Thursday, December 14th, 2023 – Over the past four weeks $BONK meme coin has pumped 667%, but it is Meme Kombat token ($MK) that could be the meme coin to rule them all with its battling meme characters platform that’s raised $3 million.
Solana-based $BONK is demonstrating the vitality of the meme coin sector, confirming the fact that viral-infused community-focused meme coins are still a favorite among crypto traders and investors.
$BONK styles itself as the first dog-based meme coin on the Solana blockchain. The coin is barely a year old. After launching with a 3,000%-plus price gain it fell back, stuck in the doldrums for most of this year.
However, renewed interest in the Solana blockchain, now that the FTX exchange implosion and the Sam Bankman-Fried trial is behind us (Solana was heavily associated with the FTX complex), has helped the coin.
We did it memers!!! Let’s keep going🚀 pic.twitter.com/jubYELT1pj
— Meme Kombat (@Meme_Kombat) December 14, 2023
$BONK’s listing on Binance and Kucoin has certainly helped its price too, putting it on the radar of many more traders. A Coinbase listing is also upcoming. Meanwhile, the Meme Kombat battling and gaming platform is seeing an influx of buyers as its presale targets $5 million.
Altcoin season is hotting up and meme coins like Meme Kombat continue to be all the rage. Currently priced at $0.246 $MK token has just entered Stage 7 of its presale, which ends in seven days, on December 21. It means there is only a week to grab the lowest price available before it jumps to $0.257, a rise of 4.47%.
Prospective $MK buyers should note that there is a strong chance that the current stage could sell out before the one-week window closes, so there is every incentive to expedite buying decisions.
Time is ticking!
— Meme Kombat (@Meme_Kombat) December 14, 2023
BONK is up 2,333% since early November, but Meme Kombat ($MK) could do even better
Since early November $BONK has risen in price by 2,333%. According to Coinmarketcap data $BONK now has a higher market cap than Pepe, at $894 million. DEXTools show taken holders surging to 1.3 million. Total 24-hour trading volume is up 58% at $288 million.
Remarkably, $BONK is now the third-ranked coin in the meme sector and its trading volume is higher than Shiba Inu. The outperformance by BONK illustrates the opportunities for meme coins in what is a highly dynamic corner of the crypto market, where coins can seemingly come from nowhere to command $1 billion market caps.
Meme Kombat shows every sign of having the same potential as $BONK, 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 Kombat has a use case that can make it the king of meme coins
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 will battle and users bet on the outcomes, and in one leap, capturing the value-creating potential of two fast-growing sectors in crypto outside of meme coins – namely, gaming and betting.
According to crypto data site CoinGecko, GameFi has a market cap of $18.5 billion while gambling tokens are valued at $928 million and growing. Consequently, Meme Kombat is attacking a rich and expanding total addressable market.
And let’s not forget about the return potential of meme coins themselves, which are currently valued at $23 billion, with a daily trading volume of $1.9 billion.
Add that all up and we have an industry that, even before the crypto bull market really gets going, is valued at $42 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 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. The team says there are plans to include BONG among the Season 2 character line-up.
Meme Kombat presale buyers can earn 284% APY
And there is no need to wait for the platform to go live before putting your money to work with Meme Kombat. If you invest in the ICO today, you can immediately stake your token to earn an annual percentage yield that is currently sitting at 284%.
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 on-chain game contracts, to enable platform users to play the games with staked tokens.
At present, 13.8 million $MK has been staked and total rewards of $MK 2,866,861 $MK accrued for the 3,863 stakers. The number of stakers is growing by leaps and bounds as interest in the coin takes off.
Meme Kombat ($MK) price could 10x at launch
It is little wonder then that YouTube crypto analysts are eyeing Meme Kombat for 10x potential returns for its early investors. Crypto YouTube experts are impressed by Meme Kombat, with some going so far as to label it the next Pepe. One presale reviewer is penciling 10x returns for early investors for the project when it launches.
Meme Kombat total token supply is 120,000,000. Thirty percent of supply 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.
Ultimately, meme coins are all about the strength of the communities that they can build. Success will depend on subjective elements such as the humor and the artwork a project creates.
Although it is hard to predict in advance which projects will be the winners, Meme Kombat scores highly on artwork and humor, not to mention its strong utility value as a battling arena that blends gambling and gaming, all with a meme coin vibe.
There’s much to like about Meme Kombat but it could be selling out soon so, after conducting due diligence, prospective buyers will need to strike fast.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.