Ordinals and Memeinator price prediction as Binance lists ORDI
Release: 2023/11/07 18:19 Reading: 286
- 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.
In May, the price of ORDI surged to a peak of $28.62 due to the heightened excitement surrounding Bitcoin transactions, which led to increased transaction fees as network congestion affected the cryptocurrency.
What implications does being listed on Binance have for the price of Ordinals, and what impact is it expected to have on new projects such as Memeinator (MMTR)?
Binance to list Ordinals (ORDI)
At 10:00 (UTC) on November 7, Binance will initiate trading of ORDI/BTC, ORDI/USDT and ORDI/TRY spot pairs and list the Ordinals (ORDI) token. As a result of this announcement, the value of ORDI has increased by over 45% in the last 24 hours.
In total, the ORDI price has increased by more than 217% in the past 30 days.
Ordinal inscriptions refer to the digital representations of assets on a satoshi, where unique information is permanently stored on the Bitcoin network. These inscriptions can include text, images, audio, or video, thus introducing NFTs to the Bitcoin ecosystem.
According to the data, there have been more than 38 million ordinal inscriptions recorded up until now, and it seems that the demand for them is gaining renewed momentum due to the potential surge in the crypto market.
What is Memeinator?
Memeinator is a fresh meme coin initiative aiming to lead the market segment by targeting and eliminating weaker meme tokens. The project's approach involves integrating robust marketing efforts and pioneering product releases with genuine value and utility.
MMTR token will fuel the Memeinator network, providing holders with the opportunity to earn rewards through staking, as well as access to NFTs and gaming. The gaming component will take the form of an action game.
The integration of blockchain technology with AI is the core of the project. This integration not only provides Memeinator with a compelling storyline but also gives the project an advantage over potential rivals.
Additional information on the functionality of the Memeinator can be found on the official presale page.
Ordinals price prediction
Currently, a majority of altcoins are poised for an upward trend as the price of Bitcoin remains around $35k, and is expected to surge even further in the upcoming 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 approaching the resistance area at $12.58. If the bulls successfully surpass this barrier, their primary objective in the coming weeks could be the resistance level at $16.50. During this time frame, ORDI/USD may target $20.00.
Memeinator price prediction
With the wider crypto market showing signs of a possible "Santa Claus" rally, the optimistic sentiment is also extending to the meme coin space.
At the time of writing, the meme market cap experienced a 4% increase in the last 24 hours, surpassing $17.5 billion. Notably, Dogecoin, Shiba Inu, and Pepe saw significant 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.
At the current stage of presale, MMTR is priced at $0.0125, with expectations of increasing to $0.0485 as it progresses through the other stages.
Source: https://thebittimes.com/ordinals-and-memeinator-price-prediction-as-binance-lists-ordi-tbt69313.html
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