Friday, December 28th, 2023 – Altcoins like Ethereum are hotting up and Meme Kombat is joining the party too, after raising more than $5 million to pass the 50% milestone in its ICO. As the new meme coin enters the latter half of its presale its fundraising run rate is accelerating as whales pile in.
Meme coins remain one of the most popular segments in crypto, providing traders with the chance to snare gains that can often be measured in the thousands of percent. Meme Kombat is well-positioned to be among the big hitters when it launches. The token has a $10m hard cap target.
Among the meme coin heavyweights that Meme Kombat aspires to emulate are the likes of Pepe and Shiba with their multi-billion dollar market capitalizations.
But in the meme coin space, even more so than elsewhere in crypto, new coins are being launched every day in a hyper-competitive market. Pawswap (+225%) and Baby Grok (+75%) and Spurdo (+85%) are just three of the coins that have been setting the pace for meme coins over the past seven days, for example.
Across crypto as a whole, buyers are back in the driving seat as the expected approval of a spot bitcoin ETF fuels a new bull run for the industry. Bitcoin is the best-performing financial asset of 2023 and altcoins are beginning to catch up.
Meanwhile, the ETH price was nearly 10% higher yesterday, blasting past $2,400. Earlier in the week it was the turn of Ethereum competitor Solana to lead the pack, at one stage chalking up a daily gain of 20%.
Helping to propel Solana higher was the remarkable rise of BONK, a meme coin that runs on its blockchain. It is no surprise then, as meme coin fever continues, that Ethereum-powered Meme Kombat has raised $5 million in double-quick time.
We hit $5 million raised in the $MK presale
Congrats fighters! pic.twitter.com/SK5TGEuson
— Meme Kombat (@Meme_Kombat) December 28, 2023
Whale buys $83,845 worth of Meme Kombat ($MK)
Against this favorable backdrop for cryptocurrencies, and meme coins in particular, Meme Kombat has a lot going for it because of its gaming attributes and passive income potential from staking.
In the past few hours alone, whales have been stepping up to the plate to buy at scale. One wallet address bought $83,000 worth of $MK:
4 hours until the price of $MK goes up to $0.268
In the meantime, take a look at these MAJOR buys that came in over the last day One was a whopping $84k and the other $20k pic.twitter.com/tsGsvuPujG
— Meme Kombat (@Meme_Kombat) December 28, 2023
Meme Kombat brings together all the top meme coins in a battling arena where players bet on the outcome of the bouts. Its unique design means it has appeal across the meme coin space, regardless of which of the coins a user might actually hold.
Altcoin season is hotting up and meme coins like Meme Kombat continue to be all the rage. $MK token is just about to enter Stage 9 in which it will be priced at $0.268. In a week’s time, on January 4 the price rises to $0.272. It means there will only be a week to go to grab the lowest price available – and then it is the final price in presale until the hard cap is reached.
There is a strong chance that the current price stage will sell out before the one-week window closes, so there’s no time to lose to conduct due diligence before deciding to buy.
PEPE is up 4,888% since April, but GameFi coin Meme Kombat ($MK) can do even better
Since April 2023 when it was trading at its all-time low (it launched that month), $PEPE has risen in price by 4,888%. According to Coinmarketcap data $PEPE has a market cap of $577 million. DEXTools shows token holders at 154k on decentralized exchanges in a testament to the popularity of the frog coin.
Meme Kombat shows every sign of having the same potential as $PEPE, although it resides on the Ethereum blockchain. Because it will host battles featuring all the top meme coins, it will appeal to market participants across the meme coin space, whichever coin they might be invested in.
Meme coins continue to act as a magnet for traders seeking to pocket large alpha returns, but the space has matured beyond just chasing short-term price movements.
Increasingly, traders are hunting for coins that have a use case that could scale and deliver profits. Meme Kombat is just such a coin.
The project is building an Arena in which meme characters battle and players bet on the outcomes. As such, Meme Kombat encompasses the revenue-generating potential of two of the fastest-growing sectors in crypto outside of meme coins – gaming and betting.
According to crypto data site CoinGecko, GameFi has a market cap of $20.6 billion while gambling tokens are valued at $796 million and growing. CoinGecko values the meme coins sector at an impressive $23.7 billion. Meme Kombat is perfectly positioned to pitch into this expanding total addressable market of $45 billion.
What is so exciting about the Meme Kombat market fit is the way in which its battling meme characters and betting business model is able to appeal to the existing communities coalescing around the most high-profile meme coins.
All of those communities will have an interest in how their favored meme coin fares in the Meme Kombat Arena. Many will want to partake of the fun and profits to be had from involvement in the ecosystem.
Meme Kombat’s Season 1 will be available after the presale is sold out and the project launched. There are 11 meme characters you can battle with in Season 1: Milady, Baby Doge, Doge, Floki, Kishu, Mong, Pepe, Pepe2, Shiba, Sponge and Wojak.
Season 2 meme characters will be out just before Season 1 wraps up.
Meme Kombat presale buyers can stake to earn 184% APY
And there is no need to wait for the platform to go live before putting your money to work with Meme Kombat ($MK). If you invest in the ICO today, you can immediately stake your token to earn an annual percentage yield that is currently sitting at 184%.
When the battling and betting system is turned on, stakers will be able to bet while earning APY at the same time. Three-quarters of sold $MK is now staked, providing buyers will the comfort of knowing that sell pressure will be dampened over the short term. Stakers must hold their tokens for a minimum of seven days after the launch of the coin.
$MK dynamic staking combines on-chain and off-chain transactions, so users only pay network fees when they stake and unstake their $MK while claiming rewards takes place off-chain, incurring no fees.
All staking interactions are logged in real-time, plus the staking system will be integrated with the game, allowing platform users to easily choose between staking tokens or using them for battles..
The number of stakers is powering ahead as interest in the coin explodes. At present, 21.3 million $MK has been staked, up from 13.8 million on December 14. Total rewards of 4,104,400 $MK have accrued to the 6,189 stakers.
Worth bearing in mind for buyers is the fact that 76% of sold coins have been staked, which means there will be much less selling pressure when it launches on exchanges than is typically the case for newly listed tokens.
Experts predict Meme Kombat ($MK) price to 10x at launch
YouTube crypto analysts have spotted the ripening opportunity that is Meme Kombat. ClayBro, who has 116k subscribers to his channel describes Meme Kombat as what could be the “biggest meme coin gaming token of 2024”.
Matthew Perry tells his 200k-plus subscribers that it could be the 10x coin they have been looking for.
Jacob Crypto Bury is of like mind, predicting possible 10x returns for early investors in the project meme coin gaming project.
Meme Kombat total token supply is 120,000,000, of which thirty percent is allocated for staking and battle rewards, 10% for community rewards, and 10% for decentralized exchange liquidity. Fifty percent of the total token supply is on sale in the ICO.
Prospective investors can rest assured because the Meme Kombat smart contract is fully security audited and no major issues have been detected, so you can buy with confidence.
In the final analysis, meme coins live and die by the strength of the communities that they can build. Success can depend on subjective elements such as the humor and the artwork a project creates.
But Meme Kombat has the advantage of riding on the coattails of the popularity of the coins that will feature in its games, so it has plenty of strings to its bow.
Still, on artwork and humor alone, Meme Kombat knocks it out of the park. Ultimately, its strong utility value as a battling arena that blends gambling and gaming is the clincher.
Don’t let Meme Kombat slip through your fingers – it could be the crypto gem of 2024.
The post Ethereum Price Pumps Above $2,300 While Meme Kombat Blasts Past $5m as Meme Coin Whales Buy Big appeared first on Cryptonews.