The cryptocurrency market saw renewed momentum last week, with Avalanche token AVAX rising more than 13%.
This came as several other altcoins also posted gains, marking a clear shift in investor sentiment.
Traders are now looking for the next big mover in the market – with all eyes set on Meme Kombat (MK) as a gaming token that could be set for a fruitful end to 2023.
AVAX Bucks Downtrend with strong price momentum
While major coins like Bitcoin and Ethereum are down, AVAX and other altcoins have been on the rise.
Since last Friday, AVAX has recorded five bullish daily closes – and appears to be on track for a sixth-place finish today.
During that period, the token’s value rose above the 20-day and 50-day Exponential Moving Averages (EMAs) while breaking through the resistance at $10.00.
According to CoinMarketCap. Avalanche’s market cap has risen to more than $3.7 billionWhich makes it the twentieth largest currency in the world.
However, despite this optimism, AVAX is still trading 92% below its all-time high in November 2021.
A lot of the positivity seems to be tied to the increased hype around Stars Arena, a decentralized social media platform built on top of Avalanche.
Despite encountering a security vulnerability earlier this week, The total value of Stars Arena locked (TVL) has increased by more than 350% In just three days the platform starts drawing comparisons with X (formerly Twitter).
This influx of activity has reignited trader optimism about AVAX – with some traders speculating that it could be the next blockchain token to see a major bull run.
Meme Kombat is poised to capitalize on gaming hype for profit
While Avalanche’s price action has been notable, traders’ attention may soon turn to emerging gaming tokens such as Meme Kombat (MK).
This new token aims to capitalize on the hype around blockchain Play-to-Earn (P2E) games, providing users with an innovative platform to bet and earn rewards on battles between meme-inspired characters.
Betting is done using MK Token, Meme Kombat’s native ERC-20 token, and holders are also able to Stake their tokens to earn returns of 112% annually.
This high return and the potential for big payouts through the betting feature has made Meme Kombat an interesting prospect for players and investors alike.
As with successful gaming currencies like ApeCoin (APE) and Gala (GALA), the right mix of attractive and speculative mechanics can provide massive returns.
MK’s early investors hope this will be the case with Meme Kombat, which is still in pre-sale – yet has already raised more than $320,000 in funding.
MK tokens can be purchased through a pre-sale for just $1,667 ahead of planned decentralized exchange (DEX) listings later this year, offering early backers the opportunity to secure their positions at a potentially reduced cost.
A reputable founder and audited smart contract add to MK’s early appeal
Adding to the appeal of the early Kombat meme is that it is project driven Fully doxxed founder matt whiteman.
Whitman has extensive experience in the Web3 space and previously worked as COO at Phat Loot DeFi – a fast-growing startup in the GameFi space.
This adds additional credibility and experience to the Meme Kombat project, boosting investor confidence.
Furthermore, Meme Kombat’s smart contract has been audited by Coinsult, a highly respected security firm in the blockchain space.
This third-party audit indicates that the platform’s code has undergone rigorous testing for vulnerabilities and passed without any issues.
Looking to the future, the Meme Kombat team intends to continue innovating once the platform officially launches, and the second season of the meme fighting feature is released at the end of the year.
This season will feature new game modes and characters, along with additional opportunities to earn MK rewards.
As the buzz continues to grow Meme Kombat’s Telegram communityMK could be one of the most exciting gaming icons to watch in the final months of 2023.
Disclaimer: The above article is sponsored content; It was written by a third party. CryptoPotato does not endorse or assume responsibility for the content, advertising, products, quality, accuracy or other materials contained on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before dealing with any company mentioned and to conduct their own research. Investing in cryptocurrencies involves the risk of loss of capital, and readers are also advised to consult a professional before making any decisions that may or may not be based on the sponsored content above.
Readers are also advised to read CryptoPotato’s full disclaimer.
Free Binance $100 (Exclusive): Use this link to sign up and get free $100 and 10% off Binance Futures in your first month (conditions).
PrimeXBT Special Offer: Use this link to register and enter code CRYPTOPOTATO50 to receive up to $7,000 on your deposits.