Crypto’s First Meme Coin Casino Memebet Raises $300,000 as Meme Coin Markets Explode 18% Overnight
Web3’s first meme coin casino Memebet Casino is barely a fortnight into its $MEMEBET presale, but already the token has raised over $300,000 amidst an explosive meme coin rally that saw the extra volatile sector advance an eye-watering 18% in 24 hours to post a collective market cap of $55.3 billion.
Memebet Casino is riding the crest of the wave of a meme coin gold rush that has added double-digit percentage gains to most leading projects over the last 7 days, including Shiba Inu ($SHIB), which is up nearly 40%, while Pepe ($PEPE) and DogWifHat ($WIF) both advanced 30%.
There is also heavy speculation in the sector right now, with some of most rapidly growing projects being recent launches like the year-old Mog Coin ($MOG) and Neiro ($NEIRO), both of which kept pace with Pepe and DogWifHat this week.
Meanwhile, Moo Deng ($MOODENG), a meme coin tribute to a viral baby pygmy hippo in Thailand which launched a fortnight ago—about the same time as the Memebet Casino presale—is up a sweltering 945%.
In general, crypto markets responded positively to the US Federal Reserve’s decision to cut interest rates after two years and eleven consecutive hikes that saw American borrowing costs hit their highest level in twenty-two years last summer.
As borrowing costs come down, investors move into risk-on positions, and this has been broadly reflected by crypto’s rebound since the announcement.
All told, we could be looking at Uptober next month, which means Memebet Casino’s presale couldn’t come at a more timely moment. After all, $MEMEBET straddles two of the most explosive sub-sectors within crypto: meme coins and Web3 gambling (GambleFi).
Meme coins like Dogecoin ($DOGE) and its many copycats may have started as a parody, but their
Read more on cryptonews.com
