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Bitcoin hits $62,500 post-Fed rate cuts, sparking memecoin surges led by Popcat (+30%) and the new Memebet ICO.
The crypto market is seeing renewed optimism, with Bitcoin reclaiming $62,500 following the Federal Reserve’s interest rate cuts.
Memecoins have benefited from the market’s bump, with numerous tokens seeing rises.
Popcat is leading the way with a 30% pump, while Dogwifhat (13%), Brett (10%), Floki (10%), and Pepe (9%) all seeing gains.
The bullish sentiment is also spilling over into memecoin ICOs amid hope for an October bull run, with new presale Memebet token (MEMEBET) benefiting.
The GambleFi project is building a crypto casino that supports meme coin wagering for tokens like Dogecoin, Shiba Inu, Pepe, and more, and has raised close to $250k despite just launching.
Combining memecoins with GambleFi
As if online gambling wasn’t entertaining enough, Memebet lets users wager highly volatile joke tokens.
It’s a use case that speaks directly to crypto ‘degens,’ those unafraid of risk so long as the return potential matches up.
The Solana blockchain became a hotbed for these risk-hungry traders, with market participants pouring millions of dollars into all types of whacky tokens.
For instance, a satirical meme coin called ‘Jeo Boden’ reached a market cap above $600 million. Nothing enabled this valuation, bar pure degen risk appetite.
Degens are always looking for new ways to earn, and recently, they’ve caught onto GambleFi.
Ansem, a popular Solana memecoin trader, has backed the leading GambleFi token, Rollbit, for significant success in the coming months.
Thousands of his followers invested after he tipped the project, causing the RLB value to explode.
$RLB is making $500M a year & trades at only $150M market cap? & football season starts thursday? am i seeing this correctly or pic.twitter.com/34V5OF4DOm
— Ansem 🐂🀄️ (@blknoiz06) September 3, 2024
However, Rollbit’s branding is likely too ‘buttoned-up’ for the average Solana degen, given their appetite for projects like Jeo Boden.
This is where Memebet comes in. It’s a meme coin-native casino that allows degens to risk it all by wagering on games and sportsbook events.
Web app and Telegram-integrated casino coming soon
The Memebet token presale is ongoing, but investors don’t need to wait until it’s over to start gambling. The casino is set to launch before the presale ends.
Memebet Casino will launch as a web app and Telegram app. This ensures maximum accessibility to all players and positions Memebet similarly to projects like Notcoin and Hamster Kombat.
Notcoin and Hamster Kombat are Play-to-Earn (P2E) games launched on Telegram, and each has accrued tens of millions of users. They did this through airdrops incentives, which distribute tokens to game players.
Notcoin airdrop is bigger than ZkSync and LayerZero combined.Users claimed tokens: • Notcoin: 11.5M • ZKsync: 695K • LayerZero: 1.28MTotal Airdrop value (ATH): • Notcoin: $2,5B • ZKsync: $954M • LayerZero: $323M pic.twitter.com/BVdAZBSSFI
— Trade (@trade_tg) June 25, 2024
Hamster Kombat’s token launch and airdrop will take place in one week, but Notcoin went live in April, and the project peaked at a $2 billion market cap.
Like these projects, Memebet will launch an airdrop before the token lists on exchanges.
Telegram has over 900 million users, opening Memebet to a vast new audience. It is worth noting that it’s KYC-free, so the casino onboarding process takes seconds.
A closer look at the airdrop and other MEMEBET utility
Memebet token stands out from Notcoin and Hamster Kombat because users must hold the MEMEBET token to gain airdrop eligibility.
Hamster Kombat boasts over 200 million users. Imagine if they all invested even $10 in HMSTR – the token value would be sky-high.
Indeed, Hamster Kombat was an outlier in terms of adoption, but Memebet is taking steps to ensure it also generates a large user base.
Not only will MEMEBET holders get airdrop access, but they’ll also receive casino bonuses, Lootboxes, bigger rewards, a VIP community group, and more.
Lootboxes are a centerpiece of Memebet’s community initiatives. It’s an industry-first, giving real-life prizes like NFTs, cash, and signed Messi Argentina shirts to winners.
Analyst says being able to wager memecoins is an “amazing” opportunity
Crypto Wire, a popular YouTuber known for covering early-stage projects, says that it is “amazing” that Memebet lets users wager with other memecoins like Dogecoin.
He nodded to Dogecoin’s lackluster performance this cycle, suggesting that casino wagering is a much-needed avenue of utility.
“Whenever a project comes up and lets people use their DOGE, it’s amazing. We’ve all been waiting (for a long time) for the Dogecoin price to go up,” he said.
The memecoin and GambleFi sectors have long run in parallel, attracting crypto’s most risk-hungry participants.
However, Memebet is the first time these two categories converge, and the MEMEBET token is at the center of it all.
Investors can buy MEMEBET at presale for $0.0252, but this price is expected to rise throughout the campaign.
For more information, visit the Memebet token presale website or join the community on X and Telegram.
