Could This New Meme Coin Be the Next Shiba Inu After Raising $6.5M? Traders are Backing it to 10x

The post Could This New Meme Coin Be the Next Shiba Inu After Raising $6.5M? Traders are Backing it to 10x appeared first on Coinpedia Fintech News

The Meme Kombat presale has just surpassed $6.5 million, stoking several traders to predict 10x returns after its IEO.

Market participants can buy the $MK presale for a fixed price of $0.279. But with a $10 million hard cap, time is running out to buy.

Tokens bought within the presale phase can be staked and earn an additional yield. The current staking APY is 136%, but this will decrease as the staking pool grows, incentivizing early investors.

Investors can buy the presale on the Meme Kombat website. It is an ERC-20 token, so they should use an Ethereum-compatible wallet like MetaMask to buy. The presale accepts payments in USDT and ETH.

Traders Back Meme Kombat for 10X Gains

Prominent traders and market experts have hyped Meme Kombat for significant growth following its initial exchange offering (IEO). 

In a recent video, YouTuber ClayBro exclaimed to his 116K subscribers that Meme Kombat “could be the biggest meme gaming token of 2024.”

Meanwhile, after it hit $6.75 million in its presale, Jacob Bury responded by predicting it has 10x potential. In his video, the analyst explained Meme Kombat’s compelling, utility-driven use case and doxxed team as key indicators it could explode.

But Meme Kombat’s excitement does not end with analysts. Crypto media heavyweights like Business Insider, Crypto News, CryptoPotato, and Cointelegraph have all endorsed the project as having high potential.

As well as illustrating the project’s support, such backing adds to Meme Kombat’s legitimacy, indicating long-term potential and providing a significant advantage over other new meme coins. That said, Meme Kombat is far from an ordinary meme coin.

What is Meme Kombat?

At first glance, Meme Kombat looks like any other meme coin, displaying colorful graphics and a fun-driven narrative. However, scratching beneath the surface shows Meme Kombat is a sophisticated GambleFi utility token tapping into multiple narratives.

The project lets users gamble on AI-generated battles between meme coin characters. It hosts an augmented arena where users can watch and wager on the fights up close. 

Its gamified graphics and incorporation of trending meme coin characters add a game-like allure that is uncommon in other gambling projects. Moreover, with crypto gambling and meme coins deemed high-risk, high-reward markets, the fusion of narratives could yield tremendous demand.

YouTuber Austin Hilton also notes that integrating meme coin characters adds a tribalistic element to the game, with various communities likely to partake and bet on their preferred project.

Lastly, its incorporation of AI for gaming provides a unique selling point compared to other meme coin projects. It also means Meme Kombat could benefit from the ongoing AI narrative each time other AI tokens experience a pump.

Utility and Staking

With a robust use case of crypto gambling, Meme Kombat also boasts notable token utility. This is crucial for long-term success since it provides a steady and predictable demand stream that helps its price grow steadily.

Users will gamble on the Meme Kombat platform using the $MK token. As such, the platform’s demand will inherently bolster the token demand.

Meanwhile, Meme Kombat’s staking mechanism will provide another demand stream, providing speculators a way to compound their investment.

The staking mechanism will also encourage holders to lock up their tokens, reducing its sell pressure.

According to the website, 28,961,160 $MK tokens have already been staked, and stakers have earned 5,662,333 $MK in rewards.

50% of $MK tokens are allocated to the presale, 10% to DEX liquidity, 30% to staking and battle rewards, and 10% to community rewards.

Leading From the Forefront of Meme Culture

While Meme Kombat posies an innovative spin on traditional meme coins, it also retains the compelling allure that enables it to go viral.

With 40% of the tokens allocated to community rewards, Meme Kombat will see immense community participation, growing its network effect and brand notoriety. 

But the team is not stopping there. With a culturally relevant and engaging social media, Meme Kombat is racking thousands of impressions on each post, captivating its audience with its forward-thinking meme game.

With that in mind, it is no wonder the Meme Kombat presale is selling out quickly, and the token is backed for monumental gains.

However, this means those looking to buy the Meme Kombat presale should act fast to avoid missing out.