Olympic Games Official Countdown Begins – $MGMES Coin Raises $267K in Ten Days
- The Olympic Games starts four hours from now, suggesting positive times for a new Olympic-themed Play-to-Earn (P2E) token, which has raised $267K on presale.
- Ethereum’s ($ETH) slight price recovery, the $ETH ETF inflows amassing $1B+ post-debut, and whale investors turning to meme coins may contribute to the project’s success.
- This new token – The Meme Games ($MGMES) – also attracts investors through its passive income opportunities: its P2E model and significant staking incentive (913% APY).
The Paris 2024 Olympics will start in four hours, and positive crypto market sentiment bodes well for The Meme Games, which has raised $267K on presale in ten days.
$MGMES is a new ERC-20 meme coin whose presale ends in 17 days, coinciding with the end of the Olympic Games. This suggests it may benefit from the competition’s buzz from start to finish.
Other factors indicative of The Meme Games’ potential success include:
Let’s explore how these factors could drive $MGMES’s presale to the finish line.
$ETH ETFs Surpass $1B Post-Debut
$ETH’s price shows signs of recovery from July 24’s dump, the day after the SEC’s $ETH ETF approval, when its price plummeted by ~9.23% (from $3.4K to $3.1K).
However, as $ETH’s price dropped, its ETFs surpassed $1B in total volume, highlighting a bullish outlook for $ETH ETFs – despite lagging behind $BTC ETFs.
DAY ONE in the books for Eth ETFs who did $1b in total volume, which is 23% of what the spot bitcoin ETFs on their first Day and $ETHA did 25% of $IBIT‘s volume. The gap between $ETHE and The Newborn Eight is a healthy +$625m (a sizable chunk of which *should* convert to inflow pic.twitter.com/jaP4dKLrOs
— Eric Balchunas (@EricBalchunas) July 23, 2024
$BTC ETFs amassed $12.7B+ in three months, setting a high benchmark for $ETH ETFs. $BTC’s price hit its $74K ATH three months later, on March 13.
The initial performance of $ETH ETFs during the same period is currently estimated at 10%–15% of that of $BTC ETFs.
Nonetheless, the $1B $ETH ETFs inflows, $ETH’s 2.47% price spike, and meme coins’ 3.58% increase in market cap point to increased investor interest and confidence.
$47.4M $DOGE Buy Sparks Meme Coin Enthusiasm
Continuing the optimistic market trends, there’s a large influx of whale activity on meme coins like $DOGE, with one crypto whale buying $47.4M $DOGE on July 24 (the same day as the $ETH ETF launch).
This shows an increase in interest in meme coins during a period of instability. Such positivity surrounding meme coins, $ETH and its ETFs, and the Olympics could benefit $MGMES and propel it ahead of the meme coin pack.
$MGMES May Pump 998.9% by 2025
Dubbed the ‘official Olympics coin,’ $MGMES brings the meme coin trend to life by merging five legendary tokens ($DOGE, $PEPE, $WIF, $BRETT, and $TURBO) with P2E gaming utility.
$MGMES buyers can pick their favorite ‘memethelete’ to participate in the 169-m dash P2E game. If your chosen coin crosses the finish line, you receive a 25% token multiplier.
This means you can convert 20K $MGMES into $25K, and the outcome is completely randomized so that any meme coin can win the race.
Furthermore, you can participate in the 169 m dash any number of times as long as you keep buying $MGMES.
Another significant passive income opportunity comes from the project’s 10% staking token allocation ($2.024B).
Investors have staked over 11M $MGMES, with a 913% APY. This means buying 63,626 $MGMES ($579) would lead to 644,531 $MGMES ($5,865) in one year.
$MGMES is currently priced at $0.0091 per token but will increase in five days. Coupled with the Olympics starting today and the coin’s launch on DEXs on September 10, now is probably a good time to get in on the action.
Depending on broader market conditions and project developments, we predict $MGMES’ price could hit $0.1 by 2025 (a 998.9% pump).
To buy $MGME, go to The Meme Games website, connect your crypto wallet, and select the amount you want to purchase.
The Finish Line – Will $MGMES Be the Lucky Meme Winner?
The debut of the Paris 2024 Olympics in four hours and the crypto market’s positive outlook (Ethereum’s price increase and the meme coin market cap rise) will likely benefit meme coins like $MGMES.
With these factors in mind, it might be a good time to invest in $MGMES before its price increase and DEX listings.
References
- Ethereum Price Today (CoinMarketCap)
- Top Memes Tokens by Market Cap (CoinMarketCap)
- Ether ETFs Trade Over $1 Billion in Strong Crypto-Fund Debut (Bloomberg)
- Dogecoin Transactions (Blockchair)
Disclaimer: The opinions expressed in this article do not constitute financial advice. We encourage readers to conduct their own research and determine their own risk tolerance before making any financial decisions. Cryptocurrency is a highly volatile, high-risk asset class.
Our Editorial Process
The Tech Report editorial policy is centered on providing helpful, accurate content that offers real value to our readers. We only work with experienced writers who have specific knowledge in the topics they cover, including latest developments in technology, online privacy, cryptocurrencies, software, and more. Our editorial policy ensures that each topic is researched and curated by our in-house editors. We maintain rigorous journalistic standards, and every article is 100% written by real authors.
