Despite the sporadic pump fuelled by speculation and FOMO, Dogwifhat (WIF) is awaiting more price corrections.
Down to a $360M market cap, Dogwifhat is running low on steam now. The growing traffic to the viral Meme Kombat ($MK) has been one of the biggest obstacles to Dogwifhat’s journey ahead.
The presale of $MK tokens recently surged past the $7M milestone, as investors found haven in the new token during the bear market.
Dogwifhat price action, CoinMarketCap
GambleFi Battle Arena Fuels Meme Coin Mania
The growing influx of investors and funds to the Meme Kombat presale can be largely explained by the novel GambleFi platform put forward by the project.
The AI-powered battle arena for iconic meme coins is a fresh breath of air in the GambleFi market, which has long been stuck with casino and sports betting platforms. $MK stakers will be able to bet on the outcomes of the AI-powered meme battles to stand a chance to win attractive rewards.
The battle arena will host fights between popular meme characters. Each of the meme coin icons entering the ring will be characterized by unique strengths, weaknesses, and attack animations.
Stakers have the option to wager on PvP matchups against others or PvGame battles versus an AI opponent. The reward tokens are distributed in $MK, the native ERC-20 currency of the platform.
Two big buys came in earlier that pushed us ever closer to the $8 million milestone in the presale🚀💰$MK pic.twitter.com/ViQyyuPCvd
— Meme Kombat (@Meme_Kombat) January 18, 2024
Staking Live with 133% APY, Mitigating Potential Early Dumps
Investors who see potential in the project, but don’t want to be involved actively, can opt for the high-yield staking system. It offers compelling APYs, which stood at 133% at the time of writing. The APY is bound to decrease as more investors seize the opportunity.
Staking will work its magic in maintaining a strong price action for Meme Kombat, especially in the first phase of the launch. It will prevent massive price swings by encouraging investors to hold on to the token.
The passive income stream will benefit investors in the long run rather than chasing after fleeting pumps and dumps. Apart from staking, leaderboards that reward top performers will continue to fuel engagement in the platform.
The First Season Will Go Live Soon
The first season of Meme Kombat will go live soon after the presale is over. With the presale nearing its sell-out, prospective users won’t have to wait long to bet on the outcomes of the battles.
In the first season, 11 iconic meme coins will make their debut, streaming their social media engagement to a new channel. If the social media wars between meme coins communities are any indication, the platform will cause a stir in the market.
Each new season will be updated with more features like more meme fighters, battle modes, and rewards to maintain dynamic gameplay. The project’s goal is to drive the organic demand for $MK tokens and maintain its price action over the long term, despite the ups and downs in the broader market.
Analysts Are Optimistic
The novel use case from Meme Kombat, deep-rooted in GambleFi, puts it at the forefront of the meme coin mania this year. Along with strategic retail and whale investors, the meme coin has been capturing the attention of top crypto analysts and influencers.
Bullish price predictions for $MK have been coming out, with the token preparing to make its way to popular crypto exchanges after the presale.
For example, YouTubers like Michael Wrubel and Austin Hilton have featured Meme Kombat in their videos with an optimistic outlook. Michael Wrubel speculates $MK to be the next 100X gaming crypto.
Social media influencer Jacob Bury, known for his low-cap hunts, on the other hand, sees a more conservative 10X potential in the project. Aspects like real-world utility and community engagement will work in favor of the project. Investors have a bright road ahead of them if the project succeeds in realizing its development map.
Twitter influencers have also been talking about the GambleFi meme coin. For example, Crypto Tony highlighted the project’s doxxed team and passive income opportunity to his 391K followers.
With a growing number of crypto publications and analysts featuring the project’s unique positioning in the meme coin market, Meme Kombat has been trending over the last few days.
Presale Past $7M, Little Time Left for Early Investors
Whale and retail investors are piling in on the Meme Kombat presale that is now closing in on its sell-out. It won’t be long before the meme coin makes its debut.
To ensure price stability on the launch, the team has allocated 10% of the total MK supply for DEX liquidity. Staking rewards, in addition, will help the token maintain its upward trajectory even as speculative investors withdraw after the initial surge.
The release of Meme Kombat Season 1 will drive organic demand for the token soon after the debut exchange listing. Meme Kombat’s promising take on meme coins has the potential to cement its position on the Top 5 meme coin chart.
If the platform evolves as planned, it wouldn’t be surprising to see Meme Kombat dethrone top performers like $BONK and become the world’s third-largest meme coin.
The window for buying $MK for the discounted price of $0.279 is closing. Investors will have to pay a much higher price as FOMO sends the token to new highs post-launch.