The Solana blockchain’s biggest meme coin BONK! ($BONK) is seeing a big pullback from earlier weekly highs.
BONK! recently hit its highest levels of the year above $0.0000055 per token, but the price has since pulled back over 30% to around $0.00004.
Still, that leaves $BONK up a super impressive near 2,500% from October’s lows.
BONK! (BONK) Chart / Source: TradingView
The surge in the meme coin’s price comes alongside a pump in recent weeks in the Solana (SOL) price amid a broader crypto market rally fuelled by optimism about institutional adoption with spot Bitcoin ETF approvals seemingly coming in the US very soon.
While BONK! is certainly a hot prospect right now, it’s far from the only meme coin attracting a lot of interest.
An up-and-coming meme coin called Meme Kombat ($MK) has been generating huge hype thanks to its unique value proposition, given its token powers a fun platform that sits at the intersection of GameFi and GambleFi.
The token’s presale has already raised a whopping more than $2 million as top traders back the token.
What is Meme Kombat?
Meme Kombat is a web3 platform that blends together the world of crypto gaming and gambling with its exciting platform were users are able to bet on the outcomes of exciting battles between characters based on some of the crypto world’s most popular meme coins.
Given its strong appeal to meme coin investors and GameFi and GambleFi addicts, Meme Kombat is expected to have a wide appeal.
$MK is currently priced at $0.214, but will be rising 10% to $0.225 when the presale enters its next stage in just under 6 days.
The price of $MK is now $0.214
Make sure you are ready for Kombat and have you $MK ready too! pic.twitter.com/46vMGrXURU
— Meme Kombat (@Meme_Kombat) November 23, 2023
It’s worth noting that while the site’s countdown shows that there are only just under seven days to go before the next price rise, the current stage could sell out much sooner than the time allocated if the $2.5 million mark is quickly hit.
In contrast to meme coins such as Pepe, Meme Kombat enables token holders to stake-to-earn to get a passive income stream.
Stakers earn an annual percentage yield (APY) of 466%. Such a high return is possible because the project has allocated 30% of token supply to staking and battle rewards.
Even better, presale buyers can choose to stake their coins immediately and start earning now.
There is a staking dashboard to show the real-time number of staked coins in the pool launching soon.
Major Update
The Meme Kombat Staking Dashboard is officially live and ready to be used by you!
Take a break from Kombat and visit the staking dashboard here: https://t.co/nNFEYESjPs pic.twitter.com/yswl0esb4G
— Meme Kombat (@Meme_Kombat) November 9, 2023
$MK the Next 100x Coin?
For degens focused on where to find the next 100x gem Meme Kombat has to be front and center. Put succinctly, Meme Kombat captures the latent value of arguably the top-valued sectors in crypto today – gaming and gambling.
Admittedly meme coins are all about virality and community engagement and have almost made it a badge of pride that they don’t actually have any utility.
There is of course value in networks of engaged individuals but as the market enters the next bull cycle, one feature of the maturing nature of the market is investors becoming more demanding in what they expect from a coin, and that includes memes coins.
Increasingly market participants want to buy into projects that are offering genuinely unique and potentially valuable use cases – there has to be a value differential.
Meme Kombat fits the bill perfectly. It not only hits on the two booming sectors of GameFi and GambleFi, it is also playing in the high-octane meme coin segment, where old and new money is sure to flow in powerful torrents as crypto winter recedes.
It doesn’t require much analysis to immediately see the value proposition in Meme Kombat and how it stacks up when compared to coins like Pepe.
You can keep up with developments at Meme Kombat on X (formerly Twitter) and Telegram.
Disclosure: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. By using this website, you agree to our terms and conditions. We may utilise affiliate links within our content, and receive commission.
The post $BONK Price Crashes 30% From Top As Traders Back New Meme Coin $MK appeared first on Cryptonews.
