2023-09-30 07:22:29 ET
A looming US government shutdown could prove a headwind to the broader market as crypto and stocks step into October. It’s an outlook that could be worse off for meme coins as a new era begins with the arrival of the Memeinator (MMTR) .
US government shutdown and implications on crypto
Chances of a US government shutdown rose significantly Friday as Republican lawmakers joined up with Democrats to reject a GOP proposal by 232-198 votes. With this likely a last-ditch effort, market experts suggest there’s no path to a compromise before the Saturday night deadline.
What would be the implication of such a shutdown for crypto ? Greg Cipolaro, global head of research at NYDIG, said in a note on Friday that should the government shutdown happen, crypto implications may be felt in two areas: law enforcement and financial regulation. For the former, the impact on crypto-related cases at the Department of Justice (DOJ), while the latter could be on the activities of the Securities and Exchange Commission (SEC).
Already, the SEC has seemingly anticipated the shutdown by delaying multiple Bitcoin ETF proposals well ahead of decision due dates. Market reaction has seen Bitcoin price retreat below $27k and altcoins, including meme coins, shed some of the gains seen over the past week.
Uncertainty aside, investors appear to be endorsing the potential of the new Memeinator (MMTR) token after the project’s presale launched this week.
What is the Memeinator?
The crypto meme market has seen a remarkable rise this year, growing to over $20 billion in size as hype and momentum drove popular meme-themed tokens higher. Growth in the community of some meme tokens has also been impressive.
However, there are countless meme coins that offer no value other than being parodies of top coins, a scenario that has the memesphere replete with worthless overhyped tokens.
Memeinato r is a project aimed at returning fun with new value to the global meme coin community. That comes in the form of an annihilation of the weak memes as the native MMTR rises to a $1 billion market share.
MMTR, a utility token encompassing a deflationary mechanism, brings value holders, including access to staking, NFTs and the Memeinator game – a novel artificial intelligence (AI)-driven game “Meme Warfare” will see MMTR holders hunt and destroy meme coin wannabes.
There’s also a prize for one MMTR holder in the form of a Virgin Galactic trip to space.
Memeinator tokenomics and where to buy
MMTR tokenomics as outlined in the project’s whitepaper indicates a total supply of 1 billion MMTR tokens. The team has allocated 65% of this for the presale, with this poised to hit stage four as the project moves up a roadmap that includes launch on major crypto exchanges and unveiling of the Memeinator game.
With a landmark presale raise of over $700k in just three days, the Memeinator is showing the meme coin world that it means business. It’s a sign that the extermination of weak meme coins is underway and that the looming US government shut down won’t save any from judgement day.
For crypto meme enthusiasts looking to be part of the new era, the chance to buy MMTR at presale prices is open today. The current price is $0.0112, which will increase to $0.0118 at the next stage, and continue rising throughout the presale phase.
At the moment, Memeinator supports buying with ETH and USDT on the Ethereum mainnet as well as BNB and BUSD on Binance Smart Chain.
If you want to learn more about Memeinator, or buy MMTR, visit their website .
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