Cryptocurrency investors are once again feeling bullish after bears enjoyed a six-week run. Bitcoin’s (BTC) price has broken the $71,000 resistance level for the first time since mid-April, and strong support has been established at the $69,000 level. Ethereum (ETH) has been one of the biggest winners in the past week, with its price soaring by 30% in the past seven days.
People investing in BTC ETFs have been one of the most discussed topics in the cryptocurrency space this week, and they are one of the primary factors driving Bitcoin’s price up. The possibility of Ethereum spot exchange funds being approved on May 23 has been why ETH’s price has grown so much in the past week. The consensus is ETH will likely set a new all-time high (ATH) in the coming weeks if the U.S. Securities and Exchange Commission (SEC) approves pending applications from asset managers like ARK Invest.
While many top ten cryptocurrencies have had a fantastic week, Milei Moneda ($MEDA) has taken the meme coin space by storm as its presale sells over $68.4 million tokens. A parody of Javier Milei, the eccentric economist turned president of Argentina, Milei Moneda is bringing political humor and a drastic break away from practices that have become the norm in the meme coins space.
Milei Moneda ($MEDA) could be the best meme coin to buy now
Meme coins have enjoyed more growth than any other class of altcoin in 2024, primarily thanks to the price growth BTC enjoyed earlier in the year. Milei Moneda isn’t just a meme coin; it brings anarcho-capitalism ideals into the cryptocurrency space, creating an ecosystem where investors can decide which direction it goes.
Milei Moneda comes with well-structured tokenomics and deflationary procedures. The circulation supply of $MEDA is restricted to 500 million, starkly contrasting popular meme coins like Pepe (PEPE), with its 420 trillion tokens in circulation.
$MEDA is priced at $0.015 in the presale’s third stage, and tokens will be priced at $0.20 when launched on Uniswap, earning investors 33% profits.
Milei Moneda investors can use their tokens to participate in the project’s governance, and they’re entitled to many perks like exclusive access to content, events, and non-fungible tokens (NFTs). The project also plans to launch various decentralized finance services, with 15% of the circulating token supply allocated to liquidity pools.
Milei Moneda’s developers plan to get the project to a $1 billion market cap during its third phase, which could take $MEDA’s price to around $2.
Economize Like Milei: Invest in $MEDA!
ETF inflows give BTC’s price a boost
Inflows into spot Bitcoin exchange-traded funds, BTC withdrawals from cryptocurrency exchanges, and a streak of high daily closes are credited for the price surge it has enjoyed in the past week.
A report from Bitfinex Alpha shows that over 55,000 BTC flowed out of crypto exchanges on May 15, an indicator that some whales don’t plan to sell their tokens anytime soon. Some projections have BTC breaking the $80,000 resistance for the first time in the coming weeks.
ETH ETF anticipation reaches an all-time high
The hype surrounding the SEC approving spot exchange-traded funds for the second most popular cryptocurrency has helped push its price up 30% in the past week. ETF analysts, like James Seyffart, believe Ethereum spot exchange-traded funds have a 75% chance of being approved on May 23, making it one of the best altcoins to invest in.
Summary
Top crypto coins BTC and ETH are enjoying price surges as exchange-traded funds, and the possibility of Ethereum getting its own has led to a buying frenzy. Some analysts believe that $MEDA offers investors the possibility of higher returns, given its solid tokenomics and the 50x growth expected to be enjoyed before 2024 ends.
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