Shiba Inu And Pepe Coin Prices Both Up, But Could This New Meme Coin Outperform Them?

Major cryptocurrencies managed to stop their downtrend today as the global crypto market held the $1.05 trillion mark. While Bitcoin continues to trade sideways, tokens such as Solana, Loom Network and Cronos have led the altcoin rally. 

However, the meme coin asset class is once again generating the most profitability, with top tokens such as Dogecoin, Shiba Inu and Pepe showing bullish strength. Shib, in particular, has surged over 3% in the daily time frame, while Pepe coin has appreciated by 2% over the same period. 

Meanwhile, the new Meme Kombat token is seeing surging demand in its presale phase, having already raised over $500k in just over two weeks, thanks to its lucrative staking rewards and Play2Earn utility.

Shiba Inu, Pepe Coin Bounce Despite Tepid Bitcoin Price Action

Investors are once again frustrated with Bitcoin’s lack of sustainable upside, with bulls now doubtful regarding their “Uptober” prediction. Despite the US Securities and Exchange Commission deciding not to appeal its loss against Grayscale – a move that significantly increases the odds of a spot BTC approval – Bitcoin failed to breach its 200-day Exponential Moving Average at $27,000. 

The Israel-Palestine conflict and the Federal Reserve’s hawkish stance are also making matters worse for the largest cryptocurrency. Furthermore, Gold’s bullish strength is giving credence to traditionalists who view it as the more stable long-term hedge as compared to BTC.

As has been the case all year, top meme coins have emerged as the biggest beneficiaries of Bitcoin’s lack of volatility. Shiba Inu – the second largest meme coin by market cap – surged by over 3%, thanks to a 30% bounce in its 24-hour trading volume. $SHIB is currently trading near the $0.0000071 mark, with a market capitalization close to $4.2 billion.

Bone ShibaSwap – another token from the Shiba Inu ecosystem – is also enjoying a strong 4.5% bull rally in the daily time frame. 

Shiba Inu is receiving a major boost from its widespread adoption – luxury car manufacturer Ferrari is set to accept certain crypto assets as payments, including Shib. Similarly, tickets to Taylor Swift’s Eras Tour can now be purchased using Shiba Inu, thanks to the partnership between BitPay and AMC Theaters. 

Alternatively, the token’s bullish strength could be attributed to lead developer Shytoshi Kusama announcing that the Shib staking rewards have been increased and will soon be rolled out.

The frog-themed meme token Pepe is also experiencing a 40% bounce in its 24-hour trading volume, resulting in a 2.5% bounce in its price. Pepe is currently trading at $0.00000064, with its market capitalization back above the $250 million mark. 

According to analyst @nebraskangooner, who has over 300k followers, if Pepe manages to breach the 0.786 fib resistance – which is currently at $0.00000066 – it could skyrocket to the 0.236 Fibonacci level at $0.00000079. 

Could Meme Kombat Be The Next Meme Coin To Explode? Presale Raises $500k

According to popular traders such as Michael Wrubel, the new Meme Kombat token could be poised to display explosive price growth after its launch. The high demand for $MK is evident in the presale itself, with the token hitting the $500k milestone in just over three weeks.

Meme Kombat is not an ordinary run-of-the-mill meme token, instead, it’s an amalgamation of some of the coolest crypto trends such as GambleFi, Play2Earn, stake-to-earn and artificial intelligence. 

The Meme Kombat platform will serve as a virtual battle arena for 11 characters, each of which will represent a popular meme coin like Doge, Shiba, Pepe, Sponge and Wojak. The characters will engage with each other in exciting and unpredictable AI-based battles, allowing players to wager on the outcome of the game. 

The project allows players to maintain a perfect risk-reward balance through its on-chain staking mechanism – investors can stake their tokens and start to earn lucrative rewards in the presale itself, while having the option to allocate a portion of their tokens specifically towards betting. 

The Meme Kombat staking pool is currently offering an APY of 112%, allowing retail investors to generate attractive passive income irrespective of the broader market outlook. 

However, the token’s most attractive feature is its fully-doxxed team, as the identities of every team member behind the Meme Kombat project have been revealed, including the founder Matt Whiteman. This level of transparency is unprecedented in the crypto market and would serve to foster trust between the investors and the team. 

Visit Meme Kombat Presale