The post As Pepe And Dogecoin Price Drop New Meme Crypto ICO ‘Meme Kombat’ Approaches Half Million Mark appeared first on Coinpedia Fintech News

The cryptocurrency market continues to face uncertainty, with the total market capitalization decreasing around 2% this past week to $1.05 trillion. 

Leading cryptocurrencies Bitcoin and Ethereum are also struggling, with BTC down 3% while ETH dropped 5% over the last 7 days. Both are now trading below key support levels that have turned into resistance at $27k and $1.6k respectively.

Pepe, Dogecoin Price Drop Test Investor Patience

As the overall crypto market faces bearish sentiment, meme coin leader Dogecoin is testing its investors’ patience. According to prominent crypto analyst Altcoin Sherpa, Dogecoin is not looking positive technically or fundamentally at the moment.

“Not seeing any movement on this one, it’s at a key 0.057 area but I don’t see any reason to buy this one right now. Been a while since I looked at this chart, ugly stuff,” noted Sherpa about DOGE’s technical setup.

On-chain data from Santiment also shows Dogecoin hitting 2-month lows in terms of social volume, with levels not seen since August. This indicates fading interest and chatter around DOGE, which is generally a bearish sign.

In the 4-hour timeframe, we see a decrease in the DOGE price, and this downtrend is likely to continue until reaching support around $0.057. This is where the lower trendline is located, so the possibility of a bounce higher may emerge around this level.

The bearish breakout from the Descending Triangle pattern, in the direction of the existing downtrend, opens up downside risk towards $0.053 next for DOGE. Momentum is also bearish, with the MACD line below the signal line while the RSI is below 45.

Key support and resistance levels to watch for Dogecoin are:

• Support: $0.060, broke below, next $0.053
• Resistance: $0.070, then $0.100

Overall, Dogecoin faces ongoing price struggles amid broader crypto market uncertainty. Investor enthusiasm continues to wane as DOGE struggles to regain bullish momentum. Unless the meme coin can reclaim key support turned resistance, further declines may occur.

Similarly the Pepe price is down 10% in the past month, retracing the entirety of its late September rally. 

New Meme Coin ICO Generates Buzz

As Pepe and Dogecoin continue to drop in price, a new meme coin ICO is generating substantial buzz and attracting investor attention. Meme Kombat (MK) is being hailed by crypto experts as one of the top meme coins to buy right now.

With an innovative approach combining meme power and Play2Earn features with elements of GambleFi, Meme Kombat aims to become a leading next-generation meme coin. The ICO has already raised close to $500,000, showing strong early interest.

How Meme Kombat Works

Meme Kombat operates as a gaming platform that merges staking, betting, and rewards within a meme-themed battle environment. Here’s an overview of its key aspects:

• Staking and Betting: Users can stake $MK tokens and bet on meme battles, with chances to earn rewards.
• Participation: Participants can buy and stake $MK tokens in order to bet on battles and potentially win more tokens plus other prizes.
• Battles: The platform centers around battles between memes, where users bet on their chosen meme to win.

1 $MK = $0.1667 in the ICO, currently.

The presale launch represents the starting point for Meme Kombat, making 50% of the total $MK supply available. Presale buyers can stake their coins immediately and earn an impressive 112% APY during this period.

Meme Kombat Tokenomics

The tokenomics of Meme Kombat are structured to encourage active participation in the ecosystem while retaining stability. A full 50% of the total token supply is being offered in the presale event to provide a solid starting foundation for the project. By allocating half of the tokens to early adopters, Meme Kombat aims to bootstrap a robust community from the outset.

An additional 30% of the Meme Kombat tokens are reserved for staking rewards and battle prizes. Setting aside such a substantial portion for incentives helps maintain the vitality of the platform by compensating users for engagement. Through compelling staking and battle rewards powered by this allocation, Meme Kombat can cultivate an active userbase essential for growth.

To encourage trading and liquidity, 10% of the token supply is paired with liquidity pools on decentralized exchanges. With exchange partnerships, Meme Kombat tokens gain broader accessibility and exposure. The increased liquidity also provides stability for the project, while enabling users to more easily trade the $MK token.

The remaining 10% of tokens are utilized for community initiatives, AirDrops, and other efforts to reward users. Engaging and growing its community is a priority for Meme Kombat, so retaining tokens to incentivize users helps expand its reach.

The Meme Kombat team recently announced an update to the tokenomics, increasing the total supply by a factor of 10 to 120 million $MK tokens. This adjustment provides more available supply for investors during the ongoing presale event.

Diverse betting opportunities 

Meme Kombat introduces diverse betting opportunities to engage users in different ways. One option is Player vs Player betting, where users can directly wager against each other in battles. This betting format applies to general matches as well as high-stakes championship competitions, allowing for friendly bets or bigger wagers between rivals.

Another possibility is Player vs Game betting, where users leverage their expertise of game mechanics and events to bet against the game itself. This provides opportunities for more strategic players to analyze odds and statistics to make informed bets on battle outcomes.

For straightforward engagement, Direct betting allows users to simply place wagers on specific battles or characters without facing off against others directly. Users can choose a side to bet on and have a stake in the results as an interested spectator.

To add more nuance, Side Action betting enables wagers on dynamic battle aspects like first moves, damage dealt, or unique in-game events beyond just the end results. This provides creative betting opportunities by delving deeper into battle mechanics. Side action allows users to focus on granular details that interest them most.

Market Analysts Bullish on Meme Kombat Potential

Beyond its strong fundamentals, market analysts already see major potential in Meme Kombat. Crypto influencer Jacob Bury called it the next 100x meme coin, citing the 112% staking APY. Bury also backed Wall Street Memes early, which did a 3x after launch.

Michael Wrubel’s 300K subscribers also received an enthusiastic review. He highlighted Meme Kombat’s use case and branded characters as giving it “massive potential.”

With presale supply limited, potential buyers should act fast to capitalize on Meme Kombat’s possibilities. Visit memekombat.io to participate using ETH, USDT or BNB. The successful presale and analyst optimism suggest Meme Kombat is poised to make a major impact upon launching.

Best Meme Coin To Buy Now During Pepe & Dogecoin Price Crash?

Dogecoin and Pepe continue to struggle with waning investor enthusiasm and a lack of direction, so our suggestion for investors is to skip the big cap meme coins for now.

As the crypto market faces ongoing volatility, Meme Kombat emerges as an exciting new opportunity harnessing the power of memes. With presale momentum already building, analysts are bullish on its prospects and fundamentals for the next crypto bull run. For investors interested in early-stage crypto projects with massive upside potential, Meme Kombat warrants attention. 

Its innovative approach, blending memes, gaming, staking, and betting, provides a unique value proposition. While presale supply is limited, acting quickly allows securing $MK tokens before the full launch. To take part in the presale, visit memekombat.io.