Pepe has lost its steam this year. Despite the occasional surges, the frog-themed meme coin is on its way to a deep plunge. The series of price drops hints that it is only a matter of time before Pepe is dethroned from its fourth position on the meme coin chart.
Who will snatch Pepe’s position in that case? Meme Kombat is one of the key contenders that show promise.
What you'll learn 👉
Pepe Climbs Down the Charts
Pepe is a top-performing cryptocurrency of 2023. The abrupt launch of the token soon paved the way for a mass fervor in the meme coin market. Before we knew it, the token had skyrocketed to the moon, rewarding early investors with generous returns.
A key factor behind the meme coin’s success was its theme. While most meme coins are themed around various breeds of dogs, Pepe dared to think beyond. However, the theme’s relevance in popular culture helped it fuel FOMO right from the initial stage.
Another element that helped Pepe was its seemingly honest vision. The meme coin blatantly states that it comes with no purpose or use. It’s simply a meme that speculative and adventurous investors can take advantage of to make quick profits. Or even quicker losses.
Pepe 1-month price action, CoinMarketCap
With little more than its hype supporting the price action, Pepe’s lack of focus on use and purpose has backfired. It is struggling to substantiate its market relevance in the increasingly competitive market.
Toward the end of last year, Pepe was left with no choice but to succumb to the euphoria around BONK. The Solana-based meme coin took over the third position on the meme coin chart and boasts a $645,311,476 market cap now. Although Pepe maintains the fourth position on the chart, it is far behind, having shed its market cap to $383,632,279 over time.
The meme coin has lost 79.2%% of its value since hitting an all-time high in May 2023. In the last thirty days, Pepe has fallen 25% down the charts. A trajectory toward the bottom is clear to seasoned traders.
They are moving to alternatives with higher upside potential.
Meme Kombat’s GameFi Utility Grabs Attention: Presale Crosses $8M
Meme Kombat ($MK) is a new meme coin that has become a hot sensation in a short time.
Much of the growing craze around the project has to do with its unique utility in GambeFi and GambleFi. But it stands apart from the crowd of crypto casinos and sports betting platforms with a creative new theme.
Meme Kombat is a virtual battle arena where iconic meme coins like Dogecoin, Shiba Inu, and Pepe fight it out for victory. The platform allows users to bet on the outcomes of these battles and stand a chance to win attractive rewards. The rewards depend upon the accuracy of the predictions as well as the size of the tokens staked.
The key factor that has worked in favor of the meme coin is its focus beyond speculation. Here is an analysis.
- Meme Kombat’s utility within the GambleFi ecosystem will drive its organic demand over time. It is built to protect it from the market dumps that most meme coins fall prey to after a quick surge. The virtual battle arena will underpin the market relevance of $MK tokens as long as meme coins are relevant.
- Utility can help a cryptocurrency battle volatility to a good extent. But it’s not enough. Meme Kombat introduces passive staking to its ecosystem to address the challenge, which incentivizes long-term token holding with attractive rewards.
- The Meme Kombat utility is strategically designed in the sense that it cleverly pumps the social media rivalry between meme coin communities into its battle arena. For Meme Kombat, the fierce competition among meme coins is fuel for engagement.
Meme Kombat Season 1 is set to begin soon after the presale sells out. Iconic meme coins with distinctive strengths, weaknesses, and attack animations will battle it out on Meme Kombat. Stakers have the option to join Player versus Player (PvP) matchups against other users or join Player versus Game (PvGame) battles against AI opponents in the challenges.
Till the end of the presale, investors can gram Meme Kombat for heavily discounted prices.
But having crossed the $8M milestone already, there is little time left. The hard cap is $10M, which will be hit any day now.
It’s Not too Late to Buy
Along with attractive discounts, the presale features passive staking rewards of up to 118% APY. The warm welcome of the presale, as well as the optimistic reviews from top crypto analysts and traders, strengthen Meme Kombat’s journey ahead.
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The progress of the presale during the bear market, in particular, has caught the attention of strategic investors. If the presale sells out this month, coinciding with the broader market bull run, early investors are looking at generous returns ranging from 1000% to 1500% within a month.
But as the utility side of the meme coin takes over the price action, Meme Kombat will make its way to the Top 5, potentially overtaking Pepe and BONK.
The official Meme Kombat website is the only platform for the presale purchase of $MK tokens.
Disclaimer: We advise readers to do their own research before interacting with any featured companies. The information provided is not financial or legal advice. Neither CaptainAltcoin nor any third party recommends buying or selling any financial products. Investing in cryptoassets is high-risk; consider the potential for loss. CaptainAltcoin is not liable for any damages or losses from using or relying on this content.