Ordinals (ORDI) price spiked more than 45% on November 7 as Binance announced trading support for the token.
The short term outlook could be one where Ordinals price rises in tandem with bitcoin price.
Meanwhile, Memeinator (MMTR), a new AI meme coin, is attracting huge interest after Binance’s recent listing of Memecoin (MEME) sparked interest in these tokens.
Ordinals (ORDI) price was skyrocketing on Tuesday morning as the market’s interest in BTC inscriptions rose sharply. The spike follows news that Binance, the world’s largest crypto exchange by trading volume, will add trading support for ORDI.
ORDI price rose to a high of $28.62 in May as the frenzy around bitcoin inscriptions pushed transaction fees higher as network congestion impacted Bitcoin.
What does listing on Binance mean for Ordinals price and what is it likely to mean for new projects like Memeinator (MMTR)?
Binance to list Ordinals (ORDI)
Binance has announced that it will list the Ordinals (ORDI) token and open trading for ORDI/BTC, ORDI/USDT and ORDI/TRY spot pairs at 10:00 (UTC) on November 7. The announcement has seen the price of ORDI surge by more than 45% in the past 24 hours.
Cumulatively, ORDI price gains are currently more than 217% over the last 30 days.
Ordinal inscriptions are digital assets representations on a satoshi, with unique information forever stored on the Bitcoin network. These inclusion of text, images, audio or video on satoshis bring NFTs to Bitcoin.
Data shows there have been over 38 million ordinal inscriptions so far, and demand for these appears to be getting fresh impetus from the potential rally for crypto.
What is Memeinator?
Memeinator is a new meme coin project that seeks to dominate this market segment by seeking out and destroying all weak meme tokens. Its strategy is to combine powerful marketing and innovative product launches with real value utility.
The Memeinator network will be powered by the MMTR token, which will bring the benefit of staking, NFTs and gaming – the latter in the form of an action game – to holders.
At the heart of the project is the integration of AI with blockchain technology. AI not only aligns Memeinator with a powerful narrative, but also offers the project an edge over would-be competitors.
(More details about how the Memeinator works can be found on the official presale page.)
Ordinals price prediction
At the moment, most altcoins are eyeing an upward momentum amid the rise in Bitcoin price, which hovers near $35k and is forecast to rally higher in coming months.
The confluence of bullish factors for both BTC and higher beta alts is likely to catapult ORDI, the Memeinator and other emerging gems higher if the anticipated bull market comes into full swing.
ORDI is currently poised near the $12.58 resistance area. If bulls break past this supply wall, the main target in the next few weeks could be the resistance at $16.50. ORDI/USD could aim for $20.00 in this window.
Memeinator price prediction
As the broader crypto market warms up to a potential “Santa Claus” rally, this positive outlook is also being witnessed in the meme coin world.
The meme market cap was up 4% in the past 24 hours at the time of writing, climbing to above $17.5 billion as Dogecoin, Shiba Inu and Pepe recorded notable gains.
Binance’s listing of Ordinals comes days after the exchange added trading support for Memecoin (MEME), sparking fresh interest in memecoins. One of these is Memeinator, whose presale has already raised more than $1.1 million.
While Memeinator is a new token and therefore largely prone to price volatility, the listing on top exchanges like Binance could have a significant impact on its value. This is a picture that could materialize for MMTR when it launches in early 2024 as outlined on the project roadmap.
Priced at $0.0125 at the current presale stage, MMTR is expected to rise throughout the other stages to hit $0.0485.
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