A lot of things are going on in the meme coin market. If you’ve been struggling to keep track of the market, read on to get the latest updates on the three trending meme coins.
SPONGE Pumps 54.49%
SPONGE is back in action, climbing 54.49% on the monthly chart and heating up the meme coin scene. The key factor behind the surge is the recent upgrades to the token – SPONGE V2.
Launched initially in May 2023 amid a bear market, SPONGE went on to climb 100X to the astonishment of the market. The token dominated the top charts for the next few days, even earning a spot in New York Magazine’s Intelligencer section.
SPONGE 7-days Price Action, CoinMarketCap
SPONGE V2 is dedicated to those who missed out on the SPONGE 100x surge. It gives them another opportunity to ride a bull wave. Since SPONGE V2 will be released on larger, more reputed exchanges, it signals the potential for another substantial surge.
🎮🚀 Dive into #SpongeV2!
Our #P2E game adds a competitive edge to your meme coin experience.
Stay tuned for more details! 🌊💥$SPONGE #CryptoStaking #Web3 pic.twitter.com/2BaX4h5Lyz
— $SPONGE (@spongeoneth) January 2, 2024
Currently, the project allows users to stake their $SPONGE and earn Sponge V2 tokens. Attractive bonuses are live for early participants.
The platform has been witnessing a large influx of investors since the news went live. So far, the total staked and bridged SPONGE amounts to $1,735,827.74.
Meme Kombat Raises $5M+
Another interesting meme coin to top the charts in Dec and Jan is Meme Kombat. It surged past the $5 million mark in its presale a few days back. It is on the verge of hitting the $6 million milestone at the time of this writing.
Interestingly, both whale investors and individual retail investors are rushing into the presale to secure this promising low-cap meme coin gem before it hits exchanges. To give you a better perspective, a whale recently acquired $83,845 worth of Meme Kombat ($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
Investors who buy the token at the current presale price of $0.279 have the potential to gain returns ranging from a staggering 6500% to 10,000%.
What’s driving this frenzy?
Meme coins, due to their volatile nature, give investors prime exposure to the bullish wave that is expected to gain strength by the second half of January. The project’s unique niche is a strong contributing factor to the presale FOMO.
But there is more. Among the flood of meme coins in the market, why would investors go for Meme Kombat unless they see potential in it? If so, where do they see it?
The important thing to note here is that most meme coins fade away within weeks of their launch. For Meme Kombat to sustain its momentum, it must have more to offer.
This is where Meme Kombat’s distinctive feature enters the picture – the fusion of AI and GambleFi within the meme coin sphere. The project consolidates the rivalry among top meme coins into an AI-powered combat arena.
Within Meme Kombat, players bet on the outcomes of the battles, vying for attractive rewards. GambleFi, GameFi, and AI are the driving forces behind the project.
While GambleFi gained traction in 2023 with projects like Rollbit, the flurry of casino coins showcases the sector’s serious lack of creativity and innovation. Meme Kombat expands the horizon of the sector beyond online casinos and sports betting platforms.
It injects fresh energy into the GambleFi arena with a novel theme that’s entertaining and lucrative, thanks to the integration of iconic meme coin characters.
It channels the intense meme coin battles on social media into its battle arena. The AI integration ensures that the betting contests are free from fraud and manipulation.
The first season of Meme Kombat is set to launch soon after the presale sells out with 11 meme icons. However, investors can begin to earn from the platform through staking (the APY is 160% at the time of writing).
With three-quarters of the sold $MK now staked, the selling pressure on tokens during their debut launch will be very low. It will ensure a strong price action for the token. As a project that offers a reliable source of supplemental income to both active players and passive stakers, Meme Kombat has high relevance in the meme coin market this year.
Is it Worth Holding Onto Pepe in 2024?
Pepe was one of the most popular cryptocurrencies of 2023. But can it maintain its momentum this year? It seems unlikely. With fierce competition from interesting new alternatives like Meme Kombat and SPONGE, Pepe will have a hard time justifying its third position on the meme coin chart.
Another challenge before Pepe is its large market cap, which leaves little room for growth. New meme coins, on the other hand, give early investors high growth potential. Investors are stocking up on them in addition to high-cap, established assets like BTC, ETH, and DOGE.
