Shiba Inu Price Rises Despite Most Altcoins Sliding, Meme Kombat Also Makes Gains

Meme coins continue to push ahead this week, with Shiba Inu up 4.3% today, while many other altcoins are in the red.

Another meme coin gathering momentum is Meme Kombat, which recently surged past $3.5 million in its presale.

Trader Backs SHIB for 300% Pump After Impactful SHIB Burn Announcement

Shiba Inu’s psudonymous lead developer, Shytoshi Kusama, recently released an exciting X thread describing forward-thinking efforts to increase the amount of SHIB that will be burned.

Burning is the process of removing tokens from circulation to create scarcity and bolster the price of the remaining supply.

Through four cryptic tweets, Shytoshi Kusama hinted at significant developments to the Shiba Inu ecosystem to boost SHIB’s tokenomics.

Shiba Inu’s price promptly increased after the tweets surfaced, climbing from $0.00009 to $0.0001.

The tweet started by explaining that billions of SHIB tokens are about to be burned while hinting it relates to Shibarium transactions and that there will be an announcement next week.

Shytoshi also envisions Shiba Inu pivoting from a “meme and lore” to “a global standard that can easily support the technology all of us are building for the betterment of the world.”

The thread ends by hinting at an impactful upcoming partnership, suggesting it will “solidify the #SHIBARMY as the greatest community in the world.”

Another factor attributing to Shiba Inu’s recent ascent is that Shytoshi Kusama and the Shiba Inu community have been listed on CoinDesk’s Most Influential 2023, with the ecosystem’s layer 2 scaling solution Shibarium playing a key role.

Consequently, the Shiba Inu community’s interest has been significantly piqued, with trading volume soaring 14% in the last 24% hours, currently at $213 million.

It seems to have stolen some of Dogecoin’s attention, with the DOGE trading volume down 24% in the same period.

Meanwhile, the Shiba Inu price is up 14% this month and 18% this year.

Following its recent uptick, prominent analyst That Martini Guy has rallied behind SHIB, predicting it could generate 300% returns before reaching its next resistance level.

However, another crypto that analysts are even more bullish on is Meme Kombat. It is currently undergoing a presale, meaning inventors can buy in at the lowest possible price.

GambleFi Presale Meme Kombat Raises $3.5M and Offers 250% Staking APY

Meme Kombat is a P2E meme coin enabling users to bet on AI-generated battles between meme coin characters. 

The project features an augmented battle area, enabling users to watch the fights up close and providing an immersive and engaging experience. 

Users will gamble with the $MK token, providing a demand stream to help its price steadily grow.

Meme Kombat’s forward-thinking use case of merging meme coins and GamleFi hints at tremendous upside potential while illustrating the team’s innovation flair.

The team is also doxxed with its founder’s details on its website, providing a degree of transparency and accountability uncommon in meme coins.

Another advantage to Meme Kombat is its staking mechanism. Users can earn a 250% APY, but this will decrease as the staking pool grows.

These factors, alongside its notable presales success, have led to countless bullish predictions from top analysts.

One of those is Jacob Bury, who speculated it could 10x. Meanwhile, Cilinix Crypto is also optimistic, speculating it could “rally at launch.”

The presale has raised over $3.5 million in 11 weeks, but with meme coin season ongoing, the remaining presale supply is unlikely to last long.

Visit Meme Kombat Presale