Traders capitalize on meme-based cryptocurrencies like MemeCore, identifying lucrative buying opportunities in the meme coin market.
In the world of cryptocurrency, there's been a flurry of activity over the past few days. Here's a roundup of the latest developments.
At the Japan Dev Conference, Ethereum's co-founder Vitalik Buterin unveiled a stock market today roadmap for the blockchain giant. Meanwhile, in the meme coin sector, MemeCore's M token saw a 8% drop on Monday, following a 200% surge in seven days. The price currently stands at $1.7, but it's still up 150% over the week. However, it's important to note that the recent surge was driven more by hype than real adoption.
One meme coin bucking the trend is Maxi Doge, a Dogecoin-themed coin with a bodybuilding Shiba Inu mascot. Maxi Doge is building real token utilities such as staking, futures trading integrations, and community giveaways, which could potentially drive its bitcoin price. The presale for Maxi Doge has already raised nearly $2 million.
Another promising development comes from Bitcoin Hyper, which has raised $14.4 million in its presale. The project is developing a Bitcoin Layer 2 (L2) blockchain using the Solana Virtual Machine (SVM). Bitcoin Hyper's L2 includes a trustless canonical bridge, allowing Bitcoin holders to transfer BTC seamlessly.
The meme coin sector's market cap as a whole increased by 6.3% during the same period. One coin not yet pumped but with viral potential is Snorter, a Solana-based meme coin trading bot. Snorter offers features like copy trading, automated token sniping, rug pull detection, dynamic stop losses, and more. The SNORT presale has raised $3.4 million, indicating a forming community and potential for a price surge upon exchange listing.
In other news, Ripple has moved into Spain, offering digital asset custody with BBVA. This move is part of Ripple's ongoing expansion into the stock market. The Federal Reserve's 'third mandate' may devalue the dollar, potentially sending crypto to new all-time highs. Eric Trump predicts that a Federal Reserve rate cut will send crypto-tied stocks surging in Q4. This prediction seems to be holding true, as XRP, BNB, and Hyperliquid are surging as markets brace for the Federal Reserve rate cut decision.
Lastly, Microsoft has joined the scramble for UK AI 'cake' with a $30 billion package. As the crypto market continues to evolve, it will be interesting to see how these developments unfold.
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