Web3’s First Meme Coin Casino Memebet Token Raises $250,000 in Launch Week

cryptonews.com:

Since launching last week, Web3’s first meme coin casino Memebet Casino’s native $MEMEBET token has rapidly raised $250,000 as whales pile in to claim first-mover advantage by buying it at rock-bottom fixed prices.

See, meme coins like Dogecoin ($DOGE) and its many copycats may have started as a parody, but their fun and irreverent nature inspired loyal and large communities.

Now, developers are rapidly accommodating growing demand for them by building platforms like Memebet, which is a significant step towards integrating meme coins into Web3’s economy.

The presale launched last Tuesday and almost immediately bagged a $150,000 investment from an anonymous whale wallet. Within 48 hours, Memebet had secured a second whale investment to the tune of $50,000.

Today’s the right time for Memebet, too, with online gambling primed to explode from a $100 billion industry in 2024 to $130 billion within the next five years.

In addition, the US Federal Reserve Wednesday signalled the start of looser monetary policy with an interest rate cut of 50 basis points. Many had been waiting a long time for the move after the central bank raised rates 11 times over the last two years to hit their highest level in two decades last July. With borrowing getting easier, investors will be shifting to risk-on assets like crypto and stocks.

The Fed’s news had a very real impact on the volatile meme coin market. According to CoinGecko, the sector grew 6.9% in 24 hours to hit an eye-watering market cap of $45.7 billion. Not bad for crypto’s most speculative and volatile market.

Given the projected growth in both crypto and online gambling, Memebet is in a prime position at the convergence of both to become Web3’s first multimillion-dollar meme coin