. “The ETF’s advent not only signifies regulatory acknowledgment but also invites a wave of retail participation,” the crypto analyst said. “The anticipation is that as we approach the holiday season, institutional investors will further solidify this upward trajectory.”

Bitcoin price chart from Tradingview.com

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Still Not Bullish On Solana? 4 New Reasons Why You Should Be

Solana (SOL) has been on the tip of many crypto enthusiasts’ tongues lately and with good reason. The vibrant ecosystem, strong partnerships, and a skyrocketing SOL price have given investors plenty to mull over. Here are four (new) reasons why you should lend Solana your attention.

#1 Solana And The US Regulatory Landscape

Solana’s prospects in the US seem to be intertwined with unfolding regulatory decisions. Vibhu Norby, founder of Drip Labs, today shared notable and positive insights from a recent Crypto Policy Bootcamp, tweeting, “Takeaways from Crypto Policy Bootcamp in D.C. … Most agreed Gensler is an outlier, lots of folks in Congress support crypto and clear rules, and everything is going to be fine. Just slow.”

This suggests a broader acceptance and understanding of crypto within the legislative chambers. One of the key points Norby highlighted was the collaborative efforts between the Solana Foundation and Polygon Labs. He shared, “Solana Foundation and Polygon Labs are working together (!) to secure better policy.”

Norby also touched upon the ongoing lawsuit between the SEC and Coinbase, asserting, “SEC vs. Coinbase is the most important case right now in the US. A few opinions from smart lawyers think Coinbase probably wins against the SEC before Q2 next year. But nobody knows of course.”

The ramifications of this case could have broad implications, especially for tokens like Solana (SOL) that have been pulled into regulatory scrutiny. Given the SEC’s allegations against Binance and Coinbase for selling unregistered securities, including SOL, a favorable outcome for Coinbase might positively impact Solana’s standing in the US and ultimately its price trajectory.

#2 Solana’s Potential Blue-Chip Evolution

The constant comparison between Ethereum and Solana has given rise to debates in the crypto sphere. However, the increasing attention Solana has garnered, especially from venture capitalists (VCs), has lent credence to the belief that it might soon join the ranks of blue-chip assets.

Raj Gokal, co-founder of Solana, recently hinted at a shifting attitude amongst VCs towards Solana. In response, Chris Burniske, analyst and partner at Placeholder VC, predicted a change in perception among VCs – moving from avoidance to eagerness in investing in Solana projects.

Burniske further confirmed a user’s query regarding Solana’s potential to attain Ethereum-like prominence, suggesting that in places like India, Solana already enjoys a reputation similar to Ethereum’s.

He stated:

Very quickly this will go from, ‘We don’t invest in Solana projects,’ to ‘We’re underexposed to Solana.’ And so the bidding wars will begin… the quality entrepreneurs of the ecosystem deserve it.” […] And would add that in some countries, like India, Solana is already as widely known and beloved as Ethereum.

#3 Rising Institutional Interest

Recently, the institutional tide appears to be turning in favor of Solana. Sasha Fleyshman, a notable portfolio manager at Arca, expressed his initial hesitation towards Solana in a tweet, stating, “For what it’s worth Raj Gokal, Chris Burniske, I haven’t really seen too much in the pipeline to even consider for investment from the Solana side of the ecosystem.”

This sentiment, once widely echoed within the institutional realm, seems to be undergoing a change. “I think party lines were drawn on both sides [Ethereum and Solana]- as for us, we are open to taking looks, but unsure how to get that started,” Fleyshman revealed.

A deep dive into recent data also shows Solana’s growing allure among institutional investors. Solana (SOL) has seen the strongest influx of capital among all crypto assets in recent weeks. Per CoinShares’ weekly digital asset investment products report, SOL has been the darling of institutional investors.

The latest CoinShares report indicated a significant surge in capital inflows towards Solana. In just one week, Solana attracted a substantial $15.5 million, starkly juxtaposed against Ethereum’s outflows, which stood at $7.4 million for the same period.

Such a bullish institutional endorsement is further amplified when considering the year-long metrics. Solana’s Assets under Management (AuM) for the year have burgeoned to a remarkable $74 million, marking a surge of 47%. In comparison, Ethereum’s outflows have amounted to $119 million year-to-date.

#4 Bullish Chart Setup

The Solana (SOL) chart is extremely bullish and one of the strongest in the entire altcoin market right now, with a performance of +240% year-to-date. At press time, SOL was trading at $32.14 after establishing a new high for the year yesterday at $33.87 yesterday.

The SOL price has broken out of the triangle formation and is in the process of establishing a new trading range above $30.61. If SOL defends this level in the coming days and weeks, a rise to the next key resistance area at $47.21 could be on the cards.

Solana SOL price