Dogecoin captured the hearts (and wallets) of meme lovers and crypto investors alike when the coin surged over 66,000% throughout 2020 and 2021.
Now, a new meme coin called Meme Kombat (MK) is positioning itself to ride DOGE’s coattails, raising more than $6.6 million in presale funding so far.
Over 23 million MK tokens have been sold during the presale – with some analysts estimating that the token’s price could rise by 1,000% (or more) once listed on exchanges in the weeks ahead.
With staking yields of 141% per year also on offer, Meme Kombat presents itself as an intriguing contender to match Dogecoin’s early success.
Meme Kombat Presale Hype Generated by Strong Community & Explosive Potential
Meme Kombat’s team is currently hosting a presale ICO in anticipation of its full launch and listing on Uniswap later this year.
The meme token aims to build an engaged community through appealing tokenomics, including a 50% allocation for presale buyers.
As noted in the project’s whitepaper, an additional 10% of the MK supply will be set aside to provide liquidity for Meme Kombat’s Uniswap listing, helping to provide smoother trading conditions.
This enticing tokenomics setup has helped bring massive attention to Meme Kombat’s presale, which is now in its final stage.
The presale’s hard cap is $10 million, meaning there’s only $3.4 million left to raise.
With such a strong community and unique use case, reaching that target soon seems highly likely.
Early investors can buy MK tokens through the presale for $0.279, the final price before the token’s exchange listing.
With low-market-cap meme coins regularly posting returns of 1,000% (or more) following their public market debut, Meme Kombat could be poised for an explosive launch.
What is Meme Kombat & Why Has It Raised Over $6.6m in Presale?
The main reason for Meme Kombat’s presale momentum is its impressive mix of features designed to engage the community while rewarding holders.
The platform’s crown jewel is its virtual battle arena, where meme coin mascots face off in fights.
Users can wager MK tokens on match outcomes to earn prizes for picking winners.
Initially featuring well-known characters like Doge, Pepe the Frog, and Floki, Meme Kombat’s developers plan to expand the fighter roster over time.
Beyond gaming, Meme Kombat incentivizes long-term MK holding via its staking protocol.
Users can stake their MK tokens to earn a passive yield over time – with more than 27.8 million tokens staked already.
Underpinning these features is the development team’s season-based approach, which will see new game modes and earnings mechanisms being dropped regularly to evolve the platform.
These releases will occur every few weeks to keep the gaming experience fresh.
With a jam-packed roadmap and emphasis on MK holder rewards, Meme Kombat looks well-positioned to sustain its current presale momentum.
Why Are Dogecoin Investors Buying MK Tokens?
According to various blockchain data sources, many DOGE holders and meme coin enthusiasts are opting to invest in Meme Kombat’s ICO in the hope of generating market-beating returns.
As Dogecoin is now in a more “mature” stage of its life cycle, further parabolic gains, like its 66,000% surge a few years ago, seem unlikely.
This has some holders looking to Meme Kombat as a viral asset that could recapture the wealth-building potential of Dogecoin’s early days.
Moreover, unlike Dogecoin, Meme Kombat offers real-world utility with its gaming and staking functionality.
The ability to wager on meme coin battles offers a new use case compared to DOGE, which lacks meaningful functionality beyond trading and payments.
Finally, crypto gaming itself is one of the fastest growing sectors in the blockchain space – expected to reach $301 billion by 2030.
Meme Kombat’s specific combination of gaming and memes makes it a potentially exciting player within this rapidly expanding space.
With Dogecoin arguably past its peak, Meme Kombat’s presale presents meme coin investors with the chance to get in early on a project with clear parallels to DOGE.
For this reason, Dogecoin holders have been gradually migrating their DOGE to MK, hoping to benefit from any post-listing price spike that might occur.
