PEPE and DOGE are recalibrating their positions, which resulted in significant price declines. So, let's see what's in store for these two meme coins and why you should consider investing in an emerging meme platform, Meme Kombat.
Doge And Pepe Witness Price Corrections After Strong Week, As A New Meme Crypto Achieves 1 Million In Presale
The crypto markets activated in the last week of October, leading to some of the largest price movements we've seen this year. BTC gained over $5,000, while many altcoins and meme coins nearly doubled in value in just a few days. PEPE and DOGE were at the forefront of the meme coin markets, but after gaining almost 100% in value, the demand dropped, and so did the price of the tokens.
Meme Coin Surge
Meme Coin Surge
What Caused The Meme Coin Surge?
DOGE was hovering below the $0.061 price point throughout 2023. However, the recent announcement that Elon Musk's social network X will accept DOGE as a payment option in 2024 allowed the platform to gain momentum. DOGE tokens exploded overnight, reaching the price of $0.074, but the effect was short-lived. DOGE tokens are currently in a downward trend with a price of $0.066, which is only marginally above the previous price level.
However, if X starts accepting DOGE as a payment method in 2024, the crypto will likely enter a bullish phase that could lead to 5x gains or higher. Therefore, DOGE token holders have a lot to look out for, but the platform shouldn't get any significant gains, at least until Q1 2024.
The situation with PEPE tokens is very similar to DOGE and other established meme coins. However, the main difference is that the latest price increase was the result of a planned token burn that deleted 7 trillion PEPE tokens from circulation. The reduced supply had an immediate effect on token prices, increasing from $0.00000079 to $0.0000014. Like DOGE, PEPE has since dropped to the $0.0000011 price point, with a steady downward trend. PEPE tokens will likely keep some of the value they gained, but without more utilization, the crypto is unlikely to result in any significant gains in the near future.
Meme Coin Price Predictions
Contrary to what most investors hoped, DOGE is now in a bearish market. According to the latest price predictions, it is expected to make small gains of up to 4% until November 10, when most experts believe the token will slip below the current support line. The token will keep losing value until it hits approximately $0.0586. The most optimistic price predictions put DOGE at $0.0709 by the end of the year, so the conclusion is that it won't result in any significant gains anytime soon.
On the other hand, PEPE had some higher gains of up to 80% and was trading for $0.00000113 on October 27. However, after hitting the ceiling, PEPE entered the price correction phase, dropping to $0.000001106, a slight drop. That said, PEPE had a market cap of $500 million the same day, but today, its market cap is only $461 million, while the trading volume dropped by 25.32% compared to last week. According to the latest price predictions, PEPE entered a bearish market and is quickly losing momentum.
Meme Kombat - The Next Big Name On The Block
The meme coin cryptocurrency niche has seen many new contenders in 2023, and Meme Kombat is the latest promising addition expected to result in some of the highest gains this year. The news about the latest meme coin spread through the crypto community like wildfire, allowing it to raise well over $1 million in just a few weeks during the ongoing presale event.
The unique platform built on the Ethereum Network offers an exciting mix of features and design choices that will likely make it a relevant platform for a long time. Namely, it's designed as a mix of online meme culture, gaming, and crypto casinos - creating a unique eco-system that allows users to earn native $MK tokens while having fun betting on AI-powered meme characters in arena battles.
Users can choose their favorite online meme characters, including Doge, Pepe the Frog, and many others. Once you select your character, you will get a chance to put it against others in the battle arena. Every time your character wins, or when you bet on the right outcome, you are rewarded with $MK tokens. It's important to say that the entire process is fully AI-driven, so the outcome is unpredictable and 100% fair.
The game also features Player-vs-Game betting, as well as PvP betting, which allows you to put your bets against other players. The stakes are always high, and so are the rewards. The betting system is incredibly well designed, allowing players to earn tokens in many different ways, but it also offers high APY for token staking.
112% APY For Staking $MK Tokens
Besides offering users multiple ways to earn $MK tokens when betting on battle arena outcomes, Meme Kombat offers a staking feature during the presale event. In other words, if you invest in the platform during the presale event, you will get 112% APY. So, the sooner you become a part of the community, the higher the rewards you can expect.
The platform will have 12 million $MK tokens, 50% of which are available during the ongoing presale event. 10% will go towards DEX listings, while another 10% will be given out through community rewards. The remaining 30% of $MK tokens will be reserved for staking and battle rewards, ensuring that the platform has plenty to offer in the future. The presale raised over $1 million, so hurry up and get your $MK tokens before they are all sold out.
Wrapping Up
After a few days of optimism, meme coin holders eagerly await the results of the current price corrections. It seems as if the sudden increase in value for DOGE and PEPE was just a fluke, so the two cryptos are likely to return to their previous positions in the next few days. However, an emerging meme coin project, Meme Kombat, can only go up from here, so don't miss your chance to invest early to stake your coins and earn impressive returns in the future.
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