- Polygon (MATIC) rebranding to POL could be a bullish catalyst.
- Frax (FXS) launches a layer 2 blockchain, which could potentially boost its price outlook.
- Memeinator (MMTR) presale has reached stage 15 as the meme coin is expected to dominate the market upon launch.
Last week, cryptocurrency prices soared as Bitcoin surpassed $48,000. While BTC price pulls back below the above levels, investors interested in potential bullish momentum in the coming months are likely to take advantage of the dip to buy more.
Top altcoins like Ethereum, Solana, and XRP are worth a look. However, a few tokens may become prominent during major news events and developments. Here’s why Polygon (MATIC), Frax Finance (FXS), and Memeinator (MMTR) could be two tokens to watch in the coming weeks.
Polygon (MATIC): Rebranding May Be Bullish.
Polygon’s MATIC is one of the top altcoins to pull back on Monday as Bitcoin shows gains over the weekend. Cryptocurrencies fell about 3% as the broader cryptocurrency market mirrored U.S. futures ahead of this week’s economic data release.
However, MATIC remains up more than 5% over the past week and is in a position to retest the $1 level. According to cryptocurrency analyst DeFi InvestorsPolygon is one project to watch in the coming weeks due to its upcoming rebrand from MATIC to POL.
The rebrand could happen this month, according to analysts, and such an event was “generally bullish if done right.”
Frax Finance (FRX): L2 launch is a key milestone.
On February 7, 2024, the Frax Finance team announced access to the testnet and mainnet of the modular blockchain Fraxtal. Access was immediately available to selected partners and will be made available to the general public in the future.
Fraxtal has prepared incentives for users, including airdrops, liquidity rewards, and new FXTL points. This is scheduled for later this month, and the platform’s partners and developer team will use the interim time to bring dApps to the blockchain. FXS staking is also available.
The FXS price reached a high of $42.80 in January 2022. The price is currently down 79% from its peak. If the public launch of the Frax L2 blockchain adds to the overall market catalyst for FXS, it will likely be one of the tokens to watch in the coming months.
Memeinator (MMTR): A meme coin that will challenge DOGE?
Memeinator is a new crypto token in pre-sale. MMTR token is a meme coin that will be a utility token in the Memeinator ecosystem.
Upon launch, Memeinator’s main goal is to establish itself as the leading meme coin project that can challenge and surpass Shiba Inu and Dogecoin. Part of that mission is to conduct a hostile takeover of all worthless meme coins that offer nothing to the community.
These subpar tokens are often mere imitations that leave their holders with a bag of worthlessness. The Terminator-inspired Memeinator comes with Meme Warfare, ready to pass judgment on weak meme tokens.
The project has already shown traction with massive pre-sale participation, a surge in social media followers, and perhaps most importantly, the staking pool launch and token burn. The goal is to achieve a market capitalization of $1 billion, which means the price could potentially surge significantly post-launch.
Currently in Phase 15, Memeinator has raised over $4.2 million and the MMTR price has risen to $0.022. According to details on the Memeinator pre-sale page, the next price level is $0.023 and the value will continue to rise until the 20th level of the pre-sale.